Why Invest in Hull Property This Year?
Hull is on the up and it’s taking local property values with it. Here are some of the reasons to invest invest in Hull property before the crowds.
Hull offers some of the best rental yields in the UK
The average Hull property makes its owner an impressive 7.81% of its value per year in rent according to a 2015 study by HSBC (and we guarantee up to 18%). This puts Hull almost at the top of the list as the second most profitable buy-to-rent location in the UK behind only Manchester. What better reason could there be to invest in property than a dynamic market with high rental yields? Well, there’s also…
Good value properties
House prices in Hull average below £70,000, the lowest in HSBC’s top ten and a third the price of Manchester’s £100,000 average. We may not be talking palaces here but, when it comes to a first-time investor, or someone expanding their portfolio slightly, what can be better than a place that will pay off its own value in just a few years. That’s the situation with the average rental property in Hull, which is why investors are already turning their attention to the city in a big way.
It’s a fresh market with plenty of opportunity to invest
The rental markets in cities like London and Manchester are beginning to look impossible to buy into, with up to one third of the housing stock already privately rented. Hull on the other hand has a smaller proportion of rented properties than any other top ten high yield city. In other words, it’s a fresh new market ripe for the picking.
Welcome to the City of Culture 2017
As well as being a fantastic market prospect, the city is really beginning to make a name for itself. The city was billed in 2013 as “a city emerging from the shadows” and since then it really has come into the light to be nominated for UK City of Culture status. A city centre renovation, new culture projects and a lot of positive PR mean investors look set to rake it in during Hull’s cultural revolution.
The UK’s next renewable energy hub
Jobs are at the top of everyone’s list when it comes to where to live, and land values reflect this. Thanks to one of the biggest renewable energy projects in the UK and a groundbreaking new biofuel power plant, Hull can beat the best of them here as well. These demanding engineering projects need a quality labour force, which means new renting and sales potential in all levels of the market.
Property prices are set to boom
Thanks to the two upcoming events above, not to mention the city’s incredible rental market potential, property values in Hull are set to explode over the next few years. Soon, those shrewd enough to get in before the masses will be looking at serious increases in value on top of the amazing rent returns.
We’re Chris and Tony Hodgson, a father and son team that’s worked together for years. Our professional and friendly approach to doing business has helped us to grow our portfolio and deliver customer satisfaction across the city. Get in touch on 01482 342155 or email firstname.lastname@example.org to invest in Hull property today.
Image: Graeme Swallow on Flickr