LEEDS PROPERTY GUIDE
2019 Celebrating 15 years in business
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Leeds Property Guide 2019
Why invest in buy-to-let? There has never been a better time to invest in buy-to-let in the UK. The number of people renting in the UK is at a modern day high, with an upward trend emerging of young people choosing to rent as an alternative to buying. Dubbed ‘generation rent’, millennials today
the UK, with average asking rents outside
are propping up the burgeoning Private
London rising to over £800 per month for
Rented Sector (PRS) so much so that it
the first time in Q3 2018 – good news for
is predicted that almost a quarter of all
landlords looking for strong rental returns.
£70bn The build-to-rent sector is anticipated to be worth £70bn by 2022 Knight Frank, August 2017
households will rent privately by 2025. As well as rising tenant demand fuelling This is no surprise when you take into
rent increases, national property prices
account that the percentage of 25-to-
are performing well, with the November
34-year-olds who are privately renting
2018 House Price Index from Rightmove
a property more than doubled between
showing strong annual growth in all areas
2003-04 and 2014-15. Currently worth more
beyond the South East and Greater London.
than £25bn, the build-to-rent sector is expected to be worth more than £70bn by
With a clear North/South divide in the
2022 according to industry experts.
housing market buy-to-let investors are looking toward the UK’s booming Northern
The number of people entering the PRS is
£800 Average asking rents outside London hit over £800 per month for the first time in Q3 2018
cities for investment.
pushing up prices across most regions in
Rightmove, November 2018
Leeds House Price Forecast % change pa
19.92%
Growth over 5 years
4%
4% 2018
Source: JLL, 2018
2019
2020
2021
2022
Doubled The percentage of 25-to-34-year-olds who are privately renting a property more than doubled between 2003-04 and 2014-15 The Guardian, 2017
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Why Leeds? Located in the West Riding of Yorkshire, Leeds is one of the largest and most centrally located cities in the UK. It is a thriving urban hub, popular with both students and working professionals. Leeds is one of the UK’s fastest growing
population of Leeds is expected to grow by
cities and has a regional economy worth
approximately 9% from the last recorded
£66.5bn, a combined population of 3
census, to reach a predicted 819,000 by
million and a workforce of 1.37 million.
2024.
LEEDS
Home to over 119,000 companies which contribute 5% of England’s total economic
Not only a centre for business, the
output, Leeds is a global economic
Leeds City Region is home to the highest
powerhouse, with the region’s economy
concentration of higher education
having grown by 40% over the last decade.
institutes outside of the capital, with nine universities that produce 38,900 graduates
Particularly famed for being a financial
a year – a significant contribution to the
and business hub, Leeds now has the
future of the region.
In addition, Leeds is benefiting from government and inward investment that
highest ratio of private to public sector jobs of all major cities outside London. Over the
Aside from education and employment,
next decade, the economy is forecast to
tenant footfall in the Leeds city region
grow by 21% with financial and business
is driven up by its celebrated cultural
services set to generate more than half of
scene which is thriving. With a myriad of
GVA growth in that period.
excellent food and drink establishments, as well as a great music scene, there
In line with a growing business
is much to bring students and young
sector and excellent job prospects, the
professionals alike to the city.
looks to improve transport infrastructure. Positioned in the centre of the UK, the city offers exceptional access to national road, rail and air networks, with London just two hours away by train. With even more infrastructure investment on the horizon, for example the upcoming HS2 high speed rail line, Leeds will be better connected than ever before.
Leeds Rental Growth Forecast
It is no surprise that analysis from industry experts puts Leeds as the best place to be
% change pa
building new homes in terms of value, house price growth, planning success and
JLL predicted in 2018 that rents will grow by 18.8% by 2022
demand. The research highlights that new build homes in Leeds are worth 41% more than properties currently existing in the city, a 13% increase year on year. This, coupled with the local government encouraging the construction of new homes, makes Leeds the perfect place to invest in right now.
2018 Source: JLL, 2018
2022
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Leeds Property Guide 2019
A Business Hotspot In recent years, Leeds has demonstrated its credibility as an economic and employment hub, with job opportunities rising and a host of national corporations moving to the region. The largest centre for financial and
Additionally, Leeds is home to a tech sector
business services outside of London, Leeds
worth £1bn resulting in it being hailed as
is home to many large businesses that see
the “digital capital of the North”. According
the benefit of being based in the centrally
to Invest Leeds City Region the region also
located city. Financial and business
boasts the highest amount of scale-up
services account for 38% of total output in
digital companies outside the South East
the city.
and outperforming Bristol and Manchester for employment growth in digital and creative industries.
Brewery Wharf
“Leeds City Region is an established powerhouse with a £66.5bn economy. Our digital technologies sector combines creative media, data analytics, cyber security, FinTech, telecoms, health and education technologies and is already transforming global businesses. Our region offers an influential ecosystem with a dynamic tech scene and unlimited opportunities for business growth and investment.” Invest Leeds City Region, 2018
Granary Wharf
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Investor Benefits Leeds is a vital part of the national economy and is on the path to serious growth over the coming years. Leeds City Council estimates that the city’s economy will grow 21% in the next decade and another 40,000 people will be added to the population by 2024.
819,000 Estimated population of Leeds by 2024 Leeds Gov, 2017
With that in mind, it is easy to see why JLL anticipates that house prices will grow 19.9% and rents will grow 18.8% by 2022, placing Leeds second only to Manchester in terms of house price growth expectations. Make no mistake; Leeds is a city on the up. As well as being the recipient of a £1bn growth deal – the largest growth deal for any city region in the UK – Leeds is also at the heart of a major transportation upgrade centred around the new HS2 high speed rail line which will slash journey times to the capital.
Leeds is second only to Manchester in terms of house price growth expectations JLL, 2018
26% House prices in Leeds have risen by over 26% in the last five years
This is the perfect time to invest in Leeds
Zoopla, Q4 2018
to take advantage of the current strength of the market and the massive future potential.
38,900 Annually the Leeds city region produces 38,900 graduates from nine universities Leeds City Centre
Invest Leeds City Region, 2018
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Leeds Property Guide 2019
Knight Knox Knight Knox is a market-leading property consultancy with a particular focus on city centre residential markets in many of the UK’s outstanding cities. We are the driving force behind every stage of the development, from the initial land acquisition, through the planning and development of the scheme, and onto the eventual sale and ongoing property management. Our presence at every stage of the
With departments which specialise in land
property lifecycle allows us to design our
acquisition, design, marketing, financing,
developments with the occupier in mind
lettings, property management and sales,
from the very beginning and ensures that
we are one of the few companies which is
we have a real stake in making every
involved at all stages of development.
“They know how to make you feel special” Mr V. Farkas Knight Knox Investor
home perfect. Knight Knox is a unique property consultancy and our outstanding portfolio is second to none.
Total number of UK projects launched As featured in:
Figures correct at time of print (Dec 2018)
60+
£1bn+
Number of completed and occupied developments
Total value of all UK projects launched
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Development Portfolio
THE INTERCHANGE
X1 CHATHAM WATERS
X1 MANCHESTER WATERS
GREATER MANCHESTER
KENT
MANCHESTER
PALATINE GARDENS
GREAT CENTRAL
WALLGATE APARTMENTS
SHEFFIELD
SHEFFIELD
GREATER MANCHESTER
THE TOWER AT X1 THE QUARTER
X1 THE LANDMARK
X1 MEDIA CITY
LIVERPOOL
GREATER MANCHESTER
SALFORD QUAYS
BRIDGEWATER WHARF
X1 THE CAMPUS
ADELPHI WHARF
MANCHESTER
GREATER MANCHESTER
GREATER MANCHESTER
Contact us Whether you are looking for a high-yielding investment property or would like to enquire about becoming part of our extensive Agents Network, please contact us to set up a meeting to further discuss your requirements and determine how Knight Knox can best help you. Get in touch Address: Knight Knox, Quay West at MediaCityUK, Trafford Wharf Road, Manchester M17 1HH Tel: +44 (0)161 772 1370 Fax: +44 (0)161 241 5360 Email: info@knightknox.com Find us online Website: www.knightknox.com
The content contained within is correct at the time of publishing (March 2020).