Pluxa Property is a trusted property investment company in Leeds, committed to turning your investment goals into reality
About Leeds
Leeds, located in West Yorkshire, is a prime and well-connected location in England, bursting with life and cultural energy. It is suitable for property investors because of Leed’s diverse economy, high rental yields, affordable properties, growing infrastructural developments, international events, and multiple tourist attractions. As a financial and digital hub, Leeds attracts businesses and young professionals, driving the demand for residential and commercial properties. The city’s universities and hospitals further enhance the rental market. With ongoing regeneration projects like the South Bank Leeds, property investment opportunities are abundant in the city.
Leeds has established itself as one of the UK’s fastest-growing cities. Its economic scenario presently stands at £64.6 billion and is expected to grow by 21% with financial and business services over the next ten years, which will generate more than half of GVA growth over that period. Most of the economy in Leeds is based on some of the most in-demand sectors, such as creative and digital businesses, healthcare, financial and professional services, retail, construction, tourism, and manufacturing. To support this economic growth, multiple office sectors are being established in the city, creating thousands of jobs for young professionals. This has resulted in increasing commercial property investments for building more office spaces year by year and residential property investments to cope with the increasing demand for rentals in the city.
One of the major reasons Leeds has become a premium property investment hotspot is its large and growing population. According to reports, the population of Leeds increased by 8.0% between the 2011 and 2021 censuses. Most of the population growth is due to the increasing number of students and young professionals from around the world coming to the city for better opportunities, influencing property investors to choose between buy-to-service or rent-to-service properties. Both of these accommodation facilities are profitable in Leads due to higher rental yield. The present employment rate in Leeds is 74.7%, which is quite attractive in comparison to multiple other cities in the UK.
The average house price in Leeds as of May 2024 is £232,000, which is 1.1% higher than in May 2023. Not everyone can climb the property stairs easily and prefer renting properties. However, the property prices in Leads are comparatively lower than in other cities in the UK. For that, investors purchasing or leasing a property becomes easy as they can make higher returns by putting these properties into rentals.
Property prices are expected to change by 18.8% between 2024 and 2028, which will increase the demand for rental properties. Rents in Leeds are also increasing, which makes investing in properties a lucrative option for real estate owners. The average monthly rent in Leeds is £1,102 as of June 2024, which is 7.2% more than the average monthly rent last year.
Moreover, Leeds is converting itself into a great place for business and tourism, so people often visit the city. Their rising population, looking for short-term homes like rentals, creates demand for rent-to-service and buy-to-service accommodations.
According to recent reports, Leeds has received more than £3.9 billion in investment for large-scale development projects over the last decade and another £7.3 billion for development under construction and in the pipeline. This has improved the city’s living standards, provided better transportation and higher educational facilities, and increased job demands, leading to more people shifting to Leeds and fueling property investments.
The size of Leeds’s economy (source): £64.6 bn
The population growth rate of Leeds between 2011 and 2021(source): 8.0%
The average housing price in Leeds (source): £232,000
Property price rise between 2024-2028 (source): 18.8%
Rise in average monthly rent in Leeds (source): 7.2%
Employment rate in Leeds (source): 74.7%
Rent-to-service accommodations are the properties that investors rent or lease from homeowners and use for short-term rentals, usually at higher nightly prices. Investors guarantee that they will pay a monthly rent to the homeowner while generating higher returns from their investments. It is similar to hotels where people can find a home when they are away from their real home. Rent-to-service accommodations are suitable for tourists and business travelers.
Buy-to-service accommodations are properties that investors purchase from homeowners and then use for short-term rentals. They are suitable for single travelers and families willing to rent a property on a short-term basis. Unlike hotels, these accommodations provide more space, privacy, and flexibility to renters. They are popular among business travelers, tourists, and anyone looking for temporary accommodation.
BRRRR (Buy, Refurbish, Rent, Refinance, Repeat) properties are available at lower prices. Investors buy such properties, refurbish them to increase rental value, rent them, refinance to pull out their equity and repeat the process. These properties can also be used for long-term rentals and are suitable for people planning to build their homes, students, and young professionals looking for temporary accommodations.
Leeds made a huge investment in its city development and regeneration projects even after facing numerous national and international uncertainties. This is one of the top reasons for growing property investment in the city. According to Deloitte’s Crane survey data, the development cycle of Leeds, which began in 2014, has reached its peak over the past two years.
There are multiple Leeds regeneration projects that improve the appeal of property investment in the city. The government focuses on revitalizing six associated neighborhoods of Leeds: Mabgate, Eastside & Hunslet Riverside, South Bank, Holbeck, West End Riverside, and the Innovation Arc.
The £500 million South Bank regeneration project is one of the city’s ambitious initiatives aiming to double the size of the city core by utilizing the land south of River Aire, creating 35,000 new jobs and 8,000 new homes.
The Wellington Place Financial District of Leeds is also undergoing transformations. This initiative is planned to create 156,000 square feet of office, retail, and leisure spaces. According to the report, this project will ensure a lifetime earning uplift of £6.1m, create 60% jobs for Leeds residents, and save 1,000 tonnes of carbon dioxide emissions.
Some other regeneration projects in the city are the £2.5bn West Yorkshire Mass Transit System, £36.4m in Leeds Existing Station Programme, Holbeck Portfolio Sites, The Historic Hunslet and Victoria Mills, Tower works, and more. These regeneration projects aim to make Leeds a better place to live, create new homes for the city’s increasing population, and create more job opportunities.
Leeds is quickly developing as a hubspot for property investment, and Pluxa Property can help investors make the most of this opportunity. We are an experienced property investment company in Leeds, providing consultations and helping investors choose the right property for over 10 years. This has helped us gather relevant knowledge of property investment, which allows us to help investors find properties that can generate higher ROI.
We source properties at prime locations of yields, which ensures you get a regular flow of tenants and better monthly cash flow. Our services revolve around buy-to-service and rent-to-service properties, BRRRR properties, and overseas property investment. Not only do we source and negotiate the terms while renting or purchasing a property, but we also help you refurbish them and make them 100% ready to rent. Your property investment in Leeds will become easy and stress-free with us!
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Yes, Leeds is a good place to invest in property. It is an industrial city with thousands of companies attracting young professionals looking for short-term rentals every year. Leeds has the best educational institutions, ongoing regeneration projects, good connectivity, better amenities, and multiple tourist spots, and therefore, it is suitable for property investments.
Yes, Leeds is good for real estate investment. Its regeneration projects are creating huge opportunities to drive more people to the city and create huge demands for rentals. Also, the city hosts numerous international sports and festivals that attract tourists throughout the year. Real estate investors can purchase properties in prime locations at affordable prices and use them as serviced accommodation to earn higher rental yields.
The best areas to invest in Leeds are Headingley, Morley, Leeds City Centre, Chapel Allerton, Kirkstall, and Armley. Some of these places, like Leeds City Centre, Chapel Allerton, and Kirkstall, are having multiple regeneration projects, which will create better opportunities for property investors in the coming years. Choosing the right property largely depends on its location, which will further help investors enjoy good rental yields.
A good rental yield in Leeds is typically between 6%-8%. This range often offers a good return on investment, reflecting the higher rental demands in the city. Headingley and Woodhouse can provide higher yields as these places are overcrowded by students and young professionals in their vicinity of educational institutions and business hubs. The rental yield in Leeds can vary from place to place depending on their location, demand for rentals, transportation, and standard of living.
The types of properties available for investment in Leeds are Buy-to-Service, Rent-to-Service, and BRRRR properties. They can fulfill the temporary accommodation needs of the growing population in Leeds and usually provide better rental yields than traditional rentals to property investors. BRRRR properties are available at lower prices than other types but require a little investment in refurbishing and preparing them for rentals.
The rental market in Leeds is good compared to other UK cities. The average monthly rent in the city is around £1,102, which is up 7.2% from previous years. In comparison to Brinhimgam, Manchester, and London, the rental market of Leeds is a little affordable, but for property investors, it can still provide better returns than several other cities in the UK. Its ongoing regeneration projects and economic growth increase property values, making Leeds a favorable place for property investments.
To make the right property investment in Leeds, consult with the experienced professionals at Pluxa Property. The agency has over ten years of experience working with numerous property investors and assisting them in making the right property decisions. You can choose properties available on the Pluxa Property platform, check their neighborhood for prime locations, look into the facilities, find the prices, and select the one that suits your requirements. If this seems confusing, consult with our professionals!
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