Let’s be honest if you don’t know Hull it’s probably the place you’d think about as a place to invest in, with a reputation of a failing northern city. However, investors would be missing out on a real treat of a city.
Hull offers some of the cheapest buy to let property all across the country, with the city now on the up, now is the time to take advantage and invest in property in and around Hull. Some would say it’s an investor's hot-spot.
Hull Property Market
Hull or its official name Kingston Upon Hull, is located in Humberside on the east coast of the country, with a population of around 260k, which is the highest it’s been in over 20 years, suggesting people are no longer moving away and choosing to stay in the area, a bonus for the housing market.
As one of the largest ports in the country making it perfect for logistics, close to the M62 motorway is ideal for large companies to set up their headquarters and warehouses such as Crown Paints, KCOM and Aunt Bessies. This has led to a high demand for property specially with migrant workers.
With a well renowned university, The University of Hull is home to around 16,500 students which will continue to grow, putting a great deal of demand on student accommodation across the city.
So, where to invest?
The city centre and the immediate inner suburbs has a population of around 45,000, with house prices ranging from £88,000 to a modest £128,500. You really shouldn’t overlook this area, it would be ideal for shared lets such as houses of multi-pal occupancy and student lets. You could gain a yield of over around 7% in HU2.
East Hull has a similar population as the centre around 47,000 but house prices are higher you can expect to pay on average between £130,000 to £150,000. The area is close to the port and dock, so again would great for larger HMO properties for migrant workers, expect a yield of around 5% in HU8.
Travelling to north Hull, the population is little less just over 40,000, the north suburbs of Hull historically has had bad reputation but regeneration and investment have been evident in the area in more recent times, with property values of £100,000 up to £175,000. If, you’re interested in investing in new build property this is the location of Hull for you.
As you head inland property values increase dramatically, in South West Hull the population increases to just over 47,000 with property values £180,000 to £240,000, great little villages with road links throughout, ideal for upper and mid-priced property, investors can still bag themselves a bargain.
West Hull has the largest proportion of the city's population just short of 70,000 class West Hull as their home, the average property value is the highest across Hull around £250,000. Lots of investment was introduced into West Hull, big open space properties with large gardens, excellent transport links making it the perfect place for families. You would expect to find a rental yield of 3% in HU16.
Peregrine Property Hull
If you have any questions about buy to let properties in and Hull, or just looking to see what property we have available get in touch with us online or over the phone.