A Top 10 Region for Property Investments and Rentals
In December, the latest LendInvest Buy-to-let Index report placed Hull sixth out of 105 regions for investment in rental properties. Compiled from extensive information on capital gains, rental yield and rental price growth, the report showed that investors in Hull can expect high returns, profitable rent and reliable property prices. It also showed Hull to be the fastest climber, jumping up 99 places on the list in just one year. Hull’s fantastic performance in this industry-leading assessment and the upward trend it shows are key indicators that now is the right time to invest in property in the city.
An Upwardly Mobile Economy
Since 2016, Hull has seen massive investment and increasingly positive financial prospects. Siemens and Associated British Ports have, between them, invested £310 million in a new wind turbine factory beside the city’s Alexandria Dock; an investment that has been reinforced by a major government outlay in the Green Port Project – Hull. However, this amount pales in comparison to the £1 billion of investment that has flowed into the city since Hull City of Culture began in January 2017. There has been £3.3 billion of investment flooding into Hull the last five years. Indeed, money continues to be invested as the city looks forward to holding the title until 2021. The reverberations from this economic boom can be felt throughout the city in the form of new businesses and job opportunities arising perpetually, not least in the Old Town and Humber Street areas that surround Prople’s investment.
More High-Quality Jobs
As mentioned above, the job market in Hull has expanded upward and outward, partly as a result of major investment. More highly skilled jobs have become available throughout the city as well as in the surrounding areas. The Siemens plant have created 1,000 jobs and many similar construction and distribution centres around the city have expanded the technical work economy throughout. Meanwhile, smaller businesses are appearing all the time. This means there are progressively more upwardly mobile individuals in search of high quality housing.
A New Look and a New Outlook
Hull is a city changing for the better. It has moved forward both socially and economically.
Walking through the town centre, it is impossible to miss the renovations and regenerations that have been undertaken, including the £80 million regeneration of the Fruit Market area; this is where Prople’s new properties will be situated. The changes are more than just physical though; tourism has skyrocketed, the town’s social standing has improved and long-term cultural projects are in progress. For example, the Hull based Ferens Art Gallery welcoming 519,000 visitors, an increase of 309 percent from the previous year. The gallery will soon be joined by a brand new cruise terminal, a state-of-the-art concert venue and a city centre maritime exhibit. Not to mention a new set of premium apartments.