What makes Sheffield a Property Investment Hotspot?

An Abundance of Outdoor Space

Previously nicknamed the ‘Steel City’, Sheffield gained an international reputation for steel production in the Industrial Revolution. The city is also well known for its dynamic university scene and rich industrial heritage.

Although Sheffield was formerly an industrial city, it is now one of the greenest major cities in Britain! Boasting the highest ratio of trees to people in Europe (4:1). Not to mention, a third of the city lies within the Peak District National Park. This is a great selling point for investors. Properties close to outdoor spaces are extremely desirable and are currently in very high demand. Thus acting as a magnet for investors.

Buyers are assessing their home spaces to suit their current requirements in the wake of the pandemic. As lockdown restrictions ease, many people are heading to parks or outdoor spaces to meet with loved ones at a distance. As we head into warmer days, outdoor exercise has also become a lot more popular. A recent survey revealed over 55% of people are prioritising searching for a home close to a park or near open spaces. This figure has increased by 13% on the year before and we predict this will continue to rise. Rest assured for investors looking to purchase in Sheffield. The city is surrounded by ample amounts of open spaces and beautiful scenic areas.

Economic Recovery after COVID19

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.

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.