Prices from £136,000Learn more
Join CityClub Today to Receive:
Why Invest in Hull Property?
Not only is Hull one of the most affordable places to invest in the UK, but it can be the most profitable. Over the last five years, Hull’s house prices have continued to climb despite remaining lower than the national average. As the economy grows and the population expands, property demand grows with it. This consequently makes rental yields in Hull extremely attractive.
Did you know, Hull has ranked as one of the three fastest improving cities to live and work in? As the 4th largest city in Yorkshire and the Humber, it is unsurprising that the population grows at a rapid pace.
Hull is certainly a dark horse in the property investment world. Affordable prices, high rental yields, and increasing tenant demand indicate signs of a property investment hotspot. Back in 2017, the city possessed the title of the UK Capital of Culture. Ever since Hull has been basking in its Renaissance period. From regeneration to its lead in renewable technology, there are many more reasons why Hull presents a great, affordable route to property investment.
Regeneration Projects Totalling
Historically, Hull is famous for being a busy port city. However, in recent years, Hull has rebranded itself as an innovative, modern city. Paving the way for sustainable living, Hull is home to the largest renewable energy hub in Europe. Over the last 8 years, a staggering £1.5bn of investment has been injected into regeneration projects. Hull’s City Plan aims to leverage its historic past, investing £27 million into transforming its fishing ports and turning them into world-class tourist destinations.
On top of this, the centre of Hull received a massive boost in investment. By increasing connectivity, decluttering the streets, and providing high-quality walkways, street furniture, and lighting, the city’s public realm is being enhanced. This helped to unify the city centre, allowing Hull’s ancient buildings to stand out while still allowing for vibrant and diverse street life.
One of the most successful aspects of the project was the £83.6m transformation of Hull’s Fruit Market district into a new cultural hotspot. This area has been turned into a vibrant, mixed-use city district with galleries, street art, and small businesses. Here, Humber Street received the Academy of Urbanism’s “Great Street” Award in recognition of its achievements for independent businesses.
There are already 200 tech companies in the Fruit Market, as well as hundreds of digital enterprises, start-ups, and freelancers on top of the 733 jobs created by the project. A £24m residential development was included, homing 300 residents, and saw a third of the homes sold off-plan within four days, for a total of £7 million. Due to this and more, the Fruit Market and Hull City Centre have quickly become a magnet for buyers and investors from across the UK. This is indicative of Hull being a property investment hotspot.
Strong Tenant Demand for Hull Property
A huge contributor to Hull’s growing population is The University of Hull. Enrolling over 16,000 students a year, the university is home to several world-class research and development facilities. As the university grows, property demand increases from staff, students, and post-grads. Also, as the population increases, businesses will naturally follow suit. A city with a successful university produces a strong talent pool, which will draw in entrepreneurs and large businesses who want to take advantage of this.
Outside of the city centre, previously undesirable areas of Hull are unrecognisable thanks to the money student tenants are bringing in. Now, Hull’s suburban areas have become even more attractive due to their high density of contemporary cafes and independent bars. Increased desirability, evidently seen in residents’ rekindled pride for the city, increases Hull’s graduate retention rate, with more graduates wanting to stay in the city.
From an investor’s perspective, you may be more likely to look towards city centre accommodation for newer, premium accommodation. Thankfully, Hull perfectly caters to those wanting to live or invest in either the city or the suburbs. Both the city centre and the outskirts offer some of the best areas in Hull for living and investing, thanks to affordability coupled with profitable returns. Thanks to the rising population of city-centre living, tenants will pay much higher rents to live in desirable locations such as the Old Town, Fruit Market, and the Marina.
Hull is an extremely well-connected city. Due to its proximity to the M62 and A63 motorways, Hull is accessible to the likes of Leeds, Manchester, Liverpool, and further north to York. Also, several direct routes to London are available from Hull Paragon Interchange. The capital can be reached within just 2 hours and 40 minutes.
The city has excellent marine, rail, and road links, as well as quick access to international airports. Humberside Airport, Leeds Bradford Airport, Doncaster Sheffield Airport, Midlands Airport, and Manchester Airport are all within a short commute. Thus, connecting the city to the rest of the world.
A Leader in Renewable Energy
Hull is very much paving the way as an exemplary in the environmental field. For seven consecutive years, Hull received the Investors in Environment Green Certificate, praising the city’s efforts to lessen its carbon footprint. Hull has pushed through several schemes to subsist as a sustainable city. By introducing electric cars and green driver training, the city even cut carbon emissions by 7% in 40 different locations. Yet, the efforts do not end there. Hull has released a 2030 Carbon Neutral Strategy in response to the Climate Emergency.
Hull is already one step ahead of this game. In several years, businesses, residents, and investors will all value living in a city that prioritises its carbon footprint. This is already evident, as the younger generation, who make up most of Hull’s rental market, values sustainability. 73% of millennials are even willing to pay extra for an energy-efficient property, according to research by Nielsen.
Quickly, Hull is becoming one of the most desirable places to live and invest in. As we look towards the future, being an environmental pioneer will be more important than ever, to residents and investors. Hull is one of the UK’s leading sustainable cities. The ability to adapt and grow innovatively is what sets Hull apart from so many other investor locations.
Inspired to invest in Hull?
From its history and capital growth to regeneration projects and market forecasts, the CityRise City Guide will help in your decision to invest in Hull.
Click here to download the CityRise City Guide.
Landlord Guide: Why Energy Efficiency is Still Important
The EPC requirements for landlords, for new properties to have a rating of C or above by 2025, was scrapped last month. However, should a landlord...
One City Park | Bradford
One City Park in Bradford is close to completion after a year and a half of construction. Its 5 storeys of Grade A office space enhance...
Benefits of an Off-Plan Property Investment
There are many benefits of purchasing an off-plan property, or new-build. However, during the current climate of the property market, is buying a...
Sustainable Urban Living and Green Cities
Sustainable urban living is the backbone of any green city. In these areas, regeneration projects around connectivity and green spaces improve...