Located just 10 miles from Leeds, a 90-minute drive from Manchester and Liverpool, and close to Leeds Bradford international airport, Bradford is a hidden jewel in West Yorkshire. Although it has often been overlooked by property investors in the past, nowadays its flourishing economy, low property prices and great yields are quickly turning Bradford into a buy-to-let hotspot as it is perfect for property investment.
Lots of Investment
Bradford is one of the fastest growing cities in the UK. The city has received almost £800 million investment into its business, retail and housing sectors in recent years. It is perfectly placed to benefit from the Northern Powerhouse scheme due to its close proximity to other major northern cities. Bradford city centre will also soon be home to a stop on the Northern Powerhouse Rail. This will quickly connect commuters and businesses with the rest of the country.
It isn’t only businesses that are profiting from the major investment into Bradford. The city is undergoing a massive regeneration project that will benefit Bradford’s residents. The recently opened Westfield Shopping Centre in the heart of the city has brought a wealth of world-famous shops, eateries and brands for Bradford’s citizens to enjoy and there are plenty more plans underway.
Increasing employment prospects and low costs of living are attracting new residents to Bradford too. The city is also home to a number of leading UK businesses including Yorkshire Building Society. Also, Bradford has proudly maintained a solid heritage in modern manufacturing with 160,000 jobs across the wider region.
High Student Population
Bradford is also a student city. Bradford University is in the top 10 for graduate employment in the UK and attracts 35,000 students to the city each year. Therefore, Bradford makes a great place for property investors interested in student accommodation.
With all this in mind, it’s unsurprising that Bradford’s economy is worth £9.5 billion. Valued in the UK as the eighth largest it is. Third largest in Yorkshire after Leeds and Sheffield. By next year, the city’s economy is predicted to have grown by 25% over the previous decade. Expected to keep on rising it is.
Property Investment Opportunities
There are excellent opportunities for property investment in Bradford. House prices are some of the least expensive in the UK. Also, The Little Germany area of the city offers some of the best yields in the country at 8%. The new Lofts at Pennine House project in Little Germany will rejuvenate a 19th century warehouse into over 100 luxury apartments. This development is well worth any property investor’s consideration.