Why to Consider Property Investment in Leeds
Leeds is a thriving city with a lot going on in terms of property investment, from residential to commercial and office space.
Today’s question is ” Why to Consider Property Investment in Leeds?“. Leeds is a vibrant city, constantly thriving, with lots of opportunities for both workers and students. It is the most important city in the West Yorkshire region very well connected to the rest of the country.
Getting to Leeds by car is very easy because one of the major roads in England, A65, borders the city. For those who prefer traveling by air, the closest airport to Leeds city centre is the Leeds Bradford Airport. The railway also connects Leeds to the rest of the country.
Being the city so organized, working and studying in Leeds does not necessarily bind workers and students to live in a chaotic environment.
Why Invest in Leeds?
Buying a house in Leeds or its surroundings is an investment. It is an important city in Great Britain, the economic, financial, and cultural heart of West Yorkshire. In addition, Leeds is considered a prestigious city, referred to as the “Capital of the North” by some.
It registers a population of over 100,000 people commuting to its centre daily for business and work. About three-quarters of a million people live in Leeds, a city with a rich culture, lots to do, lots to explore, great shopping, etc.
The ideal areas to purchase a property are Leeds City Centre, Woodhouse, Hyde Park, Burley, Headingley, Leeds Becket University area, and of course, the areas surrounding the University of Leeds.
1. Students
Students who want to start or continue their career in Leeds City and the surrounding areas are in the perfect place.
One of the best and well-known universities in the Yorkshire region is the University of Leeds. As a matter of fact, the city itself and its suburbs register a large number of young people, the majority being students at the top institutes of the West Yorkshire county.
Given the fact that Leeds is home to some of the best universities in the United Kingdom, it is the ideal place to buy a house when one is studying at one of its universities. Our local letting agency has one of the largest selections of student properties to rent in Leeds.
2. Professional Tenants
The demand for rental properties is on the rise, especially in those areas of Leeds where there are a lot of job opportunities, universities and other facilities. Therefore, tenants who need a place to live in, in order to work, are on the rise.
They usually look for a place through rent advertising and the most popular types of accommodation are apartments, houses, both new and old, detached or semi–detached, furnished or unfurnished, etc. From the landlord’s perspective, the goal is to rent a property to the best tenants using the appropriate means and correct channels.
Unlike the past, nowadays people prefer to look for a place to live using the numerous websites available on the internet. However, there are property owners that would rather go for the traditional rental agency when it comes to finding tenants.
3. Economy
There is no doubt that Leeds is a city growing real fast. Investors from all over the world wish to start their businesses or settle down in Leeds. It’s not surprise to learn that this city provides more jobs than any other city in Great Britain (if London is not taken into consideration). Therefore, it is a great and safe city to live in.
4. Business Opportunities
Being a thriving city, Leeds offers a lot of job opportunities especially in the education sector (thanks to its top universities), tourism (there are tons of attractions both in the city itself and its surroundings), finance, etc.
5. The Local Rental Market
During the 80s, Leeds experienced a surge in real estate. Despite its quality of life that seems to suggest higher housing prices, in reality, they are below the national average. An average house price for a property in Great Britain is about £219,554 while in Leeds it is £203,825, over £15k less than the UK average. Investing in Leeds is recommended because property values have been enjoying a steady increase, rising to 5.14%.
This indicates that the city continuously regenerates various areas in and around the city centre to provide more housing. Rental rates are also pretty stable and it could not be otherwise as, to many, Leeds is considered a student city. Property owners can easily rent out their flats either to students or to the young working class.
6. Lifestyle
Leeds is the nightlife capital of the north with its many bars, pubs, and clubs. It counts 152 between pubs, bars, and cafes. Call Lane is the city’s most famous nightspot. Revelers can truly enjoy their night out here with many drinks to choose from and opportunities to dance at Brb, Revolution, and many more.
In Leeds and its surroundings, there is a lot to visit with its many attractions. Among its many theatres, Northern Ballet Theatre encompasses a mix of classic ballet and contemporary works such as Romeo and Juliet.
Visitors can also enjoy adaptations of Dracula and Dr. Jeckyl and Mr. Hyde. One of the top places to visit in Leeds is the Royal Armouries, Britain’s national museum of arms and armors. The museum displays 8,500 objects and presents the history of the warrior through the ages, from the medieval knight to the present–day soldier.
7. Buy-to-Let Property Investment
The are many reasons behind owning and renting a property in the city of Leeds. The purchase of a property is the first step toward starting a business or simply having an extra source of income. Landlords should run a rental professionally, conduct a good business according to local laws and regulations.
Choosing to rent a property and starting to make money out of it can be stressful, yet very rewarding. There are a few simple steps that every property owner should follow in order to get the best out of this experience. It goes from buying the house/apartment to collecting the rent.
Conclusion
What’s around the city? A lot of things to see and visit. A good example is Almscliffe Crag or Great Almscliff Crag. It is the perfect location to enjoy a 360 – degree view of Yorkshire. The panoramic views from the top of the small hills are stunning.
The rock climbing routes are great fun but challenging and this area is considered to be one of the best locations to practice this hobby.
For those who are into art, the Browns Gallery is also easy to reach from Leeds city centre. It is a great place to admire works of art and paintings from local artists.
Once the old Otley Building Society, it is now a spacious art gallery that hosts a number of exhibitions.
Some of the top artists whose paintings are exposed at the Browns Gallery are Steven Townsend, Peter Brook, Graham Colthorpe, etc. Visitors can also purchase products such as mugs, candles, vases, glassware, etc.
Do you want to invest in Leeds? We cover Burley, Chapel Allerton, Weetwood, Meanwood, Headingley, Hyde Park, Woodhouse, Leeds City Centre, Armley, and more. Do not hesitate to contact us, our company is always at your disposal.