Property Investment in Sheffield

The city offers great business opportunities, attracting professionals from across the region. In turn, this will increase the number of renters in the market. In 2014, 19 of Yorkshire’s biggest companies were in Sheffield, with over 52,000 businesses in operation.

According to predictions, over the next decade, 70,000 additional jobs will be available in the city. This is great news for property investors in Sheffield because an influx of renters in the market will eliminate the risk of vacant properties. The city attracts huge funds and is home to world-renowned brands, including the largest aircraft manufacturer, Boeing, and the McLaren Automotive factory. It is also home to Rolls Royce, a business giant contributing £12.2bn to the UK economy. Economic activity is expected to increase to £3.7bn in the next decade.

Sheffield is constantly generating exciting opportunities for workers and, therefore buy-to-let investments. Research-led facilities, listed below, employ professionals across the divisions of aerospace, transportation, and healthcare.

Located in South Yorkshire, Sheffield is one of the largest cities in England, with a thriving and diverse metro area population of 741,000. This unique city boasts the highest ratio of trees to people in Europe (7:1). Not to mention, a third of the city lies within the Peak District National Park.

Properties close to outdoor spaces are extremely desirable and are currently in very high demand. Thus, acting as a magnet for people interested in property investment in Sheffield. Buyers are assessing their home spaces to suit their current requirements in the wake of the pandemic. A recent survey revealed that over 55% of people are prioritising searching for a home close to a park or near open spaces. Investors looking to purchase property in Sheffield, rest assured, the city is surrounded by ample amounts of open spaces and beautiful scenic areas.

Sheffield is a highly desirable property investment city in terms of accessibility and connectivity. Four airports are conveniently located within an hour’s drive of Sheffield, connecting residents globally. The transport hub also boasts impressive road and rail links, including the citywide Supertram network. The tram network connects to 50 stations, allowing residents to commute with ease. Furthermore, it connects commuters with bus services, rail services and six park-and-ride sites. As a result of the effortless journeys, the city attracts an array of skilled professionals who can travel to work efficiently.

This thriving commercial city presents an excellent opportunity for property investors as the capital growth of Sheffield increases. Two large-scale transport projects are on the horizon, heightening Sheffield’s connectivity. One of the key projects happening is Network North. This scheme includes upgrading and electrifying lines between Sheffield and Manchester, Leeds, and Hull. Therefore, broadening the employment possibilities available for the younger and working population. Consequently, this will boost demand for property in the area, with the influx of renters in the market, making it ideal for buy-to-let investors wanting to capitalise on the potential of Sheffield.

Known to adapt and diversify, the city has future-proofed its economy. The Sheffield City Region Mayoral Combined Authority and Local Enterprise Partnership have approved a 20-year Strategic Economic Plan (SEP). To rescue the economy from the pandemic, SEP plans to boost South Yorkshire’s economy by £7.6bn in 20 years.

“We want to create good, high-paid jobs for local people, attract investment and ensure our people have the skills they need to thrive. We will work with our partners to improve the health of our residents, reach net zero emissions by 2040 and transform the places people live.” – Dan Jarvis, Mayor of the Sheffield City Region.

Sheffield boasts a dynamic and creative city culture, with a vast number of museums and galleries positioned in the city. It is home to the Millennium Gallery, one of the most visited tourist attractions in the North of England. The Site Gallery is also undergoing a major redevelopment. Investment projects are rapidly changing the face of the city and building on its capital growth. Additionally, the tourism sector brings in £100 million to the local economy, making property investment in Sheffield an extremely viable choice.