As lockdown restrictions end, buyers are flocking back to Leeds city centre, recent figures have shown. Property portal Rightmove reports that demand for properties in Leeds city centre increased by 39% between January and April 2021.
And because of the city’s popularity with both owner occupiers and purchasers in search of a Leeds property investment, it is likely this demand will continue for the foreseeable future.
Bucking the trend
Despite a trend for people leaving some city centres, property professionals have experienced something different in Leeds.
Managing director of North Property Group, Oli Banks, said, “Leeds city centre continues to prove itself as a hotspot for secure property investment.
“We haven’t seen a slowdown in enquiries for Leeds properties at North Property Group – in fact quite the opposite. And now that lockdown restrictions have nearly completely eased, the demand for Leeds property investments and Leeds homes is only getting stronger.”
A hugely attractive city
So what is it about Leeds city centre that has made it so resilient to the effects of multiple lockdowns? Its thriving jobs market continues to attract people from all over the country, as does its vibrant city centre and swathes of green space.
And with increased demand comes increased rental yields and growing property prices. In fact, some of the UK’s highest house price growth has been reported in Leeds, while the new off-plan development Leeds Archway is forecasted to generate rental yields of 21%.
During the pandemic, Leeds has continued to undergo huge levels of investment. The city’s thriving economy makes a Leeds property investment even more of a secure choice.
Growing demand for flats
Rightmove found that although large family homes have been in most demand recently, trends are starting to move back in the favour of city centre flats.
This is reflected in the growing build-to-rent sector in northern cities across England, as well as the increase in demand for student properties in Leeds city centre as universities return to normality.
Rightmove’s housing expert Tim Bannister said: “These are early signs but they certainly point to some good news for city centres across Great Britain, with a number of agents now telling me they’ve seen a marked uptick in demand from first-time buyers, and they’re managing to sell city-centre flats more quickly than in earlier months of the year.”
Find out more
There is no better time to make a Leeds property investment. Find out more about buying a rental property in Leeds by contacting North Property Group today.