The Property Market in Leeds
Leeds is the UK’s fastest-growing city. With average yields of 8.7%, some of the highest in the country, Leeds is full of potential for buy-to-let investors. The city boasts a young population of students and professionals. Thanks to Leeds’s award-winning universities, student accommodation is in demand, and with graduate retention rates in the city, the working population also demands rental property.
Leeds is a rising city with strong economic potential. In the years ahead, both house prices and the rental market are expected to grow. Investors can be sure of finding tenants for their property with ease, and as well as of high returns on their investments due to yield potential. The number of people moving into the city is steadily increasing, meaning rental prices are increasing too. On average, first-time property buyers are only purchasing homes from the age of 33 and upwards, and the young population in Leeds means that rental demand is growing rapidly.
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- Leeds has an annual need for 14,900 new homes
- 9.2% YoY growth recorded in Leeds by the Hometrack Cities Index
- The average house price in Leeds is 27.67% less than the UK average
- Leeds is an extremely affordable location considering lifestyle and salaries
- The cost of living in Leeds is 36% less than in London
- Property prices in Leeds are 7.06% higher than a year prior
- Leeds property prices are set to increase by 4.0% in 2023, 3.5% in 2024, and 3.0% in 2025
