Mark Manning: How Leeds United’s Premier League return will jump start city property market and bring 'very positive times'
Leeds United’s promotion back to the Premier League could help propel property prices in parts of Leeds as the impact of the triumph ripples across the city, according to a Leeds estate agent.
The Whites’ return to top-flight football has prompted an outpouring of city pride and fresh momentum is already being felt in the housing sector, experts say.
The impact of the promotion could be wide-ranging, according to Mark Manning, managing director of Leeds-based agency Manning Stainton.
The property expert’s insight comes as part of the Yorkshire Evening Post’s Promotion Effect series, a package of special reports dedicated to Leeds United's relationship with the city, supporters, residents and businesses as the club celebrates promotion back to the Premier League.
He said the success would boost local confidence and economic activity - and that this would, in turn, nudge house prices upwards in specific parts of the city.
“Initially, the area of the market that will really benefit is the top-end rental market across north Leeds suburbs like Alwoodley and Scarcroft, and also Linton and Wetherby, as new, wealthy players are signed to the club and look to move to places close to the club’s Thorp Arch training ground,” Mr Manning said.
“These players usually look to rent initially while they become fully established in the team and this will drive up demand and rents across this part of the city’s lettings market.”
And that’s only the beginning, he says.
If Leeds manage to hold their own in the top division, Mr Manning predicts a more permanent uplift in the market.
“From past experience, what we’ll then see if we are able to cement our place in the top flight, is that towards the end of season two in the Premier League, many of these players will start signing longer-term deals with the club and decide to settle with their families and buy here, which will help to lift demand and house prices considerably across the same areas.”
He said the club’s ownership and broader infrastructure plans will also bring fresh energy to the city’s economy and housing demand.
“The club’s wealthy owners will also bring new people and corporate infrastructure into the city, which will also have a positive impact on the city’s housing market.”
A key piece of that long-term vision is the redevelopment of Elland Road, plans for which have already been confirmed since promotion was secured.
“The Elland Road expansion plans, which have been confirmed since promotion was secured, will also have a positive impact on housing in the ground’s surrounding areas of Beeston and Holbeck,” said Mr Manning.
“As investment happens in these areas, which will include improvements to infrastructure and new businesses opening up, desirability and house prices will increase.
“We’re unlikely to see any major impact until the redevelopment is complete, so it could be a few years yet until we see the full effect, but I think that now would be a good time to consider buying in these areas.”
Beyond bricks and mortar, the feel-good factor is already spreading through the city.
“This promotion has helped lift sentiment across Leeds already, and this time it feels even better than it did in 2020 as everybody has been able to get together and celebrate, which has helped to create a fantastic feel-good factor across the city,” he said.
“As people continue to celebrate and support our top-tier club, it will help to boost the city’s economy as a whole and we’re definitely going to be marching on together into a very positive time ahead for Leeds.”
As fans across the region celebrate the club’s latest success, Mr Manning summed up the mood shared by many across LS11 and beyond.
“As a one-city club, Leeds United hold a special place in many local people’s hearts and to see them succeed in their Championship race and once again step up to the Premier League is fantastic.”