The Leeds area of Chapeltown has had the second highest house price growth in the country, new research analysis by Knight Frank reports.
Property prices in Chapeltown grew by an extremely healthy 19% in the year to March 2021, tying with Ryde on the Isle of Wight. Only Newquay in Cornwall performed better with a 22% rise.
The Knight Frank study shows how Chapeltown is one of the best areas for UK investment property when looking at capital growth.
One of the reasons behind this is its location. Close to the city centre, as well as being in close proximity to the affluent Roundhay with the beautiful Roundhay park and fashionable Chapel Allerton, has made Chapeltown popular for owner occupiers and those seeking an investment property in Leeds.
Property prices are still low
Despite the recent boom, property prices here are still much lower than its neighbouring districts. A three-bedroom semi-detached house in Roundhay now costs £375,000 to £395,000, compared to £220,000 to £250,000 in a popular Chapeltown street.
And with Leeds already having some of the best rental yields in the country, buying an investment property in this Leeds area points to some especially good yields for buy-to-let investors.
Plenty of Leeds investment opportunities
Chapeltown is just the latest Leeds area to prove itself a hotspot for investment property in Leeds. Leeds boasts a wide variety of buy-to-let hotspots, making it one of the best cities for UK investment properties.
The city’s popularity and desirability as also helped property prices in Horsforth rise significantly in recent months. House prices here grew by up to 13% in the last six months, with Rightmove having named Horsforth as one of the UK’s most desirable places to live earlier in 2021.
Another sought-after Leeds location is Kirkstall. Part of the city’s Knowledge Quarter, significant investment in the area and the opening of Kirkstall railway station has quickly made it one of the hotspots for investment property in Leeds.
Armley is also now proving itself popular popular with both buy-to-let investors and owner occupiers. Property prices here are particularly low, with houses available for as little as £115,000. And with prices predicted to rise by 10% to 11% over the next year, buyers in Armley can expect a good return on their money.
Get in touch
Find out more about the best places to buy an investment property in Leeds. Just contact the UK property investment experts at North Property Group and we’ll be happy to discuss your buy-to-let needs.