It’s the New Year, and we’re back in the office, ready and raring to go. 2018 was certainly an interesting year. All the noise around Brexit seemed to create market shifts, but on the ground things are still moving with the same volume, if not slightly faster.
Brexit or not, people still need to live somewhere, and with growth rates slightly stunted against the 5 year trend, investing is becoming more attractive.
Interestingly a lot of the investors we talk to are following the standard path of “city centre – near a university – by the station” when searching for property, in locations such as London, Nottingham, Sheffield, Leeds etc. However, competition is fierce in these areas and yields are not what they used to be. So investors looking for higher yields need to cast their nets wider. This is a great opportunity for us as we cover the ‘hidden gems’ of the property world.
As one of the UK’s fastest growing cities, Peterborough is enjoying a boom time. Almost 1800 new businesses started up in Peterborough during 2017 – up over 11% over the last three years. It is certainly one of the greenest cities in the UK with ambitions about growing as a digital leader in the UK. Being close to the A1, less than an hour to central London and with land prices lower than other parts of the UK, it makes sense that lots of new businesses are attracted to the area. Demand for housing has never been higher.
If you are a petrol head, we hope to see you pop up to the local showground. Truckfest, the Festival of Motorcycling and the International Car and Classic shows are all taking place this year. Each event is set to be bigger and better than ever before.
Historically, Peterborough has had many famous names grace its streets, including Henry Royce, co-founder of Rolls-Royce, and Frank Perkins co-creator of the diesel engine.
However, one of the biggest stars to herald from Peterborough is also one of the smallest stars; Warwick Davis. The 3 ft 6 celebrity appeared in Star Wars, Harry Potter and many other films and TV programmes. He is instantly recognisable and can often be seen driving around the town in his adapted Mercedes.
So next time you are travelling up (or down) the A1, pop in and have a look around. I’m sure you’ll be pleasantly surprised.
On the other side of my territory, we have the historic areas of Kings Lynn heralding a gateway to the Sandringham estate and North Norfolk. Clearly the most famous residents in this area are members of the Royal family. However, working around the coast, we have many other talented and famous names.
Sir John Hurt and Sir John Mills are two acting legends who love the peace, tranquillity and beauty of the coastline. Dumbledore himself, Sir Michael Gambon, favoured the area (although no corners were named after him) and Olivia Coleman grew up in the little village of Holt. And how can we make light of famous faces around Norfolk without mentioning Stephen Fry!
Kings Lynn is looking at a renaissance with significant investment planned to increase commerce in the area. Initial reports from the council state that 2,500 jobs are to be created with the new innovation areas planned on the outskirts of the picturesque market town.
The impact of this is that lots of the surrounding smaller towns and villages are enjoying significant interest from developers looking for opportunities. Infill sites for 2 – 10 houses present great opportunities for builders and creators.
During the transition works and whilst the jobs market beds in, we expect there to be high demand for short term rentals. We are actively seeking HMO opportunities for investors to meet the demand. Being close to the coast, there is also a vast network of property and facilities management organisations we can plug investors into. So you can get on with life while the properties take care of themselves.
So if you want something interesting, then maybe a trip out east will be well worth your time.
Speak to Nick Sheehan who specialises in investment property.
Call 0333 123 1330