The Northern Powerhouse - Leeds Rents Set To Grow

Posted by Matt on 26th October 2017

I read a really great report recently called A Property Investor's Guide To The Northern Powerhouse written by RMP Property based in London. They had obviously carried out in-depth research and put a lot of time into this report which highlighted that the Northern Powerhouse is set to reinvent the North of England as money is pouring into the region from overseas and UK-based property investors who are 'abandoning London's housing market'. One of the claims that really caught my eye was that Leeds rents are set to grow faster than any UK city in the next five years.

If you are wondering what the Northern Powerhouse is exactly the report describes it as being a physical entity, a collection of projects and investments focused on a region in the North of England which includes Liverpool, Manchester, Sheffield, Hull, West Yorkshire and the North East. Collectively this region is home to 15 million residents which is a vast number of talents and capabilities packed into one region, dwarfing London's 8.6 million population.

The report claims that for the first time ever, we are looking at a vibrant region that can compete with London and truly make its mark. The aim is to transform northern growth, re-balance the country's economy, and establish the north as a global powerhouse.

"By Investing In The Infrastructure Of The North Of England, Businesses Will Be Encouraged To Create More Jobs In Other Areas Of The Country And, Therefore, Ease Pressure On The London Housing Market"

The report makes some interesting points for any potential investors:

  • £13 BILLION BEING SPENT ON TRANSPORT OVER THE NEXT FOUR YEARS
  • GDP OF ALMOST £350 BILLION MEANING THE NORTHERN POWERHOUSE WOULD BE THE 10TH BIGGEST ECONOMY IN EUROPE IF IT WERE A COUNTRY
  • HOME TO 1/3 OF THE UK'S APPRENTICES
  • £150 BILLION BEING SPENT ON HEALTH
  • £45 BILLION BEING SPENT ON SCHOOLS
  • A DYNAMIC ECONOMY OF 15 MILLION CONSUMERS; MORE THAN BELGIUM OR PORTUGAL
  • CONNECTED TO NATIONAL AND GLOBAL MARKETS

Those of our landlords that already invest in West Yorkshire will know what an attractive property investment location it is. The report highlights Leeds as having a booming economy and a large student population. It also highlights the strong, skilled workforce, with continual investment in the area creating new job opportunities and attracting new residents.

"Yields are high in West Yorkshire and opportunities are abundant for those looking to invest in a location that combines city life with the tranquility of the Pennines" 

The report also highlights some very interesting points and investments in Leeds alone:

  • LEEDS RENTS SET TO GROW FASTER THAN ANY UK CITY IN THE NEXT 5 YEARS
  • THE WEALTHIEST CITY IN THE NORTH OF ENGLAND
  • £40M - INNOVATION AND ENTERPRISE CENTRE AT LEEDS UNIVERSITY
  • £150M - VICTORIA GATE SHOPPING CENTRE IN LEEDS CITY CENTRE
  • £1.5BN - SOUTH BANK, LEEDS

If you would like a copy of the full report please email me direct and I will link you to the PDF. In the meantime, if you would like any advice on investing in Leeds, please do not hesitate to get in contact for an informal chat, and a coffee if you are passing through this very exciting Northern Powerhouse of a city.

By Matt

Redbrick Properties was established back in 2002 and since then has gone from strength to strength building up a fine portfolio of residential properties along the way.

We could never be accused of being a faceless agency as both Mark and I still work front-line in the office along side our experienced and capable staff.