Leeds property experts are pointing to a boom in city centre living following the easing of restrictions following the coronavirus pandemic. They say that Leeds is set to undergo a surge in the amount of people wanting to live in the city centre, with buy to let properties in this area likely to see a large increase in demand.
Increasing city centre demand
Since the pandemic restrictions were lifted, the Leeds city centre rental market is performing like never before. Many of the city’s property agencies are seeing almost 100% occupancy rates for all of their properties as tenant demand for city centre living continues to grow.
City centre properties are being snapped up by tenants like never before as competition for good quality accommodation grows. Along with more people wanting to live in Leeds city centre, the city’s property market is undergoing its highest gap between and demand since 2013.
This means that people who already have a Leeds property investment are benefitting from excellent rental yields, while those looking for a Leeds buy to let property to invest in are competing against many other buyers.
Projects in the pipeline
The demand generated by the swift return to city centre living has also impacted the Leeds city centre development projects that are currently underway. The pace and delivery of a number of build to rent project is gathering speed, including SOYO and the former Arla site on Kirsktall Road.
So, although some investors may be struggling to find a good Leeds property investment at the moment, there are plenty of buy to let property opportunities in the pipeline.
With the Leeds economy already thriving, it is likely that the rest of the year will prove 2022 to be another strong 12 months for the city.
What is property investment?
Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.
Find out more
If you’re interested in making a Leeds property investment with a buy to let property, don’t miss out on your chance to benefit from the growing tenant demand in Leeds city centre. Get in touch with North Property Group now to find a buy to let property that’s right for you.