Aspen Woolf on 2018’s top ten property hotspots in the UK

Leeds City Skyline view

We’ve had a look at the best UK hotspots for property investment across the UK. Our top ten shows where it’s best to invest money for guaranteed demand and the highest capital growth.

The market has become used to inflated prices in the south east and London and savvy investors are looking away from the traditional investment regions towards the north. Infrastructure improvements courtesy of the Northern Powerhouse are starting to show results. Recent reports from KPMG show that the North West, North East and Yorkshire will all see some of the highest average house price growth over the next ten years. Check out our top ten.

  1. Bradford

Just five miles from Leeds, Bradford is often in its shadow, but it’s an affordable area going through its own period of regeneration. It’s more of a large town than a true city and is full of typical northern-street terraced houses and Victorian homes with bay windows. You can buy a one-bed flat for just £40,000, while a stone-built terrace will cost about £70,000. Landlords can expect yields of 8% on two-bed homes in the affordable postcodes BD7 and 8.

  1. Manchester

Manchester is the fastest-growing city outside of London and is home some impressive regeneration projects. These are led by the Salford Quays media complex and the digitally-orientated Northern Quarter. There’s no doubt that 2018 is a good time to invest in property in Manchester, with high ROIs in areas such as Chorlton, Salford and Fallowfield. Prices are rising fast and yields are around twice those in London. About half of the housing stock is private rents, and the massive student population underpins demand for flats.

  1. Liverpool

Another northern city benefiting from inward investment and large-scale job creation, Liverpool is also on the up. Flagship projects include the Liverpool Waters scheme, which has cost around £5 billion. This will transform a massive brownfield site into five new neighbourhoods. Property investment in Liverpool centres around a young, keen workforce looking for long term rentals. Average house prices are on the lower end but are increasing.

  1. Leeds

Leeds is a shining star of the Northern Powerhouse, having come to the end of a long process of gentrification. It’s now a stylish, ultra-modern city with an impressive amount of housing. As it shares an airport with Bradford and will benefit from HS2, it has garnered the attention of overseas investors buying up new builds. However, there are good capital growth opportunities, with areas LS1 and LS11 working well for city workers, and the further out LS6 and LS8 achieving high yields.

  1. Birmingham

The second biggest city in the UK is the heart of the country and home to 4.5 million. There is a real shortage of rental accommodation, which is pushing property prices up. Demand is particularly strong in areas like Edgbaston and Halesowen, and any cash buyers could do well out of non-traditional properties in areas like Kings Norton.

  1. Sheffield

Demand is outweighing supply at the moment in this South Yorkshire city. It’s likely that Sheffield, along with Bradford, will benefit from prices increases in Leeds as first-time buyers become priced out of the market. The S1/S2 postcodes offer some of the highest rental yields in the country.  Prices have tripled since 2001, but it’s perfect for investors looking to add to their portfolio with on-street terraces for £50,000 or three-bed ex council houses for £75,000.

  1. Hull

Hull has one of the highest proportions of young people in the UK, thanks to the investment in digital tech and windpower the city has enjoyed since it was 2017’s City of Culture. Student lettings return high yields and it’s likely that price growth and steady demand for rentals will continue to make Hull popular for buy-to-let investors.

  1. Newcastle-upon-Tyne

Analysis last year suggested that Newcastle and the North East (including Gateshead, Sunderland, North and South Shields) will house England’s most affordable properties over the coming decades. While capital growth isn’t an incentive here right now, it could be a wise long-term portfolio investment.

  1. Nottingham

Nottingham is often overlooked but has the UK’s seventh biggest economy and is likely to benefit from the proposed HS2 station. Extensions to the tram network have seen prices increase in suburbs like Wilford, Beeston and Clifton.

  1. Leicester

Leicester’s economy is bigger than Nottingham’s and is home to many household brand name companies. This means inward migration of young professionals, and house prices rose throughout 2017. Semi-detached and terraced houses are particularly in demand, with the best areas to invest in buy-to-let include LE3, where you could get a terrace with yields over 5%.

Ten things you never knew about Bradford

bradford city centre

Bradford is a resilient community and a city that has been through the mill, in more ways than one. Now enjoying a cultural renaissance, it’s a true Pennine city with lots in common with the nearby towns of Huddersfield and Halifax in particular.

It’s also one of the biggest cities in England by population size, coming in fifth after Sheffield, Leeds, Birmingham and London. Many first-time visitors are surprised by the sheer number of attractions and a newly emerging leisure scene. Here are ten facts about Bradford that you might also find surprising.

Bradford is:

  1. Officially Britain’s ‘curry capital’

Bradford has been named Curry Capital of Britain for five years running, annually soaking up praise for its fine curry restaurants.

  1. Home to the biggest water fountain in the country

Bradford City Park was conceived as part of the 2003 masterplan to regenerate the city centre. A large public space right in the centre of the city, the park is very near the Grade 1 listed Bradford City Hall, and its main feature is a mirror pool containing the highest fountain in any British city.

  1. Home to the largest former industrial building in the world

Salts Mills was designed by Lockwood and Mawson for Sir Titus Salt in 1853. Today it’s a shopping centre, art gallery and restaurant complex and houses many paintings by local artist David Hockney.

The former textile mill was the largest industrial building in the world when it was built and didn’t close its doors as a manufacturer until 1986. Entrepreneur Jonathan Silver bought it a year later and turned it into a retail, cultural and business centre.

  1. Experiencing a large population boom

Excluding London, figures show that Bradford is currently undergoing the biggest population growth in the UK. The city also has the largest proportion of under-fives and under 19-year olds, and the largest average household size.

Between 2001 and 2011 when the last censuses were taken, the overall population grew by 11% to 470,800. The next census is due in 2021 and is expected to show a massive increase in general population.

  1. Home to the oldest concert hall still in use in the UK

St George’s Hall opened on 29 August 1853 and it’s still going. Not only is it the oldest in the UK, but also the third oldest in the whole continent. Originally designed for a capacity of 3,500, it now seats 1,500 and was financed by German Jewish wool merchants who moved to Bradford for its textile industry. It was temporarily closed in 2016 for an £8.5 million restoration project and is due to reopen later this year.

  1. Also home to the Alhambra Palace theatre

Right in the centre of Bradford, the Alhambra is much loved within the theatre community. Built in 1913 at a cost of £20,000 as the project of a local impresario, Francis Laidler, it opened on 18 March 1914. Over the last century it has welcomed many big names, including Laurel and Hardy, Morcambe & Wise, Peter Sellers and Rik Mayall onto its stage and was awarded Grade II listed status in 1974.

It’s one of the finest theatres in England, and now hosts large-scale touring theatre companies of all kinds to an audience of up to 1,456.

  1. Known as the former ‘King of Wool’

The 19th century was a golden time for Bradford, when it rose to prominence as an international centre for quality textile manufacture and, in particular, wool. It was a classic boomtown of the Industrial Revolution years and quickly became the wool capital of the entire world.

As the wool and textile manufacturing grew, so did the population and investment in the city. You can still see it today in the architecture of Bradford City Hall. In more recent times, the textile manufacture has moved abroad but the city’s rich past can be seen in its landmarks, including Salts Mill and Manningham Mills.

  1. The ‘City of Film’

In 2009, Bradford roundly beat Cannes, Venice and LA to be named the world’s first UNESCO City of Film. Bradford was awarded the title for its long association with filmmaking, going back to the very start of cinema. Today, Bradford hosts a number of high-profile and internationally recognised film festivals and film related events.

  1. Bursting with entrepreneurial spirit

Bradford has a young and dynamic workforce, and a host of creative entrepreneurs looking to take advantage of the unique culture and global business links in the city. There is a high level of self-employment and business start-ups. The fact that it’s the youngest city in the UK, with almost a quarter of its population under 16 years old, suggests that this youthful spirit will continue to revitalise the city going forward.

  1. Home to major company headquarters

In Bradford and the surrounding district, a number of major companies have their headquarters, including Yorkshire Building Society, Morrisons, Provident Financial, Hallmark Cards, Arris (Pace) and Yorkshire Water. More than 40 large companies have their headquarters in the district and employ more than 370,000 with a combined turnover of around £30 billion.

Aspen Woolf looks at whether Bradford could become the Shoreditch of Yorkshire

Bradford is growing quick although prices are still quite low.

With so many north western cities and towns undergoing a revival, with government support and mass-redevelopment, could it be Bradford’s turn for the same?

There are undeniably high levels of unemployment in Bradford, and some have dubbed it the most struggling city in Britain. But there is a movement to turn all of this around and kickstart its revival as a creative, thriving city with much to offer.

Creating alternative Bradford

Today, Bradford is no longer home to mills and mansions, as it was in Victorian times. Around 30% of adults in the city are out of work, and 40% of the wards are among the poorest in the country. While it does have the UK’s youngest population, it also has high levels of child poverty. Bradford is actually larger than Newcastle and wants to shrug off its reputation as the country’s most struggling city.

The CEO of Bradford Council, Kersten England, is very much behind this as she aims to ‘make Bradford the Shoreditch of Yorkshire’. However, Bradford is not asking for subsidies from London, nor is it competing with the recent boom in places like Leeds and Liverpool, instead there is a movement to revive an ‘alternative Bradford’.

Sunbridgewells success

While it seems an uphill struggle in some ways, there is definite hope for the future. At the moment, around 90% of property in the very centre of the city is apparently vacant. But there are many signs of life and progress.

In among a warren of old storage tunnels and caves there’s an area called Sunbridgewells. A local developer has invested £2 million in gin bars, craft beer pubs, food outlets and music venues and it’s seen as ground zero of the ‘creative hub’ of the city.

As with Shoreditch in London, when it became a hipster paradise, it’s hoped that people will begin flocking to Sunbridgewells. Nearby is the Assembly warehouse, a creative space for freelance publishers and designers. Run by David Craig, who reckons the space costs a fifth of what it would in Leeds, the Assembly is home to a few creative companies that have a passion for regenerating the city.

Another voice behind the new Bradford is architect Amir Hussain, who wants to persuade third generation Asians to move to the centre of the city and help to revitalise it.

Past town planning

There are generations of poor town planning behind Bradford’s current state. In the 1980s, the Victorian buildings were destroyed, and during a misguided rescue attempt in 2003, post-modern architect created what he called ‘dispersed centre’.

The council then added a massive shopping mall called Broadway, which took business away from any other retail outlets in the city. Today, there is a strong determination to restore Bradford back to its best, but with a different slant.

They aim to make central Bradford a place where people want to live and work, rather than a place from which people try to escape. This will take a massive effort as the city faces cuts of 40% to its budget over the last decade. Bright spots include the City Park, which cost more than £20 million, the relaunch of the Art Deco Odeon cinema and the annual literary festival.

Following examples

However, arts festivals and music venues don’t tend to draw residents, which is what is needed. The people behind the regeneration of Bradford aim to bring life back to the city. It’s been done before all around the world. In NYC, Manhattan’s Greenwich Village came back from the dead, as did Shoreditch in London and Haight-Ashbury in San Francisco.

They did it by taking enterprise and activity from nearby cities and regions. By attracting designers, writers and artists into some of the derelict buildings, others will also arrive. Today, Bradford looks to attract the digital entrepreneurs that are spearheading regeneration across the north. It will be exciting to see it happen.

What are the benefits of buying new in the Northwest?

Liverpool waterfront

Whether you choose to invest in new builds or buy something more established, Leeds and the wider Northwest region offers a wide range of choice. From mansions just selling for just under £1 million to 1 beds going for around £35,000, it’s easy to see why this region is becoming more popular to property investors and first-time buyers alike.

The choice between a new build or established property is often down to personal circumstances and subjective tastes, but there are some reasons why new can be to your advantage.

Strict regulations

Over recent years, building regulations have become increasingly strict. New builds are built to a high spec with a ten-year guarantee. This gives an obvious advantage over an older property in terms of potential repairs and upkeep. With brand new fittings and features, a new-build property means there’s less need to make allowances for the potential cost of repairs and ongoing maintenance. Whether you’re looking to invest as a landlord or as a first-time buyer, this can make a huge difference in terms of what you can afford.

This is a good choice for investors looking to build up their buy-to-let property. By investing in new-builds in Leeds they are taking advantage of a city that is very much on the rise. The government’s Northern Powerhouse scheme has meant it’s front and centre in terms of investment and regeneration.

An increasingly popular choice for investors looking to boost their portfolio, cities such as Leeds, Liverpool and Manchester are offering more diverse options that in London and the South East. They’re also offering strong ROI and rising, rather than falling, property prices.

Energy efficiency

Even if an older property has been lovingly restored, it’s almost impossible for them to compete with the energy efficiency built in to new properties. Modern building methods have been developed to prevent damp, while double glazed window units, improved insulation and cavity walls provide energy savings on a long-term basis.

Heating systems are always improving and will significantly reduce monthly outgoings when compared with an older property. If you are investing in a buy-to-let property, then it’s your responsibility to ensure it’s safe and fit for purpose. From April this year, it has become illegal to rent out a house with an energy efficiency (EPC) rating of F and G – the lowest possible ratings.

Modern living

New builds are designed with modern living in mind. They tend to have smaller rooms, less floorspace by square foot and be of simpler design than more established properties. While this can come down to personal taste, for investors, new builds offer the best of both worlds.

Property developers look to minimise wasted space in new builds, ensuring they’re as efficient as possible. This has a knock-on effect on monthly outgoings as energy is saved and costs are as low as possible. And, as they’re designed for modern family life, there are always people ready to rent. Investing in judiciously placed new builds in the Northwest of England this year guarantees a steady ROI and hassle-free management.

Flexible options

While there can be a premium attached to buying a new-build property, so that they can cost more than a comparable older property, there are often more flexible buying options. First-time buyers may be able to take advantage of the government’s Help to Buy scheme, for example. As this only needs a 5% deposit, it opens the door to new home owners. Older properties often need a higher deposit and you’ll likely need more funds for alterations.

Buying off-plan also allows people to plan their move with more confidence. When buying an older property there is a huge amount of uncertainty concerning the seller and other people in a buying chain. This uncertainty can last right up to exchange and is the cause of a lot of stress. Buying a property off-plan removes all this uncertainty.

Buying property in Leeds, Liverpool, Manchester, Bradford or other cities in Northwest is fast becoming the option of choice for savvy investors. Both new-build and established properties offer advantages that just don’t exist in London and the South East currently.

Aspen Woolf looks at the most expensive versus the cheapest property in Leeds

For Sale Signs - Aspen Woolf

The North of England is having a resurgence in terms of regeneration, property development and a growing job market. There are more reasons than ever to invest in property in cities such as Leeds, Liverpool and Manchester, led by the Northern Powerhouse initiative.

Particularly since the vote to leave the European Union in June 2016, property investment across the UK has experienced a sea change. More and more investors are turning away from London and the South East as economic and political uncertainty shake a previously unwavering property market and setting their sights further up north.

Property hotspot

Leeds has become a prime property hotspot, thanks to a steady stream of city-centre regeneration and funding, along with a solid and thriving job market. Add in a bustling city centre packed with all the amenities young professionals look for, and a strong student population, it’s not surprising that investment in Leeds is constantly increasing.

At Aspen Woolf, we keep an eye on all the property investment news across cities including Leeds and have examined recent sales to get a picture of the kinds of prices people can expect.

Variety of property

The cheapest residential property that completed in March this year sold for just £36,500. At the other end of the scale, the buyers of the most expensive property sold in March paid more than 26 times this price.

This shows the sheer variety of options for people looking for property in Leeds. Whether investors are searching for the perfect buy-to-let property, or families are looking to move into a larger house, there is a scale of pricing available that isn’t seen in regions further south.Land Registry figures

The figures from HM Land Registry for March 2018 show that some property investors paid a lot of money for truly stunning properties situated in the city’s suburbs, while other people sought out and found bargains closer to the city centre.

The most expensive home sold in March was a detached house in the Boston Spa area of Leeds. It was sold for an impressive £975,000, providing a stark contrast with the cheapest flat sold for just £36,500.

UK-wide, across the same period, more than 90,000 homes were sold. The most expensive residential property on record sold for £15 million and is located in the London suburb of Barnet. The cheapest of all went for £20,000 in County Durham. This provides a good scale to measure Leeds prices by.

Detached properties

A closer look at what buyers in Leeds secured for their money can be seen by detailing some of the sales below. As mentioned, the most expensive property was located in Boston Spa. For £975,000 the buyer enjoyed a five-bedroom detached house in this leafy suburb of Leeds. Next on the list was another five-bed detached property in Foxhill Drive, Leeds, which sold for £747,000.

Another five-bed detached family home, this time in the Adel area of Leeds, sold for £650,000 and a four-bed detached home in Boston Spa went for £521,555. A lovely four-bed home in the outlying Leeds village of Shadwell sold for £515,000 and another Adel four-bed detached went for £499,995.

Bargain buys

Turning towards the cheaper end of the market, the biggest bargain was the flat sold for £36,500 in the Hunslet area of Leeds. Another flat in Lower Wortley sold for £37,250 and a terraced two-bed home for £40,000 in Lascelles Place.

No matter what kind of property buyers are looking for, Leeds is a good place to look. From apartments close to the always improving city centre amenities, to large detached homes in green suburbs, the variety available is comparable to that in the South East, but for much more affordable prices.

Aspen Woolf On Why Property Investment In The North-West Has Doubled

Manchester town hall

There has been a huge rise in commercial property investment in the north-west of England. Investors have increasingly come to realise the value of some of the key areas in the north, including Liverpool.

Thanks to this awareness and understanding, along with the benefits from the Northern Powerhouse initiative, investors have increased their interest to a record high.

Figures Increased

During Q1 2018, the volumes of investment in cities like Liverpool has leapt to £965 million according to figures released by UK Investment Transactions. This is more than twice the amount achieved in Q1 2017, which peaked at £440 million.

This is a phenomenal start to the year in terms of property investment and is thanks largely to two main deals. The first came when L&G bought Liverpool’s India Buildings for £125 million, and the second with Aviva’s acquisition of 2 New Bailey in the Salford area of Manchester. The latter deal was worth £113 million, and both Liverpool and Manchester have contributed to this huge boost in investment.

Office Space

The top investment in the north-west region’s commercial property sector was office space. This accounted for 41% of all transactions in the first quarter of 2018. The retail sector continues to fall slightly behind, which is something mirrored across the whole of the UK as customer attention continues to shift online.

While retail is likely to continue to be more subdued, there seems no stopping the rest of the commercial sector in Liverpool and Manchester, as well as surrounding areas.

Build-to-rent Investment

We’ve also seen a significant increase in build-to-rent investment deals in the north-west. This was again boosted by a major deal in Liverpool. This was to create 383 build-to-rent unites and the development has been financed by forward-funding by Invesco and Manchester arena.

Both Liverpool and Manchester have enjoyed major advances in their build-to-rent market over the last year or so, and industry experts expect this to continue as an investment trend.

Comparatively strong

Overall, the north-west continues to perform strongly and this is shown clearly when figures are compared with the rest of the country’s data. A broad rage of investors, from the UK and overseas, are continuing to show real interest in investing in the region.

As we head towards Brexit and the uncertainty it brings, more investors are turning away from London and looking around at other viable investment hotspots in the UK. Liverpool and Manchester are continually surprising the market with excellent figures and its’ likely that this strong start to the year will continue throughout the rest of 2018.

Investment Property Price Growth For Leeds

Leeds City Skyline view

Property investment in Leeds is increasing, and a new report by property consultancy experts JLL reveals that it’s not going to slow down any time soon.

Average investment property prices in Leeds city centre will increase by 3.5% over the course of 2018, according to the New Housing Paradigm report. The outlook for the next five years is even more positive with expectations of strong price growth at an average of 3.7% per annum.

Proving its legitimacy as part of the Northern Powerhouse and a viable alternative for property investors now looking outside of London, the level of growth expected in Leeds is second only to that projected for Manchester.

Average Rents To Rise

Rents for apartments in Leeds city centre remained flat during 2017, but it’s predicted that they will increase by 3.5% by the end of this year. Again, over the next five years, it’s expected that they will increase by 3.5% every year.

Leeds is the standout market for investors to keep their eye on over the next few years, and housing markets across Northern England are going to be among the strongest too.

London Market Stagnating

This rise of the Northern Powerhouse comes at a time when London is losing its grip as the number one choice for property investors. Its housing market is starting to stagnate, while market growth in the south of the country has been slowly starting to stabilise thanks to high property prices deterring potential investors.

London is still a key market of course, but there is no doubt that the rising interest in property investment across the north is signalling the start of a new phase for the UK’s property market.

Infrastructure Investment

Anyone who has been keeping an eye on developments across Northern England will have seen extensive redevelopment and investment in key infrastructure. Excellent and improving travel links, a relatively buoyant job market and much more affordable housing than in the south of England, have all combined to turn people’s attention to the north.

There is also a marked rising demand in Leeds specifically for the ‘build-to-rent’ market. This is fuelled by the influx of young professionals eager to enjoy the benefits of living and working in a major city, as well as a stream of affluent students willing to pay for a high level of accommodation.

Build-To-Rent Market

There are currently 3,500 build-to-rent units in addition to the 2,000 private sale units sitting in the development pipeline, all due for completion relatively soon.

Historically, this rental demand has been under-served, and this new influx of build-to-rent units will satisfy the need. Manchester has seen this particular asset class perform extremely well, and it’s likely that Leeds will follow suit.

Over the next few years, we expect to see landlords and developers working to optimise this market model.

Why Liverpool Is A Key Area For First Time Buyers

Ariel View of Liverpool City in the UK

The north has come into its own in recent years thanks to the Northern Powerhouse initiative, extensive investment in key city infrastructure and developments transforming the landscape. All of this, along with the Brexit effect on the south east causing prices to plummet in former property hotspots, mean that northern cities are where it’s at both for investors and first-time buyers.

With all this in mind, it’s perhaps not surprising that recent research from Zoopla has found Liverpool to be one of the most affordable cities in the UK for first-time buyers.

First-time Buyers Index

Liverpool ranked third behind Middlesbrough and Hull as the most affordable when compared with 50 other major cities. Buyers in Liverpool can expect to an average price of £122,137 for a property. Middlesbrough came in second with an average price of £107,041 and Hull first at £104,376.

To compile the index, Zoopla analysed several different data points and compared the 50 largest cities in the UK. The data points include the deposit amount required, Stamp Duty tax relief available and property prices. By combining these and converting to a score out of ten, the index was created.

Liverpool Data

The average first-time buyer in Liverpool needs a deposit of £18,320. This is based on 15% of the property’s value at £122,137. As a comparison, Manchester first-time buyers need an average deposit of £25,314 on property costing £168,761.

However, Manchester is still very much affordable when compared with the south of the country. London is unsurprisingly at the bottom of the index and shows that a first0time buyer would need to get a deposit together of £77,727 and expect to pay about£518,178 for a property.

Unaffordable Areas

As well as London, areas like Cambridge are out of reach to most first-time buyers. An average deposit in Cambridge equates to £65,716 for a property cost of £438,109. Brighton, Colchester and Reading are the other cities in the bottom five of the index.

Northern Cities More Viable

Recent research shows that northern cities have the most viable options for first0time buyers in this country. Liverpool is particularly popular with first-time buyers as it offers a modern city with plenty of redevelopment, investment and restructuring, as well as a buoyant job market and affordable property.

It’s difficult for people in the south to get on the property ladder at all, and we expect to see northern cities continue to rise in the rankings.

What Makes Sheffield A Property Investment Hotspot?

student buy to let investment

Along with some other northern cities, such as Liverpool and Leeds, Sheffield has become one of the most exciting investment hotspots in the UK’s property sector. Whether you’re looking to invest in residential buy-to-let, commercial property or student housing, there are lots of opportunities in Sheffield.

Historic Industrial Powerhouse

What Makes Sheffield A Property Investment Hotspot? Aspen Woolf

Sheffield is the city of steel, with its roots in the industrial revolution and specialised production. Now considered one of the northern economic powerhouses, it’s a thriving hub with a population of 560,000 people. The metropolitan district of Sheffield is much larger, with more than 1.5 million people living in the surrounds of the city.

Thriving Young Population

While you may not be looking to invest in student housing, the fact that Sheffield is home to two of the country’s largest universities (Sheffield University and Sheffield Hallam University) is part of its draw. There is constant demand for student accommodation, but also a constant stream of young graduates making their way in the city.

This leads to a huge demand for private residential rental property, both in the city centre and in the suburbs.

Transport Links In Sheffield

There is far more to the property investment opportunities than students and graduates, however. The borough of Sheffield is the third largest in the England, and as it’s relatively centrally located in the country it’s naturally ideal in terms of travel and accessibility.

The city has four airports within less than half an hour’s drive, helping to make it an easy transport hub for overseas as well. Lying adjacent to the M1, Sheffield is also directly linked to many cities and towns all over the UK. Added to all this, there are also speedy direct train links to London, and the possibility of a high-speed rail service if plans are approved.

Buy-to-let Property In Sheffield

Regeneration and a buoyant job market combine to make Sheffield a very popular place for people to live, work and study. The corresponding demand for homes, rental property, retail space and commercial units is increasing faster than it can be provided.

All of which leaves a very attractive area for investment, particularly with buy-to-let property. We can attribute the resilience of the private rental market in Sheffield to the limited number of high-quality housing schemes that are available in central locations, particularly when compared to other cities.

Robust Economy In Sheffield

Sheffield’s fast-growing economy is now worth £7bn a year. Its GVA (Gross Value Added) performance has increased by almost £4 billion since 1997, and the economy is continuing to grow by an average of 5% every year.

Investment in the city is helping Sheffield to remain of England’s leading areas for manufacture and engineering. In recent years, there has also been a significant growth in the service industries, as well as financial services, digital and new media, environmental technology and energy. An international reputation as a centre for excellence and cutting-edge delivery is being enhanced all the time.

Home to one of Europe’s largest leisure and retail complexes, Meadowhall, brings 400,000 visitors every week. And, on top of all this, Sheffield is one of the ‘greenest’ cities in the UK, with more than two million trees, 83 parks and 150 woodland areas.

Aspen Woolf’s New City-Centre Development – Kelham Works

At Aspen Woolf, we are fully involved in boosting Sheffield as a prime investment spot for property. Our brand-new development is located in one of the city’s most impressive areas, Kelham Island.

Aiming to provide a solution to the constant increase in demand for city-centre space at affordable prices, Kelham Works is shaping up to be highly sought after by investors. Apartments will be available from only £89,995, with an assured yield of 8% over three years. You can expect a return of £49,504 from a £75,000 investment in just five years. You can rent to either students or young and established professionals.

Any investors looking for property in Sheffield, contact the team at Aspen Woolf here. We’d be happy to talk you through your options and work with you to make a profitable investment decision.

How Liverpool is attracting investors from around the world

reliance house exterior

At the start of 2018, Liverpool is one of the country’s most popular cities thanks to its cultural, historical and architectural legacy. It’s also attracting investors from around the globe thanks to the dynamism of its property and business sectors.

We don’t think that the increase in investment in Liverpool property is likely to stop any time soon. Here are five reasons why we think it will continue through 2018 and beyond.

  1. Continuous And Extensive Regeneration

How Liverpool is attracting investors from around the world Aspen Woolf

Visitors to Liverpool will see the horizon scattered with cranes as the city continues to pump money into new developments. These range from commercial and residential buildings to new tourist attractions. One of the most interesting projects currently on the go is the Ten Streets regeneration. This is part of a 20-year strategic overhaul of the city, focusing on constructing a new ‘creative district’ aimed at bringing long term economic benefits to Liverpool.

  1. Endless Tourism Potential

The tourist sector in Liverpool is worth more than £3.8 billion. It’s one of the most visited cities in the UK and welcomes around 54 million people every year. The knock-on effect of this is that the industry supports about 50,000 jobs in Liverpool.

Popular attractions for tourists are varied, ranging from the Cavern Club for Beatles fans to the UNESCO World Heritage waterfront area. All these must-see attractions are backed up by more than a dozen Michelin-starred restaurants, and many more nightclubs, bars and eating places to try out.

  1. Undersupply Of Housing

Between April 2009 and March 2016, homes were built in Liverpool at an average rate of 713 every year. The Home Builders Federation estimates that Liverpool actually needs 3,000 homes every single year to keep up with the demand. This major mismatch between supply and demand has created an attractive investment opportunity.

The demand for homes in the city is constantly rising. The population of Liverpool rose by more than 120,000 people between 2001 and 2011 according to the Census, which represents a growth of 5.5% in just ten years. This pushed up housing prices and rents in the city, and in the outer lying regions.

In 2016, rents increased by 4.4% across the North West and house prices have risen by 22.7% since 2012. The price of apartments and flats has risen even faster at more than 25%.

  1. Young Population

How Liverpool is attracting investors from around the world Aspen Woolf

Liverpool consistently attracts a wide range of young professionals, drawn to the city for its economic potential. In the ten years between 2001 and 2011, those aged 22-29 living in the city centre increased fourfold. This has created an enthusiastic, dynamic, forward thinking workforce, ideally positioned to provide the city with a bright economic future.

Businesses are working hard to properly harness this young population, with business incubators set up in the city by the likes of Launch 22 and Santander. Liverpool is firmly ahead of many other UK cities when it comes to future-proofing its economic success.

  1. Economic Strength

Liverpool isn’t just a promising location for UK businesses and investors – it’s also one of the most appealing cities in the UK for multinational companies. Its mix of business sectors and income streams has allowed the city to build up strong economic credentials.

fDi Magazine, owned by the Financial Times, named Liverpool as joint second in the top ten mid-sized European cities of the future 2016/2017, particularly noting its business friendliness and connectivity.