Leeds property news: HS3 would boost rental sector

David Cameron
David Cameron
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Luke Gidney, from letting specialists let-leeds, says H23 would be good for Leeds.

Faster links between the two powerhouse cities of Leeds and Manchester are bound to stimulate development in and around the city centres and next to the stations that would be on HS3. It is a situation that would be a boost to the rental market and house building in and around Leeds. But it would also stimulate corporate investment in the area, prompting jobs and improvements to communities.

In Leeds, it has been mentioned that around 98 per cent of the city’s housing stock is occupied – and yet there are still many brownfield sites that remain unbuilt on. HS3 could be the catalyst for regenerating those sites; creating the extra demand for housing. There is no doubt that city-centre living has taken off in Leeds. Many young professionals and students now insist on living in apartments rather than in the housing on the fringes of the city that was the traditional destination of young renters. It is highly likely that HS3 could further boost the city’s apartment culture and yet it may also offer a timely stimulus to some of those areas that have suffered a lull in recent years. So whichever way you look at it - and whatever your wish list is regarding Leeds accommodation - it is hard to see many negatives when assessing what HS3 could mean for this area.

There is an argument that says increased demand for accommodation will see prices rise for both renting and buying.

But if HS3 is to bring investment, the increase in the housing stock that will result should prevent both soaring rents and house prices as scarcity will not be an issue.

It must also be remembered that such a fundamental change to the transport infrastructure will not only affect housing. We have mentioned the investment and employment opportunities that may result but – admittedly, further down the line – the bigger, better Leeds could be deemed a suitable place for all manner of other improvements. It could be viewed as a viable place for a city-centre tram system, newer, better roads or improved train services feeding into HS3. More people living, working or simply coming into the city as a result could prompt more night life, cultural, sporting or educational facilities.

The people in power are in favour and there appears little or no opposition to it at this stage.

If it does come to Leeds on schedule (and on budget) it will be one of the most important arrivals this city has ever seen.

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