Dearth of new city apart­ments

Yorkshire Post - Property - - PROPERTY -

Rentals de­mand in Leeds city cen­tre con­tin­ues to grow and looks set to out­strip sup­ply, ac­cord­ing to Mor­gans.

Jonathan Mor­gan, head of the es­tate and let­tings spe­cial­ist, says: “Be­tween 2004 and 2009, around 1,000 new apart­ments were be­ing com­pleted each year but the re­cent re­port City Liv­ing Be­yond the Boom high­lighted that only around 100 new apart­ments would be com­pleted each year in the five years from now.

“With sup­ply dwin­dling and de­mand hold­ing up, oc­cu­pancy lev­els are now over 97 per cent in the Mor­gans port­fo­lio which is by far the high­est fig­ure in 12 years.”

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