More than 65,000 students: Is Sheffield the place to buy?
Recently we’ve seen a great deal of inner-city property development in Sheffield that caters for the exponentially growing market of students and young professionals.
This stems from new luxury accommodation to cater for the more than 65,000 students in the city to the regeneration of Kelham Works which is offering a 9% yield to investors as the area adds to its ‘SoHo’, edgy dynamic.
Heading into February 2017, the price of property dropped by 1.04% but the annual rise is still a handy 3.16%. That got us thinking that Sheffield, with its two universities and tens of thousands of students could be the right place to buy-to-let. On top of this, there are only 11,000 rooms that are university managed.
In my last post, I talked about where to look for a buy-to-let investment in Sheffield with the popular S2 area boasting a potential yield of close to 10%.
And, with this alongside growing employment rates – Yorkshire and The Humber, with the largest growth in the UK of 2.2% last year – there is likely to be more money around to improve both demand and property prices.
With this in mind, it might be time to get in quick. The majority of student accommodation comes from terraces and flats and these are the percentage annual changes showing the positivity in this part of the market now:
Interested in a buy-to-let in Sheffield? The most popular university areas are Broomhill, Crookesmoor, Crookes and Ecclesall Road. We have a new tool to help landlords find the best buy-to-let opportunities, or get in touch with our team today.
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