Investment Area of the Month - Pudsey
Are you a Landlord looking to invest in Pudsey?
Leeds has fast become a powerhouse of the North. Investment in the city is thriving, and with many areas of interest with investors, it’s a hard choice when thinking about where to invest. Although many places in Leeds are thriving with opportunities for investment, Pudsey’s range of local amenities, excellent transport links and community feel, is attracting a range of tenants to the area, creating a strong demand for rentals.
Why Invest in Pudsey?
Average House Price - £205,160The housing market in Pudsey is dominated by semi-detached properties with an average house price of £205,160. Since 2019, the average house price in Pudsey has risen by 4%, which is a significant increase in the property market. Pudsey sits on the border of Bradford and the location is slightly cheaper than some of the surrounding areas, such as Calverley and Farsley. Due to the affordable prices and a variety of great houses, Pudsey is becoming an increasingly popular destination for tenants.
Transport
Transport in Pudsey is very good, ideal for commuters, with a train station, busses, taxis and all the necessary links on your doorstep, it’s no surprise that Pudsey has become a popular destination for many. The main train station is located in New Pudsey, which is only a 7-minute drive from the centre and runs both Eastbound and Westbound trains, as regularly as every 15 minutes. Alternatively, there are many bus routes that offer direct services to and from Leeds City Centre and the surrounding towns. There are great connections to the motorway networks, including the M621 and M62, attracting people from further afield.
Amenities
Pudsey has an extensive number of amenities, including a mix of high street chains, independent businesses, restaurants, bars and much more. In Pudsey alone there are superstores and local supermarkets to get the essentials from; but also, there are many local businesses on offer. Town street is home to banks, estate agents, boutiques and much more, so there’s no need to venture into the city for the necessities. The area is very popular with families and within Pudsey there are 8 primary schools and 4 secondary schools, so demand for family rental homes have increased and have become a very appealing opportunity for investors.
Rental Return
The current average rent in Pudsey for a 2-bedroom home is £726pcm (source Zoopla). Rental income varies based on the specific property size, position of the home and outdoor space.
What are Tenants Looking For?
Pudsey is attracting a variety of tenants, from young professionals to families. When considering tenants needs, it’s important to do your research on current trends in the market. Due to lockdown, there has been a significant increase in people wanting outdoor space, so properties with a garden have become priority and a tactical investment. Also, recently renovated is very beneficial as tenants are looking for modern fixtures and fittings.
