Bradford tipped as property prospect

Posted: 19 Apr 2007 10:55:56 GMT

Bradford is fast emerging as a good location for property investors, according to Meridian property management.

Bradford is fast emerging as a good location for property investors, according to Meridian property management.

Spokesman Salim Khan said the city was starting to benefit from a knock-on effect of the property boom in neighbouring Leeds, which meant investors in Bradford could expect the value of their investments to rise significantly.

According to Mr Khan, the rise in Leeds prices makes cheaper property in neighbouring Bradford increasingly attractive.

He added that prices in the city are far from their peak, saying: "I predict that there is far more room for property prices in Bradford to rise."

Mr Khan added that the ripple effect being enjoyed by Bradford, particularly in the areas of apartments and terraced houses, was even being felt in formerly unfashionable areas such as Canterbury and Ravenscliff.

He said: "In Canterbury six years ago we were buying at £15,000 to £20,000 for a three bedroom home.

"Now they are worth £90 to100,000."

Leeds has been successful because it was, along with Manchester and Bristol, among the first cities to establish urban development corporations to encourage city living, Warren Bright, chief executive of Propertyfinder.com, told Landlord expert earlier this month.

He said these cities were enjoying "serious regeneration" and "attracting home buyers who want to invest in a city lifestyle without the sky-high London prices".



© Houseladder Ltd