Famous for Humbrol paints, Philip Larkin, tiny windows, and strange road names, Hull is a hidden gem of Yorkshire. Hull is also the 2017 City of Culture and with its Larkin legacy, individual cream telephone boxes, and the Humber Bridge, it’s easy to see why.
Most importantly, Hull is also home to the world’s largest Yorkshire pudding factory.
And that strange road name? The Land of Green Ginger; seriously.
In all seriousness, Hull makes a great location for buy to let investors. The city has, and is, undergoing some serious investment largely due to its forthcoming City of Culture title and years of decline after the end of the fishing industry. Hull swings between being voted both the best and worst places to live in the UK depending on which newspaper you read: The Sunday Times recently voted Hull one of the best places to live, whereas a survey based on old data, voted it the second worst according to The Yorkshire Post.
Hull has an independence of spirit and one of the most stable student populations in the country – perhaps due to its rather separate location. Hull is investing heavily in its tourist industry and the education of its population. Years of decline following the demise of the fishing industry are turning around and that independent spirit is proving a winner amongst the northern cities.
So, if you’re looking to invest in a buy to let property in Hull, just where should you target your efforts?
At just a two-minute walk to the university campus, Cranbrook Avenue is popular with second year students living away from university owned accommodation for the first time. Add to this a plethora of take-aways and a healthy student population and it’s easy to see why this area has become a particular student hot spot. If you’re looking to invest in a student house, Cranbrook Ave could be just the location for you.
Orchard Park is a council estate and home to many families on low incomes. Although suffering from years of little investment and general decline, the area is currently coming to the end of a three-year investment plan that has seen many news homes being built. If you’re looking to invest in the lower end of the price range, Orchard Park could be ideal.
If you’re looking to target the young professional market, Hull’s Old Town area provides plenty of scope for investment. With an array of two-bed flats and proximity to the bustling city centre, the Old Town is popular with younger, independent and professional renters on the early stages of the career ladder.
Hull has plenty to offer investors. With an abundance of property, and a higher than average population of renters, investing in Hull could be a really smart move. This little city at the end of the line, is on the up. As ever, we always advise you to make the most of your cash by doing careful research before you spend any hard-earned pennies.