Bradford is a great place for for investors.
It has the tenth largest economy within the UK.
Read on to look at what you should consider before investing in Bradford.
Demand for rented property in Bradford
Several factors create a high demand for rental properties in Bradford, including:
Bradford’s economy
Bradford has England’s tenth largest economy. It is an important part of the Leeds City Region, providing 15.4% of the region’s total growth.
This is a good predictor of future rises in property values and rental rates.
The city’s strategic plan prioritises improving job prospects and inhabitants’ skill sets. They hope this will create an environment that is conducive to buy-to-let investments.
Businesses in Bradford
Bradford is home to more than 17,000 firms, representing a wide variety of industries.
Notable national corporations that call Bradford home include:
- Morrisons
- Jet2
- Yorkshire Building Society.
With 23.7% of the population under 16, the city’s youthful population is large. It plays a critical role in creating a dynamic rental market.
Bradford property
Bradford offers a more inexpensive alternative to other Northern cities. It has an average house price of £149,784.
Its located in a great spot inside the Northern Powerhouse. This strengthens its accessibility to important cities like London, Leeds, and Manchester.
The Bradford real estate market is strong, and some of the BD1 properties have rental yields of 8–10%.
Bradford Regeneration
Bradford has several redevelopment projects, like:
- The City Center Growth Zone
- The Broadway Shopping Center.
These draw enterprises and generate employment.
Student Accommodation & Bradford
The University of Bradford has a sizable and expanding student population. It ensures a consistent demand for rental properties.
Each year there are events, too. Such as the Bradford International Film Festival.
Investment options in Bradford
Buy-to-Let
Bradford provides a low-cost, low-risk atmosphere with the potential for exceptional long-term gains.
The city’s location and well-priced real estate define it. There are robust rental returns in Bradford City Center (BD1) and the suburbs.
This draws in young professionals to live in Bradford.
Student property
Bradford, which has a flourishing academic environment. There are about 30,000 students here.
The number of students guarantees a steady rental market. But the investment potential is not be as high as in other large university cities. Cities like Leeds, Sheffield, Nottingham, and Manchester are better for this.
Top areas for buy-to-let in Bradford
BD1 – Bradford City Centre
Bradford City Centre presents outstanding potential for buy-to-let investments. It has an average yield of 10.7%.
Typical home prices in this area hovering at £64,805, so it’s well-priced place for early investors.
It’s also appealing because it’s close to Bradford’s university and train stations.
BD3 – Thornbury, Barkerend
The BD3 region includes Barkerend and Thornbury. It’s a thriving area with strong demand for rentals, especially from professionals.
The average property values in this area ranges from £90,000 to £115,000. It provides investors with both present rental possibilities and attractive growth prospects.
BD3’s appeal to investors is further enhanced by ongoing regeneration projects.
BD7 – Great Horton, Lister Park
BD7 includes Great Horton and Lister Park. It is particularly well-served by several bus routes, making it popular with students.
The University of Bradford is within a short distance away. It guarantees a steady demand for rental units.
Investors interested in BD7 should look into Housing Multiple Occupancy (HMOs). This suits student housing.
BD8 – Girlington, Manningham, Belle Vue
The BD8 region includes Girlington, Manningham, and Belle Vue.
It offers a vibrant, varied environment that is enhanced by neighbourhood facilities.
This region is appealing due to its proximity to universities and schools. It attracts professionals, families, and students from the nearby University of Bradford.
BD5 – Canterbury, Holme Top, Little Horton
BD5 is south of the city and near St. Luke’s Hospital. It’s a desirable neighbourhood, especially for medical professionals.
It has an average property price of £105,316. So, this area presents an appealing entry point for investors.
Driven by the local hospital, BD5 boasts a robust rental demand and a noteworthy rental return of 6.1%.
Selling a tenanted property in Bradford
Whether you’re looking to sell a tenanted property in Bradford or anywhere else in the UK, We Buy Any Home can help.
