Landlords operating in the Yorkshire and Humberside areas are some of the keenest investors in UK property, following research that suggests that more landlords will purchase buy-to-let properties than in any other region.
The research, conducted by Knight Knox, suggests that 60% of landlords operating within Yorkshire and Humberside will be looking to purchase property for rental purposes in the next five years, which is an astonishing 20% higher than the national average. Figures also reveal that nearly 50% of landlords in Yorkshire will be dependent on buy-to-let properties as their main source of income, which is much higher than the third of Londoners in the same boat.
Leeds is one of Yorkshire’s Main Attractions
For those considering making their first or next investment into the Yorkshire property market, Leeds is a very popular location, and with good reason! As part of the Northern Powerhouse initiative, Leeds has developed into a big player in the UK property market, seeing continued success recently where property is concerned. Leeds has so much to offer to landlords and tenants alike, attracting various types of people to the city, making it a very exciting investment location for investors to consider.
The Economy in Leeds – The city of Leeds is one that has transformed over the years, becoming a growing city that is enjoyed and visited by many. With this in mind, the economy has continued to improve over recent years, with employment increasing thanks to the development of the retail and financial sectors. Such developments to the important sectors are continuously attracting people to the area, with students and young professionals looking to benefit from fantastic opportunities.
A Population Increase – The population of Leeds has increased significantly recently, creating a huge demand for property within the city. The current supply of property doesn’t yet meet the demand, meaning that for those investing in Leeds; you won’t be short of interest in your property. Many developments are currently in the process of being built to match the demand, and so investors are encouraged to capitalise on this and purchase themselves a promising investment opportunity.
Developing the City – Leeds is continuously being developed, with investments into the city meaning that transport, infrastructure and property can experience a significant improvement. Transport within the city is set to be improved, whilst the Leeds Train Station is set to undergo renovations in a bid to make real improvements. As well as this, HS2 is set to be introduced as part of the Northern Powerhouse initiative, which won’t only help to improve the economy of the city, but also its growing transport links.
Hopwood House are property investment specialists in the buy-to-let and student property markets, with a large portfolio of UK property investments in Leeds, Sheffield, Manchester and Liverpool.