Why to invest in Plymouth property?
One of the UK’s most southerly cities, Plymouth is probably most famous for being the port that the Pilgrim Fathers left from, before forming the country that is now the United States of America. But there’s so much more to this place than those who left.
With a population of over 260,000, Plymouth is the second-largest city in the South-West region.
It is also home to the historic Smeaton Tower lighthouse. The third and most notable of the Eddystone Lighthouses, it was designed by celebrated civil engineer John Smeaton. Modeled on an oak tree, the design was a significant step forward for these key seaside constructions. After Smeaton Tower went out of service in 1877, it was moved to Plymouth Hoe, where the Grade-I listed building stands as a memorial and popular tourist attraction.
Other big draws for visitors are the Mayflower Steps – from where the famous vessel set sail for the New World in September 1620 – as well as the Plymouth City Museum and Art Gallery, the historic Plymouth Gin Distillery, and National Marine Aquarium.
Students come to Plymouth for exciting cultural activities, great nightlife, and of course, excellent education. Plymouth is one of the largest student cities in the UK, with a student population of around 30,000.
This makes a great opportunity to invest in Plymouth property because there are a lot of students who need to be housed.
The overall average property price in Plymouth is £238,000 (an increase of 3% compared to last year) which is significantly lower than the UK average of £298,000. Properties in Plymouth are affordable to buy, rents offer good returns and the city has a steady stream of young people likely to be looking to rent a property, which presents a great opportunity for property investors.