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Property Investment in Bradford – A Guide by Aspen Woolf

London-based Aspen Woolf looks at property investment in Bradford, as part of a series of city property investment guides. So if you want to know what opportunities lie in owning one or more Bradford properties, keen on reading.

Bradford is a hidden gem of the north of England, thanks to its blend of West Yorkshire countryside and urban city living. Also, it’s a part of the West Yorkshire Urban area, the 4th largest in the UK,  with great transport links and proximity to the Northern Powerhouse Cities, especially Leeds

Want to see what’s all the fuss about property in Leeds, this article is for you. 

Now back to Bradford!

Bradford is a young and vibrant city with a history of standing firm against challenges it faces… and coming out on top. Even though de-industrialisation took a hefty toll, Bradford now has one of the strongest economies in the region.

While it may not be the first city that springs to mind for property investors, there is plenty of new development in Bradford currently underway, along with a strong student population seeking accommodation and affordable living spaces.

Property Investment in Bradford can generate a great ROI

Property is affordable in Bradford

The property for sale Bradford has on offer is relatively affordable, which boosts its appeal for first-time buyers. The latest data from Zoopla says that the average price of a Bradford home for sale from the last 12 months. This is a rise of 4% compared to the previous year. Terraced houses sold during that time for an average of £110,959 while flats sold for an average of £82,741.

Relatively low-priced mortgages and rents attract young professionals to Bradford and attract investors looking for good returns. Bradford is also well located in between major northern cities Leeds and Manchester, with easy access to the capital and the rest of the country. 

With the Leeds Bradford Airport at a distance of only 6 miles and the Manchester airport merely an hour’s drive away, Bradford truly boasts excellent transport links.

bradford property

Bradford presents a unique property investment opportunity

According to the Office of National Statistics (ONS), which uses data from the HM Land Registry, the average property price in England is just over £288,000. The latest figures show an 11.5% increase in house prices over the last year alone.

This means that, comparatively, Bradford’s home prices are rising faster than the national average. And it’s Bradford’s future plans that are particularly attractive to property investors. Regeneration plans include improving the city’s infrastructure and continuing the development plans in the city centre.

Data from Home.co.uk shows the average rent for properties in Bradford is currently £616 per calendar month (PCM), with around 204 properties on the market at the time of writing. Of these, two are at the lower end, priced at under £250 PCM at the lower end, and six at the top end between £1000 and £2000PCM.

Last chance to reserve, 75% sold!

With the added benefit of a pre-launch investor discount, this is an opportunity not to be missed! CH (Conditioning House) is the latest exciting mixed-use development in Bradford city centre.

CHLocated in the heart of BD1, the CH development is only a short walk from the brand new Broadway shopping centre and some of Bradford’s best lifestyle attractions.
The restoration will bring a mix of 133 ‘New York Loft’ style residential apartments.

Fill out the form today to get an exclusive investment at a superb price, you only need a 25% cash deposit!

Investment yields are high

Property investment in Bradford remains attractive because yields are projected to increase in the region. Why? Because Bradford’s infrastructure and facilities are improving thanks to various investment initiatives.

Savills says that over the next five years Bradford and the surrounding region will see a 21.6% growth in population. 

And it’s clear that the city offers many benefits to residents. While property remains relatively cheap against other regions of the UK, Bradford offers a culturally advanced, historic city with much to offer.

In addition, the HS2 project will mean one of the key Northern Powerhouse cities, Manchester will be just 20 minutes away via train. With Leeds just 15 minutes away, Bradford is perfectly positioned to take advantage of cheaper house prices while reaping the benefits of the bigger cities in the region. The HS2 initiative is predicted to boost Bradford’s economy by £15 billion by 2069, and the knock-on effect on house prices will be significant.

Property Investment in Bradford – A Guide by Aspen Woolf

Bradford has a growing economy and population

By 2030, the population of Bradford is forecast to reach 565,000 people and its economy is one of the strongest in the north. Bradford’s economy is worth more than £11.6 billion and just behind Sheffield and Leeds in terms of size. It’s forecast to grow by approximately 25% over the next decade, according to figures from the local authority.

For every demographic, affordability is always the number one concern. And as Bradford is one of the most affordable cities in the UK, it’s enticing for young professionals, families and students as they launch their lives and careers.

The latest figures show that there are over 16,000 enterprises in Bradford employing around 250,000 people, along with more than 32,000 self-employed people. 

In addition, Bradford is considered as the best place to start a business in the UK, some of its strongest sectors are:

  • advanced engineering, 
  • chemicals, 
  • automotive components 
  • food manufacture 
  • financial services 
  • digital technologies

In a bid to make Bradford the fastest growing economy in the UK, the city is focusing on development across four key areas as part of the Bradford District Economic Strategy.

  1. Improving connectivity both via transport infrastructure and digital connectivity.
  2. Attracting investment using cultural and historical assets.
  3. Skills and education development, particularly for young people.
  4. Driving business innovation and productivity.

Property Investment in Bradford

Investment revitalising Bradford city centre

Significant amounts of funds have already been invested in Bradford to boost its economy. More than £500 million went into improving the city centre, with a further £200 million dispersed among the wider regional district.

New regeneration projects in 2020 include the £75 million pledged to attract the future’s ‘urban entrepreneurs’. The overarching project can be broken down into the following sub-projects, which show the scope of the changes due to be made in the short to medium term.

  • The redevelopment of the Odeon cinema into the Bradford Live complex – £12m.
  • Relocating the city centre markets – £9.4m.
  • Top of the Town residential ‘city village’ redevelopment scheme – £3m.
  • Creating grade A office space on the One City Park site – £25.3m.
  • Restoring and regenerating St George’s Hall – £8.9m.

There are also various residential developments within the BD1 postcode that will further boost urban living in Bradford. For example, Queen Victoria Chambers offers 40 spacious apartments in this sought-after postcode. This offers an exceptional opportunity for property investors that want to take advantage of high yields in a city with a bright future.

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Bradford is one of England’s most exciting cultural hubs, with a youthful, enterprising and dynamic population. Underpinned by an entrepreneurial spirit and a strong business ethic, Bradford is set to continue as one of the most exciting property investment hotspots in England.

Bradford available properties