Leeds is the UK’s second financial city behind London. With financial institutions and law firms in abundance, Leeds is a sought after city for investors.
Situated in the centre of West Yorkshire, Leeds is a short distance from other major cities such as Manchester, Sheffield and Nottingham. Being in close proximity to major roads such as the M1, M62 and A1, places Leeds as one of the top Buy-to-Let cities in the UK.
The economy has changed dramatically in Leeds. We have seen the City change from a manufacturing focus to one where the service sector now dominates. Leeds suffered badly after the 2008 crash and in 2012 prices were still 2.8% behind their peak. We are now starting to see those green shoots come through again, hence why investors are starting to take Leeds seriously.
Like the economy, Leeds’s property market took a huge tumble after the recession. This is now what makes the Buy-to-Let market so attractive. Prices have not yet recovered to where they were before, but demand for rental property is extremely high. Due to this it is not unusual to see yields in Leeds of over 8%. Leeds also has a large student market, making it a great opportunity for investors who look for student property.