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Number 9: Leeds
Average house price 2005: £147,615
Projected average house price 2010: £197,066
Total population: 717,262
Leeds in West Yorkshire is the regional capital of Yorkshire. Great nightlife, shopping, architecture, sports venues and close proximity to the beautiful Yorkshire Dales are just a few of the many attractions that bring over 11 million visitors to Leeds every year.
Property market
Of Leeds’ 307,689 households, 8% are rented privately. Since city living developments began in the early 1990s, Leeds has had £2.5billion invested in property development with a further £4.9billion of projects under way. But a brief reading of the statistics would suggest that there’s a real legacy of oversupply and empty flats.
Most of these new properties are being snapped up by buy-to-let investors, but local agents question whether the rental market is strong enough to absorb them all.
Until recently, rising property prices meant that investors made a good profit when buying off plan at lower pre-construction costs, but with the undeniable housing plateau versus a market flooded with new builds there is a risk that your home could be worth less than the original agreed sale price…
41,438 students live in Leeds, the second largest resident student population behind Birmingham. Leeds has two universities, the University of Leeds and Leeds Metropolitan University as well as various higher education colleges, including Trinity & All Saints’ College. The main campuses of both universities are near the city centre.
The large student population has helped develop a vibrant city nightlife, with over 100 bars, 25 night clubs and 75 restaurants in the city centre alone, as well as numerous live music venues. Towards Millennium Square and the Civic or Northern Quarter, is the newly developing entertainment district which thrives on students. The student population represents the best market for buy-to-let properties in Leeds.
Facts
Local celebs include Sir Jimmy Savile, Chris Moyles, Jeremy Paxman and Helen Fielding
The Lonely Planet Guide to Britain described Leeds as the “Knightsbridge of the North”, referring to the 15 miles of good shopping that can be found there
Over the last 20 years, more jobs have been created in Leeds than any other UK city outside of London, and it remains one of the UK’s principal centres for manufacturing
