ESTATE agents across Leeds are excited by news that interest in city-centre living has picked up, after a five year lull.
The number of people buying apartments in Leeds city centre has increased to its highest level since the start of the downturn five years ago, according to leading city living agent Morgans.
The firm, which manages the biggest rentals portfolio of apartments in the city, said it had recorded more sales in August than in any other month since September 2007, with both owner-occupiers and investors returning to the market to purchase apartments ranging in price from between £100,000 and £250,000.
The news will give a further boost to investors in the city and with up-coming developments like the Trinity Shopping Centre, Leeds Stadium and the trolleybus scheme, it can only strengthen the city’s position within the UK economy at a time when most sectors are in decline.
It seems Leeds is a highly sought-after place both to live and work and that despite the recession, people have confidence to invest in it.
Jonathan Morgan, managing director of Morgans, explained: “It’s really incredibly encouraging to see sales demand returning to healthy levels. Buyers have tended to be young professionals and investors wanting to grow their portfolios and take advantage of the strong rental demand.
“As usual it is the apartments located in the higher quality schemes in the tried and tested locations that have appealed to buyers and the average sale price in August was around £160,000.
“Our sales figures provide an accurate representation of market activity in Leeds due to our market share and it looks like September is likely to be just as busy as August. Leeds is a highly sought after place to live, which is evident from the 98 per cent occupancy rates we have enjoyed on our rentals portfolio of apartments over the last two years, and although the rentals sector continues to outperform the sales market, it’s great to see confidence levels rising and property sales gaining pace.
“There is massive investment coming to Leeds over the next few years with Trinity Quarter, The Arena, The Trolleybus and super-fast broadband, to name just a few developments, and this gives confidence not only to investors, but also to those choosing to make their principal home in the city centre’.”
Morgans pioneered city living in Leeds when it opened its doors in 1997 and now employs a team of 30 employees at offices in Dock Street and Headingley that specialise in sales, rentals and property management services.
For further information contact Morgans on 0113 398 0099, or visit the company’s website at www.cityliving.co.uk.