2018 has been great for Leeds so far and this trend is set to continue for the rest of the year, we feel it’s the best place to invest in property within the UK. Although the entire northern property market has witnessed a great first six months, Leeds has been the shining star for investors.
Increasing numbers of young professionals and millennial’s are moving to the North. In search of more affordable, high quality housing, a better work-life balance and flourishing cities.
Thanks to office costs in Leeds being 50% lower than those of London, the city’s business sector is in great health. The financial, service and retail services are booming and attracting a wealth of talented young people. The city can now boast to having the UK’s fastest growing young population and the biggest labour force outside of London.
With its nine universities and good rate of student retention, Leeds is experiencing a rise in demand for city centre living that is helping drive growth in the local market. If you’re thinking where the best place to invest in property is, Leeds should definitely be in the top 3.
Economic Boost Makes Leeds the Best Place To Invest In Property
Unlike many parts of the UK, Leeds is avoiding any economic uncertainty resulting from Brexit and is demonstrating a healthy outlook. There are major regeneration projects underway in the city centre and further afield in the South Bank. That will bring new high-quality, purpose-built accommodation and commercial developments to the city.
Such projects include Krikstall Forge, a development of over 1,000 properties situated over 57 acres. The Vita Leeds 2 re-development of the Hilton Hotel will offer a 16 stories and 312-apartment building for students.
Thanks to these programmes, the West Yorkshire economy has grown by 40% since 2007 and is now worth £50 billion.
Ever more investors are turning to Leeds, both from the UK and abroad. In fact Leeds is growing faster than any other UK region for Foreign Direct Investment. There is currently more than £13 billion invested in construction projects in Leeds. This demonstrates the high level of investor confidence in the city.