Leeds is the UK’s fastest growing city with a regional economy of £64 billion and a combined population of 3 million people, of which 1.3 million are working close by. Recently voted as UK’s best cultural places to live by The Times, it came out on top against London’s Kings Cross and Manchester’s Northern Quarter.
Leeds is widely known for its great culture and social scene. Culturally a very rich city with art and architecture, music, sport, film and television too. Leeds is the largest area within Yorkshire and especially well located for business both regionally and nationally.
As with any investment into property, there’s always a best time to invest. Leeds hasn’t seen any real development or redevelopment for years, until the last year that is anyway.
With the starting of £300 million SOYO Scheme north of the city bring amazing new design, architecture and business to the area, this alone would be enough to drive values of rentals higher along with values on property too.
Residents and investors are now brimming with confidence as Leeds announced the new Southbank project worth a massive £350 million, will in effect double the size of the city whilst building a brand-new integrated train station especially for HS2 to run straight into the centre of the city. Leeds will start to really content with Manchester for a place as Britain’s second city.
As Leeds has for perhaps the last 6 or 7 years, had no real new developments within the residential sector, it’s easy to see why so many investors and residents are keen to buy into the city now. So, when considering when the best time might be, for many, it’s evident that we get involved with Leeds right now before these projects complete and push prices and rentals higher. It’s not often we get to see an opportunity to capture growth in real terms like this.