Leeds
One of Yorkshire’s largest cities, Leeds is set to benefit highly from the HS2, which will significantly improve transport links to the Midlands and beyond. Phase 2 of the infrastructure plan will see the rail line splitting from Birmingham to head north to Leeds, and northwest to Manchester or Wigan.
The existing inequality between London and the rest of these big cities will be significantly marginalised through better connectivity to the rest of the country. Right now, going from Leicester in the East Midlands to Leeds in West Yorkshire will require either a two-hour drive or a dual-legged train ride with a change in Sheffield. The HS2 will integrate with the Northern Powerhouse Rail and the new East Midlands’ Toton station, making the same trip between Leeds and Leicester only a nifty 45 minutes.
Leeds is already a huge contributor to the UK’s economy, second only to London. Its 120,000 businesses in the local area generate a total GVA in excess of £60 billion. The population in this city is currently around 795,000 and is expected to increase by five percent by 2029. Leeds’ multiple acclaimed universities will likely attract more students both locally and abroad when the HS2 is fully functional. The city seems set to become an even more attractive place to live, study, work, and commute to and from.
Additionally, over £500 million in investments have already been attracted to Leeds since the announcement of the HS2; Leeds City Region has predicted that this will create approximately 40,000 additional jobs. It will also support the development of Leeds’ South Bank area, which will double the size of the city centre. This regeneration will incorporate over 35,000 jobs, over 8,000 homes, and educational facilities for over 10,000 students, not to mention new public, retail, and commercial spaces as well.
According to recent research, both housing prices and rental growth in the city are expected to increase by 16 percent by 2023. Property prices in Leeds have already jumped by 35.6 percent in the ten years dating back from July 2019. As the exciting prospects of the city’s development grow with the HS2 plans, housing prices and rental rates can only be expected to increase even further.