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Leeds Named Best Place To Live By Sunday Times

March 21, 2024

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Leeds

Leeds has been named as the best place to live in the North and North East region by The Sunday times in their coveted Best Places to Live 2024 guide.

Leeds has recently been crowned as the best place to live in the UK’s North and North East by The Sunday Times (March 17). It overtakes other northern powerhouses such as Newcastle, York, and Durham. It was awarded the top place to live for the region in 2024 and joins the group of top 72 places to live throughout all of the UK.

Of this eclectic and bustling northern city, The Sunday Times said, “Leeds has established itself as the true northern powerhouse and is the perfect place to enjoy a good life on a good salary.”

 

Leeds: Best Place To Live

A range of factors were considered for the West Yorkshire city to acquire the top position. Leeds city centre is home to plenty of art galleries, theatres, music venues, and more to keep residents and visitors occupied. Notable venues include the Leeds Playhouse, Leeds Grand Theatre, Leeds City Art Gallery and the Henry Moore Institute.

Dance halls are also popular and a big feature of the city, including the Phoenix Dance Theatre, Northern Ballet, Yorkshire Dance, and RJC Dance. It is also considered one of the UK’s market towns, with plenty of markets for residents to enjoy.

This small northern city is also surrounded by plenty of parks and green spaces. Roundhay Park is a notable example, which is a family-friendly park right in the middle of Leeds city centre. Some of the UK’s best national parks are a short drive away, such as the North York Moors National Park, the Yorkshire Dales National Park, and the Peak District.

It is home to two world-class universities, the University of Leeds and Leeds Beckett University, as well as countless colleges and schools.

Of the city, The Sunday Times reported, “Leeds has the best-paying jobs outside London. Five universities provide youthful energy and it’s the only UK city outside London to have its own opera, ballet, and theatre companies. The markets, Victorian arcades and Trinity Leeds mega-mall make it one of the country’s top shopping destinations.” 

There are plenty of suburbs in Leeds that are nice areas to live in. These include the semi-rural areas such as Alwoodley and Horsforth, as well as Chapel Allerton. There have also been the addition of eco homes in the city centre that are popular with renters in the Climate Innovation District.

Transport links for Leeds is strong, with trains and buses that connect residents to the area and beyond. The city is easily accessible via other cities and is only a two-hour train ride from London.

The Sunday Times’ Best Places to Live Guide has become an annual roundup for villages, towns and cities across the UK to compete for the revered top spots.

 

Working Leeds

Leeds city centre has become synonymous with business. The city is currently home to big household names such as Asda Group, First Direct, Centrica, Ventura, BT, Direct Line Group, and Yorkshire Bank. 

It recent years, Leeds city centre has fashioned itself as a northern tech hub. Esteemed tech-focused businesses such as Answer Digital, Sky, The Oakland Group, Cooperative Innovations, and many more all have bases or headquarters in this leading city.

It has been marked as one of the fastest-growing tech hubs in the UK. In 2022, Leeds received a staggering 88% increase in venture capital investment into the city’s startups. This took investment from £153 million in 2021 to £288 million in 2022.

Leeds is most noted for being a FinTech capital. Leeds city centre is teeming with finance consultancies that work in regulated markets, compliance, and more. Notable companies include BJSS, AND Digital, and Infinity Works part of Accenture. This naturally drives more innovation and investment.

It is this drive for innovation and the wealth of leading companies and industries that has made Leeds popular with graduates and young professionals. The city has a graduate retention rate of nearly 30%, with plenty of ex-students opting to remain in the city to live and find work.

These statistics spell good news for potential investors, as there are plenty of students and young professionals looking for rental properties. These high-quality tenants ensure that they treat properties with respect.

 

Northern Investment Hotspot

Leeds is one of the best investment hotspots in the north. With a population of 800,000 and growing, now is a better time than ever to get on the property investment ladder in Leeds – especially now it has been named a best place to live by The Sunday Times.

In Leeds, there are many properties available for investors, including buy-to-let and new build options. The city is undergoing regeneration and development to meet the demand for housing, as more and more people look to the north for cheaper rents and house prices. 

House prices are also notably lower than in London. Average house prices in London went for £729,802 over the past year, according to Rightmove. Terraced properties sell for an average of £833,439 and semi-detached go for £832,987.

In Leeds, house prices on average stood at £254,781 in the same period. Semi-detached house prices were £254,997 and terraced house prices were an average of £184,782. Detached properties sold for £470,951.

This is an attractive opportunity for investors, as lower house prices tend to spell good returns. As house prices increase across the country, it means that these properties will only appreciate over time. Currently, the demand for properties is high, especially as more young people and students move to the city.

The rental yields for the city is also strong. Leeds city centre shows good yields of over 6%. The average rental yield for the LS1 postcode is 6.9%. LS2 postcodes yield an average of 8.4% and LS3 postcodes can even have stronger returns with an average yield of 12.0%.

 

Summary

North Property Group has special access to high-quality new properties in Leeds, offering great investment opportunities for you. We specialise in finding the best property investment opportunities in Leeds and the north of the UK.

We are knowledgeable about the UK real estate market. We can provide expert advice to help you maximize your investment. Book a free consultation with us today so we can help you unlock your investment potential.

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