Leeds is one of the most affordable places to live in the UK, says Luke Gidney, managing director of Let-Leeds.
He said: “It comes as no surprise to read, as I did recently, that Leeds is one of the UK’s most affordable cities when it comes to renting property. The research stated that Leeds is third-best in value, behind only Plymouth and Cardiff.
“Many of us in the property industry have known for some years that Leeds is a special case. Without wanting to criticise Plymouth, Cardiff or any of the other UK cities, we can say without fear of contradiction that Leeds is geared up to ensure affordability for tenants while also offering them so much more than most places. Transport links, culture, sport and entertainment are on people’s doorstep and yet they do not have to pay ridiculous rents to live here.
“There are a number of reasons for this. Leeds is a vibrant city that appeals to young people and the not so young who want to maximise the opportunities it offers. With major universities, it attracts thousands of new students each year; many of whom stay on after completing their studies. The result is a thriving rental property sector, with no shortage of tenants or quality housing stock. Many graduates find employment in Leeds, which keeps the local economy thriving and has, I believe, played its part in convincing some major companies to base themselves in Leeds. That combination of good employment prospects, a young professional population earning good rates of pay and large-scale investment in quality accommodation in the city has led to a market that is not distorted by either a shortage of decent rental property or a scarcity of tenants willing to pay a fair amount to live in Leeds.”