Leeds’ BTR market set to double in size
Research from JLL shows more than £100m was invested in the city’s build-to-rent market in the first half of 2025, with 7,000 homes either operational or in the pipeline.
Of these homes, 61% are currently in development or have planning approval, with the firm’s figures indicating the number of operational units on the market will more than double in size.
The figures come from the real estate company’s Big Six Residential Development Report, which covers Birmingham, Manchester, Leeds, Bristol, Edinburgh and Glasgow, and found that more than £850m was invested in the sector across these regions in H1.
This is a 65% increase on the five-year H1 average.
Notable schemes currently under construction include Latimer’s 1,600-home Dyecoats scheme on Kirkstall Road, which recently submitted plans for phase one of construction consisting of 217 apartments between two buildings.
Also on Kirkstall Road is Glenbrook and Barings’ 618-home joint venture, and Forshaw Group’s 500-home Foundry Square scheme.
This is expected to underpin an estimated 17.6% rental growth between 2025 and 2029, although ongoing challenges including planning bottlenecks threaten to dampen this growth, according to JLL.
The firm estimates that 31% fewer homes will be under construction across the Big Six compared to last year.
Tom McWilliams, head of Yorkshire and the North East at JLL, said: “Leeds has experienced a boom in residential investment over the past five years, and despite uncertain macro-economic conditions, rents and values are continuing to prove resilient.
“The city has the potential to accommodate further investment and development.
“However, if we want to capitalise on this potential, then it’s important that steps are taken to alleviate the burdens on developers that are impacting construction viability.
“The government has made its ambition to deliver 1.5m homes by the end of this parliament a key pillar of its policy platform – and with the private sector standing by to deliver on this goal, further support for development will be key in making it happen.”
