1. Affordable Property Prices
The Bradford property market is relatively cheap, especially compared to the UK’s £285,009 average.
Bradford’s average property price is £171,626 – that’s over £100k cheaper.
Like most cities, detached properties are the most expensive, while flats are the most affordable.
Savills predicts that Yorkshire and The Humber properties will increase by 18.4% by 2026 – the joint highest in England!
If you’re looking for major capital growth on an investment property for sale, Bradford could be a hidden gem.
2. Strong Rental Yields
Bradford buy to let investors will see impressive rental yields of 5% from an average rent of £745 PCM (Houses For Sale & To Rent).
The rental market in Bradford offers yields 1.37% above the national average of the UK’s rental market.
Property investment in Bradford benefits from strong tenant demand from its young population (more on that later on!)
3. Massive Regeneration Plans
When asking ‘why invest in Bradford?’, it’s always best to look at what’s coming into the city over the next few years.
In May 2022, Bradford was announced as the UK City of Culture 2025, which will undoubtedly have a knock-on effect bringing a sea of investment and regeneration projects into the city.
In 2025, Bradford will deliver more than 1,000 new performances and events, including 365 artist commissions and a major arts festival as part of its year of culture.
Previous Cities of Culture Hull and Coventry saw their property prices rise by a combined average of 22.9% by the end of their year of culture.
Other investments in the regeneration hotspot include:
- Relocation of the city centre markets – £9.4m
- Grade A office spaces on the One City Park site – £25.3m
- Restoration of St George’s Hall – £8.9m
Property investment in Bradford will only increase over the next three years, so make sure you get in there early to see the most capital appreciation.
4. Booming Economy
The city’s £11bn economy is a key reason why Bradford is a good place to invest in property.
The West Yorkshire city is the tenth largest economy in England and the third largest economy in Yorkshire.
Bradford’s economy has grown by over 16% since 2014, and it’s not likely to slow down.
Being the next City of Culture means that Bradford’s economy will see over £700m of investment and create up to 3,000 jobs by 2025.
5. Hub for Businesses
Named as the best place to start a business, Bradford makes up 15% of employment in the Leeds city region employing over 250,000 people.
The West Yorkshire city is home to 16,000+ businesses, which create a combined annual turnover of £30bn.
Major employers in Bradford include:
- Hallmark Cards
- Yorkshire Building Society
The 570,00 sq. ft. of retail space Broadway offers is also a significant pull for investors, with over 9 million shoppers visiting its 70 stores annually.
6. UK’s Youngest Population
Bradford is England’s fifth largest met authority, with a young population of over 542,000.
With 29% of Bradford’s being under 20, a majority of the city’s local population falls under ‘generation rent’.
This means that Bradford buy to let investors see a high tenant demand as many locals cannot afford to buy a property.
7. Renowned Film and Food
The city has grown from a successful textile town into an important media and foodie city.
Bradford’s strong connections to the film industry include:
- The annual Bradford International Film Festival.
- Detailed exhibitions at the National Media Museum.
- The city was the first ever UNESCO City of Film.
After being named the UK’s Curry Capital six years in a row, the city was ranked as the best place in the UK for foodies.
8. Hotspot for Student Accommodation
With over 9,700 students in the city, Bradford is an area ripe for student property investment opportunities.
Property investors looking to purchase student accommodation and HMOs will see high tenant demand when they invest in Bradford.
For more information on student property investment, read our detailed guide.
9. Well-Linked City
Bradford has frequent bus routes driving into the city centre and the outer city region, in addition to reliable train services to Leeds, Manchester and London.
However, axed plans to build a Northern Powerhouse Rail line via Bradford means the city is less attractive for northern commuters compared to the likes of Birmingham and Crewe.
Meanwhile, Leeds Bradford International Airport offers links all across Europe.
10. Outstanding Schools
Bradford is home to over 220 schools, 30 of which have been rated ‘outstanding’ by Ofsted.
Standout schools in the city include Ashlands Primary School, Dixons City Academy and Iqra Academy.
With various sought-after educational opportunities for families, Bradford buy to let property investment is a very promising proposition.
11. Green Public Spaces
The Bradford City Centre Growth Zone Scheme has brought a wealth of green space to the city, such as the £24.5mil City Park.
Bradford is dedicated to making the city greener and aims to be a single use plastic-free city by 2024.
Additionally, the Bradford City Air Plan aims to maintain its CO2 emissions below their 2019 level.