Estate agents in the Leeds suburb of Headingley feel the rising transport costs and the increased number of student accommodation available closer to Leeds City centre is prompting students to leave the area which has for some time been called “Student land”.
Houses up for sale in Headingley are being snapped up by families acquiring insurance for let properties who want to take advantage of the shops, schools and restaurants that are on their doorstep. The student exodus has been revealed by estate agents in Headingley who took part in research on the property market in Leeds. The research focused on how property is selling; where the cheapest and most expensive properties are; and what buyers want when it comes to a property.
Michael Moore, executive partner at estate agents in Headingley, said “Five years ago over 70% of property sold by our firm in Headingley was bought by landlords who would protect their investment with landlord insurance whereas now, that figure stands at less than 10%. A lot of students are moving back towards Hyde Park because they are closer to lectures and closer to the city centre. Transport costs are high, which will have had an impact, and there is also more purpose-built accommodation.”
This means that Headingley is fast becoming much more desirable for families and there are also a lot of buyers who used to live there but moved out because of the problems of too many students. The residents say they are not anti-student and it is not a case getting rid of people, the problem is, they have not had a balanced community for many years. They want a nice mixed population and that’s exactly what they are starting to see now that the students are moving nearer to the city centre.