Peterborough, according to Peterborough Today has recently been voted as one of the top three places to live if you are commuting to London.
With house prices seriously lower than in the capital, and a journey time of just 50-60 minutes to Kings Cross, there are serious accommodation savings to be had from living here instead of the capital.
The city does however struggle with its location next to beautiful Cambridge and of course, London itself. As seems to be so often the case, little cities without a unique selling point do struggle when positioned next to mightier cities.
One of Peterborough’s major problems is its lack of university. Universities do tend to bring all sorts of good stuff with them like nightlife, culture, and diversity. It does have a satellite of Anglia Ruskin University but to date, there are just eight hundred students studying in the campus, imaginatively named University Centre Peterborough.
The centre itself does feature a marvellous Norman Cathedral – possibly the sole reason Peterborough has city status. There is also the intriguing Bronze Age archaeological park, a few museums and plenty of outlet shopping.
For culture, there are three theatres and a cinema but with quick journey times to Cambridge and London, there are plenty of ways to make sure your culture needs are met.
Peterborough is located in rural East England and is well located for access to all the outdoors living offered by Lincolnshire, Rutland and Northamptonshire.
So where should you look to buy to let in Peterborough?
The Hampton area of Peterborough is just one of many new housing estates. With new development comes new amenities – namely a Tesco Extra store – and this has proved popular with residents comprising of young families and commuters. A recent surge in school places has led to a new school being built but this should be a strong consideration of you’re looking to target the family market.
Parnwell is not though of well. However, if you’re looking to target the lower end of the renting market and are aiming to purchase ex-council property, then this could be the area for you. With a higher than average renting population, keeping the property rented could be more straightforward.
The centre of Peterborough itself is a good spot to look into if you are looking to target young singles living in multiple occupancy accommodation. The stock there has lots of big Victorian terraces that lend themselves to becoming HMOs. Houses in the centre tend to be rather unloved and come in at the lower end of the price scale.
Peterborough doesn’t have the best of reputations as a modern and forward thinking city but it does have a lot to offer the buy to let investor. Whether you’re looking to rent to young singles, families or commuting professionals, this little city has something for everyone.
As ever, make sure you do your own extensive research before you leap into the Peterborough buy to let market.