Channel 4 Decision to have Positive Impact on Local Property Market

The decision by Channel 4 to make Leeds the home of its new national headquarters is great news for the local property market.

That's the view of Ben Furnell, Managing Director of Furnell Residential Easte Agents & Property Consultants who said: "The initial forecast that over 1200 jobs could eventually be created once Channel 4 arrive in the city is not only good news for the local and regional economy, but excellent news for the housing market .

"The majority of people will be relocating from outside the area and will need somewhere to live. This is definitely going to put a premium on property close to the proposed location and this will then create a ripple effect  to areas with good transport links. With many of the staff likely to be at the younger end of the age range we are also anticipating an increase in the number of first time buyers coming into the market.

"The key question of course is whether supply will actually meet demand and what effect that will have on prices. A good benchmark is Salford in Greater Manchester which saw house prices increase significantly thanks to the MediaCity UK complex."

Leeds was chosen by Channel 4 after beating rival bids from both Greater Manchester and Birmingham. Each of the candidates were required to have a population of more than 200,000, a travel-time to London of less than three hours and a high quality physical and digital infrastructure.