Bradford may not be the first place property investors think of when growing their buy-to-let portfolio. But with its perfect mix of city and country life, thriving economy and burgeoning cultural scene, this northern city is quickly gaining a reputation as an investment hotspot. Here are just some of the reasons to invest in Bradford.
1. Growing economy
Bradford has a large economy worth over £9.5 billion, making it the eighth largest in England and the third largest in Yorkshire.
As well as being big, it’s growing fast. Since 2008 it has outpaced national and regional growth thanks to large levels of investment into the city. The recent £37 million Superfast West Yorkshire Project aims to improve broadband in thousands of Bradford’s homes and business will help drive the area’s economic growth even further.
The Bradford City Centre Growth Scheme was launched in 2012 at the cost of £35 million. The scheme was created to support economic growth and resilience in Bradford’s city centre. Since the launch, the City Centre Growth Scheme as invested in quality public space and assisted 86 vacant units in being brought back into commercial use.
Bradford is also home to some of the UK’s leading companies, such as Hallmark Cards and Morrison Supermarkets.
2. Attractive property market
The BD1 postcode of Bradford is currently ranked at the 10th best buy-to-let postcode in the UK. With low average property prices of £65,889 and high yields of 8%, it’s easy to see why.
Overall, the average property price in Bradford is £134,474, up by 4% on the previous year. With the continued development of the Northern Powerhouse, Bradford’s property market is sure to benefit from further growth, highlighting one of the reasons to invest in Bradford.
3. Excellent transport links
Bradford is an extremely well-connected city and has excellent transport links by road, rail, and air.
There are easy links from Bradford to the M1, M62 and A1 (M) motorways. The new Northern Powerhouse Rail will quickly connect people travelling from Bradford to other Northern Powerhouse cities, as well as London and beyond.
Just 6 miles away from Bradford city centre is Leeds Bradford International Airport. Connecting Bradford with the rest of the world, this airport handles over 4 million passengers a year. Flights connect passengers with a wide range of European destinations and offers three daily flights to Heathrow and its global destinations.
4. Great lifestyle
Bradford is one of the most youthful cities in the UK with almost a quarter of the city’s 528,000 inhabitants under 16. Its excellent blend of city and country life makes it perfect for families who want the best of both worlds.
Close to the Yorkshire Dales, Bradford is just a short journey to beautiful rural villages such as Haworth, famous for being the home of the Bronte sisters, and the UNESCO World Heritage Site Saltaire.
The city itself offers a thriving nightlife and vibrant social scene, including bars, shops, restaurants and clubs. Bradford has the highest concentration of microbreweries in the country. Furthermore, the city has been named the curry capital of Britain six years in a row.
Sports fans can visit Bradford City AFC’s football stadium. History buffs can explore the Little Germany area, where impressive architecture reveals its industrial textile past.
5. Vibrant culture
Although Bradford has an important industrial heritage, there is plenty of culture here too. The city is home to the National Media Museum, the UK’s first IMAX cinema and the star-studded annual Bradford International Film Festival. Bradford also has the title of UNESCO’s first City of Film. It was awarded in 2009 for being the backdrop of numerous films.
As well as film there is theatre in the form of the Alhambra Theatre. The venue is host to a range of live performances, from touring West End musicals to ballet, comedy and music concerts. There are also plenty of museums and art galleries, including the fantastic Impressions Gallery.
If you’d like to invest in a buy-to-let property in Bradford, contact North Property Group now.