Buy-to-Let Property Investment Hotspots in Bradford

With an economy worth £11bn and an affordable property industry, buy-to-let property investment hotspots in Bradford are easily found and give landlords and property investors ample opportunity. 

Bradford is quickly becoming a sought-after location and the city offers a compelling blend of affordable property prices, promising rental yields, and a growing demand for rental accommodations. 

About Bradford

In 1851, Bradford became the capital of wool production in the world with engineering and manufacturing following suit as a result. Another result of the wool industry was the rise of the financial sector in Bradford, contributing towards its thriving economy. 

It was around this time, too, that Bradford changed from a rural village to a town, with the expansion of its town centre. In 1897 Bradford was granted city status and became a metropolitan district council in 1974. The city has continued to grow from strength to strength ever since. 

Regeneration projects in Bradford

There are a number of regeneration projects being implemented in the city, which will automatically add to the value of investing in a buy-to-let property in Bradford. 

One City Park

Since its inception, the project has created over 700 jobs and has secured £7.5 million in funding. It is safe to say that the One City Park regeneration project offers a sustainable and spacious, hybrid-working working environment. It is the breath of fresh air that Bradford has needed. 

City of Culture 2025

Bradford has been appointed as the City of Culture for 2025 and as such, there will be 1,000 new performances, a few major art festivals, and 365 artist commissions in the city. This new endeavour will create thousands of new jobs in the city and will bring more money, too. 

Bradford Live

Bradford’s Odeon Theatre is being restored to its 1930s original feel, creating a 3,800-capacity music venue, along with four new bars and conference rooms for businesses. 

Darley Street Market 

Besides the cultural treasures being added to the city, Bradford will also be host to a three-storey market. Darley Street Market is meant to bring culture and trade to life, offering the very best of Bradford to everyone. The initiative is there to help local trade and to help revitalise the city centre. 

Benefits of buy-to-let property investment hotspots in Bradford

Let’s discover why you should be looking for buy-to-let property investment hotspots in Bradford. 

Cheap property prices

Affordable property prices make Bradford a popular area for property investors. The average price for property in the city sits at £167,000 in February 2024, according to the Office for National Statistics. The year prior, the average price of property was £174,000. 

Also, the average price of detached properties decreased by 2.4% and the average cost of flats decreased by 5.7% in  February of this year. 

Rental yield

Due to the low property prices, you can automatically expect higher rental yields in Bradford. The average price of rent here currently sits at £660, which increased by 7.7%. 

According to Zoopla, Bradford offers an average gross rental yield of 7.02% on a property worth £118,267, with the monthly rent being £692 pcm. This rental yield is considered above average and proves that investing in the city is a worthwhile decision to make. 

Bradford’s economy is thriving

Bradford has an economy worth £11bn which is reason enough to invest in the city. The economy has grown by 16% over the past decade and will see an extra £700m of investment, creating up to 3,000 jobs by 2025. 

Also, Bradford is named the best place to start a business and is home to over 16,000 businesses. All of these businesses create a combined turnover of £30bn annually. 

Student accommodation

Over 9,700 students call Bradford home, which means that there will never be low demand for student accommodation here. The University of Bradford offers many student accommodation opportunities. 

Education

As well as the university, Bradford houses over 200 schools, of which 30 have been rated ‘Outstanding’ by OFSTED. This will make the city attractive to young families looking for good schools for their children. 

Some examples of ‘Outstanding’ schools include Hazelbeck Special School, Beckfoot School and Dixons Kings Academy. 

Buy-to-let Property Investment Hotspots in Bradford

If you’re considering dipping your toes into the Bradford property market, here are some key areas that stand out as investment hotspots.

City Centre

The heart of Bradford, the City Centre, attracts a diverse population, from young professionals to students. With significant regeneration projects transforming the cityscape and improving infrastructure, properties here are in high demand. 

The area holds excellent transport links, including the Bradford Interchange and Forster Square railway stations, making it convenient for commuters. Investing in city centre apartments can offer high rental yields, especially with the influx of professionals and students seeking modern living spaces close to amenities and nightlife.

The average property price here is £60,400 and offers a rental yield of 8%. 

Shipley

Just a short drive from the city centre, Shipley offers a more suburban appeal with excellent investment opportunities, particularly in family homes. It’s well-connected by rail to both Leeds and Bradford, making it ideal for commuters. 

The local amenities, good schools, and nearby Saltaire village, a UNESCO World Heritage site, add to its attractiveness for tenants. Shipley’s rental market is robust, with a steady demand from families and professionals alike, promising stable returns for landlords.

The average house price in this area ranges between £55,000 – £250,000 and offers a rental yield of 4%. 

Allerton 

Allerton offers a more rural feel with the benefits of city proximity, appealing to families and those looking for quieter surroundings. 

With more competitive property prices compared to central areas, Thornton and Allerton provide opportunities for larger properties with higher potential rental incomes. The local schools and community facilities are added bonuses that attract long-term renters.

You’ll be able to find mid-priced residential suburbs here and can expect an average rental yield of 4% with average property prices ranging between  £110,00 – £170,000.

Making the most of your investment

When investing in Bradford, consider the demographic you aim to rent to and choose properties that meet the needs of these potential tenants. Keep an eye on future development plans and infrastructure improvements, as these can significantly impact property values and rental demand.

Bradford’s growth and development indicate its potential as a lucrative buy-to-let market. By focusing on these key areas, you can capitalise on the opportunities this city has to offer. Whether you’re drawn to the urban buzz of the city centre or the quieter, more scenic settings of Shipley, Bradford provides diverse options to suit various investment strategies.

You may also be on the lookout for the best buy-to-let insurance quotes for your property investment. Make sure to reach out to our skilled team at CIA Landlords on 01788 818 670 for the best buy-to-let insurance quotes.