Landlords in Leeds
Leeds has the proud stamp of a burgeoning hive of commercial activity, with booming employment prospects, universities amassing a population of 752,000 students, and rural retreats plentiful with over 4,000 hectares of green space. What’s more, our city encompasses a vibrant mix of activity that takes residents from day to night in one jam-packed transaction that evades breaking the bank, often leaving change to spare.
There’s a lot to do in Leeds. Our residents can often find themselves enjoying cultural venues from the Henry Moore Institute to Leeds Art Gallery and the Royal Armouries. The vast array of independent and high street shops laid out across the City Centre and of course in the Trinity Centre also prove to be a real draw to the area – pulling in residents of other nearby towns and even other major cities. These days Leeds is one of the most popular shopping venues outside of London. Other advantages include the eclectic music scene presented across a number of unique & independent venues in addition to the world famous artists that visit the Leeds Arena. In addition to this there’s the absolute spoiling for choice when it comes to restaurants and bars. Just minutes out of the centre there’s family-friendly fun with the leafy green delights of Golden Acre Park, the tree-lined Roundhay Park and its neighbouring wildlife attraction - Tropical World.
These are just some of the assets that bring to our city a fleet of work-hard play-hard professionals, domestic and international students, and growing families alike. Many are looking to sample a taste of fast-paced living and the amenities that partner this, while still being in a peaceful and comfortable place of abode. This quality of Leeds-living represents a significant perk of urban life that not many European cities can rival. That’s not to mention the property prices; with flats and houses in Leeds going to auction as low as £30,000, an overall average of £180,000, and £138,000 average in the City Centre.
With such low-cost property prices and an expansive base of prospective tenants to pull from, it’s relatively easy for new landlords to climb onto the first few rungs of the property ladder in Leeds, just as it is for property moguls looking to expand their buy-to-let empire. It’s also worth noting that Leeds offers very reasonable capital market growth in relation to the relatively low-cost property, representing an overall average increase of 5% on the previous year. This attractive growth rate is further bolstered when considering the roster of high-spending tenants the city draws in who can afford to spend on rent what they make up for in cheap living costs.
Leeds therefore poses fantastic potential for buy-to-let investors if they can tailor their property to the requirements and tastes of these varying demographics against the competition, which is beginning to heat up again since the market crash of 2007. The increasing supply of new-build apartments in Leeds City Centre will also serve to drive competition among landlords and bridge the price gap between City Centre and outskirts – rendering it increasingly important to boost rental yield through unique, high-specification finishes throughout the home.
While our guide offers a top-level approach to letting in the area, we are also delicately in tune with the sensitive nature of the property market in Leeds and surrounding areas. This means we recognise that your property deserves more than a general, sweeping approach to letting.
With this in mind, the services at our independently owned Hunters branch in Leeds are propagated by the resources of a nationwide network, meaning we can employ a marketing strategy for letting your property that incorporates leading techniques. To find out more, get in touch with us today, where one of our lettings specialists will be more than happy to discuss your criteria.