PROPERTY PRICES in Bradford could double in the next five years, says a Bradford estate agent who opened an office in London to cater for investors from the South.

Mohammed Usman, who owns Bradford Estate agents says he opened an office in London last year because of the 'significant increase' of engagement with city investors over the past two years, and based on previous sales patterns, property prices have the potential to double in the coming years.

He said: "Based on where the last increase started happening in the early 2000s, we're following a similar pattern.

For different reasons but the same pattern based on where the last increase happened and where the prices were in 2020, we could see a potential doubling of prices by 2025."

He added: "Almost 80 percent of our buy to let investors are coming from outside of Bradford, the majority being from the South and London and I think it's because they have seen they can get a lot more property for their money, even though the property prices increasing in Bradford, they still see that as good investment overall compared to the national average of house prices across the UK. They're still getting a good rental yield which makes it attractive."

Mohammed said one of his clients from London recently had 'just shy of' £100,000 to invest, and if he had brought something in the South he would've got 'maybe a flat', and all of his money would have gone into the deposit for that, but instead, he has gone for two properties in Bradford and he has got money left over for a third - and they're not flats, they're houses."

He said investors are also finding Bradford appealing because 'you can get a lot for your money but it's commutable to two major cities - Leeds and Manchester,' it is a multicultural city with a growing young population, its a very competitive place for business rates.

He added that the effect it is having is that city buyers are 'moving in quicker and faster than local investors 'but it is providing good quality accommodation' because many of them move in and renovate the properties.

He said that 'at the moment the market is still affordable for first-time buyers compared to prices across the country, but he's not sure how long that will last for."