Landbay

Leeds rental growth outperforms UK average




Annual rental growth in Leeds stands at 2.54%, according to Landbay’s national rent review.

The Yorkshire city was above Birmingham and Manchester who recorded growth of 2.05% and 1.91% respectively.

Overall UK rents rose by 0.97% in the last year, with London recording growth of 0.58%.

“The truth is there is now a twin speed rental market as London’s rent growth is dwarfed by cities such as Leeds and Manchester,” said John Goodall, CEO and co-founder of Landbay.

“This is being fuelled by the capital’s millennial exodus as countless young professionals realise there is more to life than London.

“This same message carries weight with landlords, who are increasingly seeing the value of investing in these regional hubs.

“In many ways it could be argued that the ‘Northern Powerhouse’ is beginning to take effect amid stretched affordability and a harsher tax regime.”

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