22 Jun 2023

Bradford: An Up-and-Coming Area

Category: Bradford

Named as the ‘Best City in the UK for Investors' in 2022 out of 34 cities, Bradford has been recognised as an up-and-coming area for significant economic growth. Bradford is one of the fastest-growing populations in the UK, having seen an impressive 13.8% increase in just a decade.

The population of those under 20 is 29% against the UK’s average of 21%. Because of this and as a connected location, rental demand is high. Named the City of Culture 2025, and with many regeneration projects increasing the city’s desirability, Bradford should be considered as an excellent up-and-coming area to invest in. There is an opportunity here that no investor should miss.

Author: Becky Mundie

Digital Marketing Executive

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Key Connections

Bradford is a key, central location. Offering affordable housing and excellent connections to key players in the Northern Powerhouse, it especially supports those who hybrid work. Commuting to Leeds, for example, takes approximately 40 minutes by car and half that time by train. Other than Leeds, residents from Bradford can reach the likes of Manchester and Harrogate in under an hour.

No one can forget Leeds Bradford Airport, either. It is the UK’s fastest-expanding regional airport, recently achieving a worldwide reach with a record-breaking 80 new destinations being introduced through 2023 and 2024. The annual 4 million passengers will undoubtedly grow under this expansion, increasing the desirability of Bradford with it.

If this was not enough, an £80 million revamp of the city’s transport is in the pipeline. This includes introducing new park-and-ride services and more cycle and bus routes. These are alongside the addition of a Public Transport Corridor to an existing pedestrian route, linking cherished Little Germany straight to The Broadway Shopping Centre. The multi-million-pound transformation will improve Bradford’s transport infrastructure. While making it easier for residents to travel through the city for work and leisure, the local economy will experience a significant boost.

The Bradford Property Market

Bradford offers average properties priced at £190,191 and rental yields as high as 7%. This is compared to the 3.74% UK average. The city has even been named the most affordable city for first-time buyers in the UK, with these properties averaging £104,643.

Due to its young population of 29%, Bradford sees high rental demand from students, graduates, and young professionals. This is why yields are so high. With average rent reaching £779pcm, too, this is fantastic news for investors. Demand will remain high in Bradford due to its fair and affordable pricing but will still generate those high yields, making the city a tremendous up-and-coming area to invest in.

Compared to Leeds’ average £209,000 property price, Bradford offers better value for money. It benefits from the same amenities and connectivity as Leeds, just with more affordable housing. Investors can find lower prices and less competition in Bradford. Securing the top properties in the area puts them in a good position. And, once regeneration projects are complete, investors are sure to expect strong capital growth over the next decade.

Bradford Regeneration

Many schemes aim to raise Bradford’s profile to a destination city. From Grade-A office spaces to enhanced greenery, Bradford regeneration will attract businesses to the city as well as improve the health and well-being of the population.

One City Park is one project making Bradford an up-and-coming area for businesses. The £35 million five-storey development will provide high-quality Grade-A office space to fill that need. Consequently, a ripple effect will be created for workers relocating to Bradford. Major businesses in Bradford will ultimately grow alongside the existing giants, Morrisons’ headquarters and the University of Bradford – the two biggest employers in the city.

£35 million
Grade-A office space
£15.5 million
Reshape of the city centre
£23 million
Independent market
3,800-capacity
Music venue

Such desirability for relocating to Bradford is cemented in projects surrounding new homes and places of work. The 25-year-vacant High Point office building is being repurposed into high-quality apartments. This is while the £15.5 million City Village is set to build on Bradford’s impressive infrastructure, creating high-quality public spaces, 1,000 new homes, and a thriving business hub. These investments will attract young professionals to the area. Relocating for quality organisations and quality accommodation in such a key, connected location.

Bradford Centre regeneration projects like Darley Street Market and Bradford Live will attract the attention of Bradford’s cultural values. The £23 million three-floor Darley Street Market is to increase small business activity and kickstart the night-time economy, while the conversion of the historic Odeon building into Bradford Live, a 3,800-capacity music venue, is one of the largest schemes in Bradford’s history and plans to bring the finest world-renowned entertainment to the city centre. All in all, each scheme plays a great part in the City of Culture 2025 plans.

Completed

Spectrum House

Bradford

Yields: 6.8%

Prices from £99,950

Learn more

The Up-and-Coming Area of

Bradford

There is a reason why Bradford is the ‘Best City in the UK for Investors’. Investors can find lower prices and less competition in Bradford. With plenty of regeneration projects underway, Bradford is only forecast to grow on top of its fast-growing population.

Coventry was 2021’s City of Culture and greatly benefitted from the title. £172 million was generated and the 700 ticketed events attracted over 1 million people to the city. From Bradford’s culture all the way through to its young population, affordable living, and excellent commuting location, the city will surely reap all the benefits in a few years. The existing high demand will only increase after the influx of young professionals migrating to the city for high-quality office space and equally high-quality yet affordable housing. With average yields of 7% and low property prices of £190,191, too, investors will only benefit from this up-and-coming area.

To invest in Bradford is to invest in its thriving culture and bright future. Investors should expect strong capital growth over the next decade once regeneration projects are complete.

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