UK economy

  1. Landlord boom driving Bradford property prices

    Daragh Corcoran

    BBC Radio Leeds

    Rising property prices in Bradford are partly being driven by investors from the south east looking for more house for their money, according to some of the city's estate agents.

    John Watts

    Recent research from the Halifax Bank suggested Bradford was one of the places in the UK to see the highest growth in property prices in 2021.

    The mortgage lender said UK prices rose at a faster rate last year than in any calendar year since 2004.

    Property experts in Bradford told BBC Radio Leeds investors are finding the capital too expensive, and are choosing to buy in the north instead.

    Mohammed Usman, who owns Bradford Estates, says he opened a branch in the capital to cope with demand.

    He says there was a clear trend in 2021: "Most of our stock - anything below £150,000 - I would say 80% of it went to investors in the south east".

    John Watts (pictured above) who owns Robert Watts estate agents, says prices have risen by up to 12% in Bradford in the last year.

    Mr Watts added: "We've seen a lot of investors looking to buy in Bradford because it's more affordable, the yield is much higher.

    "It has squeezed out the first time buyer."

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