Widely considered one of the best places to invest in property. Property investment in Leeds has shown some of the strongest growth seen in the UK property industry over the past year. This article will help you identify the best locations to invest in Leeds.
Is Leeds a good place to invest?
If you are thinking of purchasing a buy to let, there are plenty of reasons as to why Leeds could be the place for you. With the national average house price currently sitting at £362,438*, Leeds’ average house price of £257,023** presents great value and a brilliant opportunity for property investment. These cheaper house prices mean there is plenty of potential for high rental return and high yield.
Leeds has a massive student population with over 48,000 of them studying in the city*, therefore, demand for rental properties in the city is constant whilst also offering high returns due to the high prices of student rent.
On top of this, Leeds is a growing city, there have been huge rejuvenation projects in the city in recent years attracting big businesses, such as Channel 4, to the city. Professionals from all over are flocking to the city as a result of these opportunities and they are going to need somewhere to live. So, that begs the question: where should you invest in Leeds?
Where should you invest in Leeds?
There are plenty of areas in Leeds that present great opportunities for property investment but we’ve compiled a list of some of the best areas so you can determine where to invest your cash:
Hyde Park:
Hyde Park is the most popular student area in the city. With good connections to the city, university campus’ and surrounding areas, this area has lots of appeal for the student population. There is an abundance of cheap terraced housing, perfect for shared student housing. These terraced houses are selling for an average of £236,958** and the average rent price for a student is £443 a month*** per student, so a 4-bed shared house would return £1,772 a month. So, if a cheap student buy to let is what you are looking for then Hyde Park is the place for you.
Leeds City Centre:
With one of the fastest growing economies in the UK, there’s lots of professionals moving into the city centre. The majority of property on sale in the city centre is apartments that have an average sale price of £176,447* and with high city centre rent prices these apartments offer good rental returns. As part of the rejuvenation projects going on in Leeds, there are lots of new apartment buildings popping up with fantastic appeal. You’ll be well connected to other areas, you’ll have a huge selection of amenities and an easy commute to a city centre job. Therefore, the city centre has great prospects for a buy-to-let.
Headingley:
Another big student area near the campus of Leeds Beckett University, Headingley offers student properties that are on average somewhat more expensive and up market than Hyde Park. The majority of housing in Headingley is semi-detached properties selling for an average of £323,160**. In terms of student rents, these higher property prices are matched with higher rent prices. If you are looking for cheaper options then Headingley also has a selection of terraced houses for an average price of £243,956**. Good connections to the city centre and high-quality amenities in the area mean there is also lots of appeal for professionals and families if a student property investment isn’t the direction you are looking for.
Hunslet and Armley:
Hunslet and Armley are the two cheapest areas on this list if you are looking for a property investment on a smaller budget. Terraced houses are the most common in these two areas but semi-detached homes and flats are also available. Average house prices in Hunslet over the past year were £144,226 and the average in Armley was £160,533 going to show that these two areas definitely have some cheap bargains with potentially high yields. With good connections to the city centre, these areas are popular with young professionals in the city.
