- The opening of two-high profile, high-quality build to rent developments in Leeds is helping to make the city the next build to rent hotspot.
- Leeds is one of the UK’s centres of higher education with many students living in high-quality, purpose-built student accommodation in the city. When these students graduate, they often want to keep living in quality, city centre apartments.
- A large amount of blue-chip companies have been making Leeds property investments by setting up headquarters in the city.
The Leeds build to rent property market has truly grown over the last 18 months. Often offering better rental yields than traditional Leeds property investments, these kinds of properties are very popular with investors. And with excellent amenities, they are often a top choice for tenants too.
Here are three reasons why Leeds is set to become the next build to rent hotspot in the UK.
A large number of developments
The opening of two-high profile, high-quality build to rent developments in Leeds is helping to make the city the next build to rent hotspot. The opening of Moda Living’s New York Square and Grainger’s Pin Yard are helping showcase build to rent Leeds property investments as an attractive financial choice.
And these are just two of the nine build to rent developments that are up and running, with another nine still underway.
However, Leeds is suffering from a chronic undersupply of rental accommodation. So even though these build to rent schemes are in the pipeline, they won’t be enough to alleviate the surging demand. This means that people who make a build to rent Leeds property investment will be investing in property that is very sought-after by tenants.
Large graduate population
Leeds is one of the UK’s centres of higher education with many students living in high-quality, purpose-built student accommodation in the city. When these students graduate, they often want to keep living in quality, city centre apartments.
Coupled with the city’s high graduate retention rate, build to rent developments are perfect for this kind of newly-graduated tenant. They’re often located in desirable locations, making them attractive for graduates who don’t want to leave the city centre just yet.
Booming professional jobs market
It’s not just buy to let investors who have been investing in property in Leeds. A large amount of blue-chip companies have been making Leeds property investments by setting up headquarters in the city.
Since 2014, over 3.3million sq ft of office space has been built in Leeds to keep up with this business demand. This has also swelled the professional jobs market in Leeds, increasing the number of workers in the city.
Many of these workers want to live in hassle-free, high-quality accommodation with fantastic amenities and close to their place of work. And build to rent apartments can offer all of that.
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. Individuals or organisations can invest in property and investments can be short, long or medium term.
To find out more about making a Leeds property investment or investing in property anywhere else, get in touch with North Property Group now.
North Property Group has been named as a finalist in this year’s Yorkshire Business of the Year Awards, hosted by The Business Desk.
Cities such as Manchester, Leeds, and Liverpool are not only cultural and historical gems but also burgeoning property investment hotspots.
As the vibrant city of Leeds continues to grow and evolve, it has emerged as a prime destination for property investors seeking attractive opportunities.
With its vibrant economy, diverse property market, and attractive returns, Leeds offers a compelling proposition for those seeking long-term growth and profitability.