In this article we’ll discuss the top 5 areas to invest in Leeds. Our landlord and investors often ask us which areas yield the highest return. Let’s discover the top 5 areas to invest in Leeds in reverse order.
For those of who don’t know Roundhay, it is a large suburb in north-east Leeds. Roundhay has plenty of large houses and is home to the famous Roundhay Park. Roundhay is an ideal location for both families and young professionals. Recently, there have been several developments in the restaurant and bar industry. Roundhay’s proximity to the city centre makes it a safe investment and attracts both easier and more affluent tenants.
This may take some readers by surprise. Harehills has a thriving rental market! Properties are let extremely quickly due to the high demand. Not only does Harehills home St James’ hospital, but it is within walking distance of the city centre. Harehills is popular with foreign tenants which sometimes makes tenant referencing tricky. Furthermore, the standard of housing in Harehills does not compare to those with Roundhay for example. Though similar returns can be achieved without renovating the property, therefore saving you money.
I personally own a rental property in Burley. I strongly recommend Burley for several reasons. Firstly, Burley is only a 10 minute walk from Headingley, where tenants can dine and drink. Secondly, the new developments in and around the Burley/Kirkstall area offer additional attractions. For example, there are now several gyms, supermarkets and shops between Kirkstall Bridge and Cardigan Fields. Lastly, the city centre is only a 5 minute bus away, therefore making Burley an ideal place to live. Feel free to read one of other articles on student or young professional lets.
Is the bubble about to burst!? According to some people, Headingley has reached saturation. However, I strongly disagree. Headingley has a large stock of low-quality housing. A property done to a high standard, with en-suites, will achieve a high rental value. Not only do students want to live in Headingley, but young professionals do too. You’ll see estate and letting agents every day in Headingley.
1. Chapel Allerton
The London of Leeds? Chapel Allerton has re-branded itself as the place to live in Leeds. (I live in Chapel Allerton!). It has excellent cafes and bars along with a strong sense of community. Chapel Allerton is a relatively small area compared to other areas of Leeds. As a result, demand has overtaken supply. Chapel Allerton was recently voted the best place to live in the UK – you can read the article here.
There are several areas in Leeds where we would recommend investing. Harehills, Headingley and Burley are safe bets for rentals. Whereas, you can expect the property price to increase far greater in Chapel Allerton. Read another of our related articles on four reasons to invest in property. If this article has helped you in any way, please feel free to contact us and let us know. Alternatively, if you have anything to add, please get in touch! Read last week’ post on residential vs commercial property in 2018.
Thank you for reading and next week we’ll discuss another exciting topic! If you have any questions or need to chat to us, please feel free to contact us. In the meantime, why not visit our blog. Or sign up to our newsletter to receive automatic updates of new blog posts and exciting competitions.