26 January 2021

HULL's popularity following the City of Culture year has made the city and surrounding region an ever popular place to live, work and invest in property.

The UK buy-to-let market is now showing signs of recovery after COVID-19 affected the industry, with interest rates for mortgages at record lows and a wider variety of buy-to-let mortgage options available which, tied in with the current tenant demand for property, makes for an encouraging time to invest. 

 

Rob Corn, Lettings Valuer for the Linley & Simpson Hull branch says, 'We are experiencing a high demand for properties with 2-3 bedrooms in the following areas, Willerby, Hessle, Cottingham, Brough and other West villages. We also have a strong demand close to the ports, in Victoria Dock and Kingswood to the North where prices for 2 bedroom properties can reach up to around £600 per calendar month (pcm) and 3 bedroom properties to £775-£825pcm. Furthermore, Garden Village, Sutton, Bricknall, Ings and The Avenue's 2 bedroom properties are fetching around £525-£595pcm and 3 bedrooms £600pcm.

 

'The city itself is known as an industrial powerhouse with large corporations such as BP, Siemans, Reckitt Benckiser residing here. It's also a hot spot for culture, being home to a whole host of theatres, galleries, art collections and festivals that are held every year. There has also been a significant regeneration in the Marina and Docks which has made Hull a very attractive proposition for property investors. With house prices still being well below the national average and with rents increasing, Landlords investing in the region can expect to achieve high yields.

 

There are a variety of investment properties available for sale in Hull at the moment. Below is an outline of possible investments available.

Lil Bilocca Way

Lil Bilocca Way, Hull 

On the market with: Beercocks

Asking price: £170,000

Potential rent: £775pcm 

A superb three bedroom family home with a west facing garden and off-street parking for two cars- just a stone’s throw away from local shops.

Westlands Road

Westlands Road, Hull 

On the market with: Beercocks

Asking price: £90,000

Potential rent: £525pcm

Immaculately presented two bedroom, middle terrace property located in the ever popular residential area of West Hull.

Springfield Road

Springfield Road, Hull 

On the market with: Beercocks

Asking price: £100,000

Potential rent: £625pcm

This THREE bedroom mid terrace property comes with OFF STREET parking to the front via dropped curb with garage parking to the rear. Situated close to local amenities and good transport links to Hull city centre, A63 and M62.

Willow Grove

Willow Grove, Hull 

On the market with: Beercocks

Asking price: £60,000

Potential rent: £450pcm

Fantastic investment opportunity to be purchased with a tenant in situ - popular location just off Newland avenue. This property has the benefit of gas central heating and upvc double glazing and briefly comprises entrance hall, lounge, kitchen, rear lobby, bathroom and to the first floor are two double bedrooms.

 

For more information on investing in Hull, please contact the Hull branch. 

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