At our property investment seminars, we often get asked about location; and in particular, how much it can affect your ROI. The short answer is… it can affect it a lot. Choose the right location to invest in property in the UK, and you’ll end up with a solid rental income and good profit from capital growth.
Of course, choosing the right location is easier said than done. Our team of property investment agents often talk about the potential of the North – in particular, cities like Liverpool, Manchester and Sheffield. In this blog, we’ll be taking a closer look at the latter, and identifying just a few reasons why it makes sense to invest there.
Why Buy-to-Let Properties for Sale in Sheffield?
The media usually focus on the potential of Liverpool and Manchester; but trust us, it’s a big mistake to overlook Sheffield. The S1 and S2 postcodes offer an average rental yield of around 9-11%; which is among the highest in the country. Likewise, other parts of the city are also lucrative for landlords; including the S3 and S6 postcodes.
Why So High?
As a property investor, it’s important to ascertain what’s driving rental rates / property prices; so that you can predict what might happen further down the line.
There are a number of reasons why Sheffield is proving so popular with tenants. These include:
- Two major universities. The city has a thriving student population, and most of them are actively seeking rented accommodation. As you might expect, this pushes demand up considerably.
- High performing business hub. Sheffield enterprise has soared in recent years, and now, the city is attracting major national / multinational companies. This has boosted employment and as such, more people are looking to move into the area.
- Proximity to nature. Despite being a large city, Sheffield is set within spectacular natural surroundings; which appeals to nature-lovers and families alike. Again, this has impact on the rental market.
- Extensive regeneration. Sheffield once had a reputation for being a classic ‘run-down’ industrial city. However, this isn’t the case now. Serious regeneration has transformed many parts of Sheffield, which has driven tenant interest up accordingly.
- Cultural scene. Sheffield has an excellent music scene, plus plenty of theatres, bars, cinemas and museums. This appeals to a wide variety of tenants, old and young – and certainly helps to push rental rates skywards.
Why Invest in Sheffield Now?
Our team of property investment agents predict that prices will start to rise in Sheffield, which will squeeze potential profit margins. That’s why we recommend getting in quick, while prices are still appealingly affordable.
If you’re interested in investing in property in Sheffield, or are looking for buy-to-let property for sale anywhere else in the UK, talk to The Buy2Let Shop. Our team are here to help you with every aspect of your investment, to ensure you find the ideal location, at the right price for your budget. To find out more, visit The Buy2Let Shop website today.