A report from property investment company IP Global has named Leeds, alongside the other northern ‘powerhouse cities’ of Liverpool and Manchester, as a global investment hotspot.
It’s not hard to see why…
Named as the UK’s fastest growing city by Grant Thornton’s Vibrant Economy Index in January of this year, the economy in Leeds is worth over £21 billion per annum. This is, in fact, the largest economy outside of London.
In the last 10 years, £3.9bn worth of major development schemes have been completed in Leeds, with an addition £7.3bn in projects currently underway or in the pipeline.
For international Investors looking beyond the capital, Leeds is an obvious choice. But it’s not just the strength of economy that is so attractive but also the growing population and subsequent increased demand for housing.
We all know that Leeds is a thriving student city. Students flock in droves to Leeds and – more often than not – once they get here, they are reluctant to leave and stay on afterwards. The combination of student, alumni and professionals means that it’s now the UK’s 7th fastest growing resident population. This is only set to grow, with an increase of 9.6% predicted by 2033 according to the Office of National Statistics.
So what does that mean for Investors?
It means that there is a huge – and growing – demand for accommodation in Leeds, creating a naturally buoyant rental market. There has never been a better time to invest in Leeds as more and more Tenants (both students and professionals) are seeking quality accommodation in the city.
If you’re looking to invest in Leeds, why not give our Sales Team a call on 0113 322 9533 or click to read more about our Property Sourcing service.