Good jobs, low living costs and high yields: this city is one to beat
Leeds has been hailed as the best city in the UK to be a graduate, and it’s awash with opportunities for property investors and buy-to-let landlords too.
With reasonable rents and house prices, excellent job opportunities and starting salaries, and high levels of disposable income, Leeds has been named the best place to be a graduate for the second year running by TheHouseShop.com.
The study considered a range of factors, which also included the cost of a pint of beer and average utility bills, to bring the northern city out on top, and its prospects for future growth make it a favourite among investors, too.
While getting onto the property ladder is just a pipe dream for many newly graduated youngsters across the country, the average cost of a two-bedroom house for first-time buyers in Leeds is just £155,703, which is also an encouragingly low price point for landlords wanting to find a good investment opportunity where their money will go further.
Leeds is thriving and set to grow
Rents in the city will generate an average annual income for landlords of around £9,000 on a two-bed property, meaning a 5.78% yield is an attainable average, and with graduate starting salaries of an average £26,062, occupants can expect to be left with a monthly disposable income of £1,054 after accommodation costs and bills.
Nick Marr, co-founder of TheHouseShop.com, said: “It is not surprising to see Leeds dominate the table for the second year running. Especially since the property market in Leeds is set to boom over the next five years, now is the perfect time to invest in this cultural, exciting and thriving city.”
Royal Mail also recently named Leeds the 7th best city to live in in the UK, due to its strong economy, future growth forecasts and job opportunities, as well as the high level of work-life balance that can be achieved by those working there.
When comparing the statistics to London, the contrast is obvious – in the capital, while average starting salaries for graduates come in at a respectable £34,938, the amount left over after accommodation and other essential living costs comes in at just £413.60 a month. As a result, many cash-strapped youngsters have already begun to relocate to more affordable places like Leeds in search of better opportunities.
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