Member Article

Headingley Named As Top Property Hotspot

THE POPULAR Leeds suburb of Headingley has been named as the UK’s top rental hotspot in terms of yields, and longstanding lettings agent Morgans says it comes as no surprise, as the area continues to reinvent itself and sheds its reputation as a student enclave.

The research by comparison site TotallyMoney revealed that investors buying property in the LS6 postcode, can achieve rental yields of 10.79%, which compares to the national average of 3.3%. Parts of Bradford and York also performed well, at 10.33% and 9.73% respectively. TotallyMoney analysed 303,822 properties for sale, and 137,955 properties for rent, to come up with its rental yield figures.

Leading Leeds lettings agency Morgans first opened an office in Headingley in 1998 and now operates from a 1,200 sq ft office opposite Headingley’s Arndale Centre on Otley Road. It manages a wide selection of homes from one bedroom apartments through to large family homes ranging from £500 to £1,500 per calendar month.

Jonathan Morgan, Managing Director of Morgans, says: “In recent years Headingley has changed dramatically. Whereas students once played a large part in the area, the vast majority have deserted this traditional heartland in order to live as close as possible to the city centre, as well as Hyde Park and Woodhouse, which are both on the up in terms of the popularity stakes.

“As a result, many student landlords in Headingley are upgrading their properties so they will appeal to young professionals and families in the private rented sector. Lots of our tenants are now recent graduates, teachers, lecturers and young doctors who appreciate Headingley’s proximity to the University and Hospitals as well as its parkland, transport links and the ever-growing array of shops, bars and restaurants.

“Many of those who would have previously focussed their home search around Chapel Allerton, can no longer ignore the pull of Headingley, and this surge of demand has led to strong rentals over the last few years- we expect this to continue. Although property values are also rising, this is happening at a slower rate, and that’s why the area can deliver impressive rental yields.”

Finally Jonathan says: “Headingley offers a superb range of property, from smart, modern apartments through to larger family homes, and new build developments as well as lots of period properties. It is an increasingly obvious choice for investors looking for security and good long term prospects.”

Morgans is renowned in North Leeds for its tenant, property investor and landlord services.

This was posted in Bdaily's Members' News section by Steven Wright .