In consecutive months during the summer of 2015, Leeds’ local economy was boosted by property investment. Heeton Holdings, a Singapore fund, made its first UK investment outside of London in the Yorkshire city.
In August, Insurance Group Legal & General, invested £162m in project to build a neighbourhood on the edge of the city.
The Guardian reported this week that house values in the capital are set to fall by 3.6% following “years of over-performance”. The Centre of Economics and Business Research (CEBR), who produced the research, also said that house prices across the country will generally rise by 1.5%. It is the first time in six years that prices countrywide have risen faster than London.
As expected, the London market is being hit by the upcoming election with factors such as Labour’s proposed ‘Mansion Tax’ putting buyers off investing until after the outcome.