As a key part of the Government’s ‘Northern Powerhouse’, Leeds is being primed to compete not just nationally, but globally once again – a claim the city has not truthfully been able to make since the Industrial Revolution.
The growing stature and future of the property market is emblematic of the current state of the city. Property values in Leeds have not yet returned to their pre-crash peak but growth is strong and will continue to be for the foreseeable future.
Residential developments, such as the upcoming X1 Aire development on the banks of the beautiful River Aire, have started to be built again in Leeds city centre following a five year break in construction. The Local Authority has laid out a plan for 70,000 new homes to be built in the city by 2028 to keep pace with growing demand.
Leeds has a bright and exciting future ahead of it.
Despite the projected increase in housing stock, property prices are still expected to rise in Leeds – analysts JLL predict a 23.4% increase in house prices and a 22.2% increase in rental yields by 2020.
Internally, the city is currently experiencing an extreme shortage of housing stock and new residential developments will be quickly snapped up by private buyers and investors. Leeds has the largest urban population in Yorkshire and a large body of over 60,000 students at its four universities.
Externally, the number of graduates and young professionals looking North will only increase as the cost of living in London and the South East becomes ever more unrealistic for the average person and as the economy is gradually rebalanced towards the North.
And what an attractive, exciting option Leeds is.
The city is geographically blessed, being only a short journey from the stunning scenery of the Peak District, the Yorkshire Dales and the North York Moors.
A train journey from Leeds will take you to many of the great Northern cities such as York, Sheffield, Manchester and Liverpool. London is a mere two hours away.
All of that is to say nothing of the city itself. Leeds is a fantastic place to live and work.
Lonely Planet describes Leeds as the “Knightsbridge of the North” based on the range of shops and the city’s focus on fashion. The upcoming £50m Burberry weaving mill being built in the old Tower Works will only reinforce this.
The history of the city is fascinating - Kirkstall Abbey, the Leeds City Museum, the Leeds Industrial Museum and the Royal Armouries are sights which demand to be seen. The Leeds Art Gallery, the Henry Moore Institute and the Tetley provide an artistic offering to rival almost anywhere else in the UK.
For those who like life with a little more adrenaline, Leeds has you covered. Leeds Football Club, the Leeds Rhinos and the Yorkshire County Cricket Club are all close by and the city is famously committed to its nightlife.
A financial centre which knows how to enjoy itself. A fashion hub with world renowned sports teams. A home for universities and learning with a proud industrial history. Leeds has a bright and exciting future ahead of it.