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According to a report by PropertyData, buy-to-let properties in Bradford benefit from some of the UK’s highest yields. The average rental yield in the UK is currently 3.74%, which would be considered average. However, in Bradford, investors can expect to achieve net yields of around 7%, far higher than the UK average.
This is because rental demand has increased, meaning rents are heightened when compared to a property’s market value. The average property in Bradford has a rental price of £779 pcm, which is below the national average. This is great news for investors as rental demand will remain high due to fair pricing but will still generate high rental yields.
Average property prices in Bradford are currently £190,191 according to Rightmove. This is considerably lower than the neighbouring city of Leeds, where average property prices currently stand at £209,000. This means investors can often get better value for money in Bradford, which benefits from some of the same amenities and connectivity as Leeds.
Lower prices and less competition put investors in a really good position to secure top property in the area. As Bradford continues to grow, property prices will increase in the city. This means investors could benefit from strong capital growth over the next decade, once regeneration projects are complete.
Fast Growing Population
Bradford is currently one of the fastest areas outside of London for population growth. According to the 2021 census, Bradford has a population of 546,400. This represents an impressive 4.6% growth from the previous census in 2011 and a 13.8% increase since 2002.
Areas with large rises in the population are usually followed by an influx of amenities and housing. This is because of the supply and demand imbalance caused by an increase in residents.
UK City of Culture 2025
Recently Bradford was unveiled as the UK’s City of Culture for 2025. Dubbed a new chapter for Bradford, the plans have drummed up a lot of excitement around the city. The event aims to celebrate the heritage, diverse population, and young residents of the city. In order to deliver on the mission objective, a large inwards investment of £175 million was made, which has been invested into the city’s infrastructure.
Additionally, the plans will create thousands of new jobs for residents of the city, across various industries. Therefore, this will boost the local economy in the area. For investors, this means they can benefit from capital appreciation, as often a strong local economy coincides with a growing property market.
Often cited as the youngest city in Europe, 29% of Bradford’s population is made up of residents under 20. This is far ahead of the UK average of 21%, in part due to the success of the University of Bradford.
Investors can benefit from the demand for tenancies from university students, graduates, and young professionals in the area. In areas where there is a young population, accommodation comes at a premium in top locations.
Widescale regeneration is underway in Bradford, to help boost tourism, improve quality of life, and create new jobs for residents. Firstly, to coincide with the City of Culture title, the city will build a 3,800-capacity live music venue, dubbed Bradford Live. Furthermore, the city will introduce Darley Street Market, a three-storey marketplace on the high street. This will help local vendors build up their small businesses by offering a prime location with plenty of attractions for residents.
Additionally, work is ongoing to transform One City Park, a Grade A office space. The building will accommodate up to 450 new jobs, attracting top-class businesses to Bradford and skilled professionals. These projects will help Bradford meet its goal of attracting new businesses, enticing skilled professionals, and improving the quality of life for residents.
Bradford is an incredibly well-connected city with Leeds, Harrogate, York, and Manchester all within an hour of the city centre. Since the pandemic, there has been a rise in hybrid working, with workers commuting to the office a few days per week. Bradford can support these professionals, who are looking for more affordable accommodations.
Additionally, residents can make the most of what Yorkshire has to offer. Bradford offers residents a good mixture of countryside escapes and large city amenities, creating a nice balance between the two. Furthermore, Leeds, Manchester, Sheffield and Liverpool are all short train journeys away, which allows residents to travel freely between some of the top northern locations.
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