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Why Preston is a Hotspot for Affordable Properties
Preston has become one of Lancashire’s most appealing cities for affordable homes, and it’s easy to understand why. It’s a place where you can find a unique balance of beautiful housing options, excellent local amenities, and a lifestyle that suits both families and professionals.
Whether it’s charming terraced houses in the city centre or spacious 4-bedroom detached homes in areas like Fulwood, Preston has a variety of properties available for sale to meet different needs and budgets.
Affordability is one of Preston’s strongest draws. According to Land Registry data from August 2024, the average price of a home here is £169,000, which is lower than the average price in the UK, which is £286,000. The fact that you get a lot for your money makes it even better.
For example, in Fulwood, you can find a detached four-bedroom family home with modern designs, large rooms, and easy access to great schools and parks. This is a lot more for your money than in nearby places like Manchester or Liverpool.
Preston’s location is another major advantage. With the M6 providing easy access to the rest of the North West and train connections making it simple to reach Manchester or even London, the city is incredibly well-connected.
Local amenities are also a big part of its appeal. Avenham and Miller Parks offer beautiful outdoor spaces for recreation, while the Fishergate shopping district caters to everyday needs. It’s a city that combines affordability with convenience, making it a fantastic place to live or invest. Explore spacious 4 bedroom detached house in prime areas like Fulwood. These are perfect for tenants seeking comfort and convenience.
For property investors, Preston’s potential is hard to ignore. The £434 million Preston City Deal and other ongoing efforts to revitalise the area are helping to raise property prices and bring more people to the area.
Another important factor is rental demand. This is especially true near the University of Central Lancashire (UCLan), where student living is always in high demand. When you want to buy a home, invest, or just move, Preston, Lancashire, has a lot of options and is a cheap way to get started.
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Cheap Houses on Sale Available Around Preston
Find budget-friendly homes with min beds ideal for first-time investors or renters. Here are two projects on sale we’d strongly recommend if you’re considering investing in houses for sale around Preston:
Guildhall Gardens, Preston
Located in the prestigious Winckley Square Conservation District, Guildhall Gardens is a standout option for anyone looking for affordable yet high-quality apartments. This new building meets the city’s growing need for stylish places to live, which makes it a good choice for tourists, business travellers, and people renting for a short time.
The building has 32 apartments with one bedroom and 3 apartments with two bedrooms. It has the beauty of the past and the ease of the present. Each flat was carefully designed to make living there stylish and comfy.
It’s in a great spot, close to Market Hall, the Fishergate Shopping Centre, and the University of Central Lancashire (UCLan). It’s great for people who like to take things easy because everything they need is right outside their door.
£776 pcm
250 Years
8%
Q3 2023
Key Project Highlights
- Affordable apartments start at competitive price points.
- Situated in Winckley Square, a famous spot in Preston with locals, students, and visitors alike.
- Includes 32 apartments with one bedroom and 3 apartments with two bedrooms. All of the furnishings are new and stylish.
- Conveniently based near UCLan, Market Hall, and Fishergate Shopping Centre.
- Only 0.5 miles from Preston Train Station, making it easy for travellers and workers to get to and from work.
- Large demand for high-end serviced flats because of Preston’s booming economy and revitalisation.
Berkeley Square
Located approximately 35 miles from Preston, Berkeley Square provides an affordable entry point into the bustling Manchester property market.
This development has high-end apartments in a convenient and highly sought-after areas, making it perfect for short-term renters and business travellers. The apartments are located near important business and cultural areas, such as the Manchester Art Gallery, Deansgate, and Piccadilly.
They are therefore a great choice for business travellers and tourists who want to stay somewhere stylish and easy to get to. Every flat in Berkeley Square is well-rounded because it has a large plan, high-quality finishes and access to shared facilities.
These amenities are designed to fit the needs of modern city life, whether you’re looking to meet new people or unwind after a long day.
£1,065 pcm
250 Years
25%
Q2 - Q4 2026
Key Project Highlights
- Modern designs and premium amenities help the flats to be pleasant for both business and leisure visitors.
- Perfect for professionals, this flat is close to thriving commercial districts such Deansgate and Piccadilly.
- Near the Manchester Art Gallery, Deansgate, and Spinningfields, culturally conscious visitors will find appeal.
- Designed with communal places for leisure or networking, it improves residents’ quality of life.
Budget-Friendly Properties for Sale Across the UK
If you’re willing to expand your search beyond Preston, there are some incredible deals across the UK. Two more properties that caught my eye are City Gate in York and The Merchant in Hull, both offering great value and potential.
City Gate
Over five floors, City Gate, York has a total of 62 luxury flats. This building has a unique design—dark and pale brickwork combined with timber siding. Every flat features upscale finishes akin to Italian tiles in the bathrooms. This makes it an ideal place for those who want an on-sale bedroom detached family home.
Among the very wonderful features of this property are a high-end gym, private grounds, safe parking, and a butler service. City Gate is a flexible investment choice for both long-term renters and short-term visitors, positioned in a city known for its historical appeal and active tourism sector.
£3,253 pcm
250 Years
20%
£5,000
Key Project Highlights
- It has five floors and 62 flats. The outside is a striking mix of dark brick, light brick, and hardwood cladding.
- The interiors are very nice, with bathrooms made of Italian marble and rooms that are big and bright.
- There are many nice features on-site, like a 5-star lobby, private gardens, safe parking, and a high-end gym.
- Great spot in York, a city with a lot of tourists and businesses.
The Merchant
Located in the heart of Hull, The Merchant is a stunning luxury apartment development designed to deliver a refined urban living experience.
This property features 29 bespoke one- and two-bedroom apartments, each tailored to meet the needs of busy students and young professionals. With high-quality finishes and thoughtfully designed interiors, The Merchant perfectly balances affordability and style.
Hull’s strong economy and thriving cultural scene make it a top choice for rental opportunities. Residents of this building will enjoy a lively city life because it is close to shopping malls, pubs, and restaurants, among other things.
The Merchant is a great place to rent because it is only a five-minute walk from Hull Station and has great rail connections to Leeds, York, Manchester, and other important towns.
£776 pcm
25%
Q3 2024
£5,000
Key Project Highlights
- With 29 one- and two-bedroom units custom-designed and furnished in a modern manner.
- Near the Ferens Art Gallery, Maritime Museum, and The Deep Aquarium in Hull’s city core.
- From Hull Station, which boasts simple rail connections to Leeds, York, Sheffield, and Manchester, just a few minutes walk.
- Surrounded by cafes, bars, stores, and restaurants offers a lively metropolitan life.
- Positioned to draw students and young professionals drawn by Hull’s fast-expanding economy and excellent cultural activities.
Top Areas for Cheap Houses in Preston
With years of expertise assisting investors, I can confidently state that Preston, Lancashire, is one of the greatest places to find affordable houses for sale in the UK.
The city has a mix of neighbourhoods that offer something for everyone, whether you’re an investor looking to expand your portfolio or a first-time buyer looking to get on the property ladder. Areas like Ribbleton, Deepdale, Ashton-on-Ribble, and Fulwood stand out when it comes to value and potential. Discover properties with flexible options, offering up to the max beds to suit your investor’s needs
In Ribbleton, I’ve often directed clients who are after budget-friendly bedroom detached houses or semi-detached homes. The properties in this region offer excellent value and tend to be nearby to schools and public transport, which is a big draw for renters and families alike. It’s a great place for investors to look for a good property that won’t break the bank.
Deepdale is a good place to rent out if you want to make money. Because it’s closeness to the University of Central Lancashire (UCLan), rental homes will always be in high demand.
Many investors we’ve worked with have found affordable houses here that yield strong, steady returns. Deepdale offers a fantastic opportunity to balance low upfront costs with reliable rental income.
For those with a creative streak or a desire to add value, Ashton-on-Ribble is worth exploring. I’ve helped clients purchase off-plan properties in this place, and the results have been impressive.
With its proximity to the city centre and a variety of property types, Ashton-on-Ribble is ideal for anyone looking to transform an affordable home into something stunning.
At last, Fulwood, where I often guide those seeking long-term stability. While the prices here can be a little higher, you get a lot for your money—spacious 4-bedroom detached houses, access to great schools, and a community-focused environment. Fulwood is perfect for buyers looking for the best places to live in Preston while still benefiting from value for money.
How You Can Find Cheap Houses in Preston
Work with Local Agents
To make your investment pay off, you need to work with reputable local real estate agents. That’s where Flambard Williams comes in. Because we’ve deep knowledge about Preston’s real estate market, we’ve helped a huge number of clients find properties that aren’t advertised very often, like hidden gems in areas with a lot of promise.
Our expertise ensures you’ll find exclusive off-market opportunities that align with your budget and goals, whether you’re searching for a rental property near UCLan or a bedroom detached family home in a quiet suburb. Visit us at Flambard Williams for expert guidance.
Search for Up-and-Coming Areas
Investing in places that are on the rise is something I’ve always told my clients to think about. Some of the best chances are often found in areas that are being redeveloped or where infrastructure is being improved.
In places like Ashton-on-Ribble and Deepdale, you can find cheap houses that might go up in value soon. We at Flambard Williams can help you find these chances before the market fully understands how valuable they are.
Look for Renovation Projects
If you’re open to rolling up your sleeves, I highly recommend looking into renovation projects. Over the years, we’ve guided investors in transforming affordable homes in areas like Ribbleton and Ashton-on-Ribble into awesome properties.
Renovation projects allow you to buy low and add significant value, whether you plan to sell for a profit or rent the a-bedroom detached family home out. With our help at Flambard Williams, you’ll know exactly what to look for in a property to maximise its potential.
How You Can Generate Steady Passive Income from Rental Properties
Generating passive income from rental properties isn’t about luck; it’s about making informed, strategic decisions at every stage. Over the years, many investors have become financially independent using some of our simple but well-thought-out methods.
It comes down to picking the right spot, keeping up with market trends, making the most of your property, and managing it well. How to do it is given below.
Know Your Market
Where you buy property is very important to its growth. It is important to put your money into places where people want to rent. For example, look at Preston, Lancashire.
Tenants always want to rent properties that are nearby to schools, shopping centres and public transportation places. Homes close to the University of Central Lancashire (UCLan) are particularly sought after by students, ensuring year-round rental income.
When considering Preston, research is essential. Explore rental yields in different neighbourhoods. On average, rental yields here range from 5% to 7%, depending on the property type and place. Investing in such high-demand areas not only ensures a steady income but also increases the likelihood of property value appreciation, making it a smart long-term investment.
Understand Market Trends
It’s important to know what the market trends are if you want to find good investment chances. For example, the £434 million Preston City Deal has done a lot to help the real estate market in Preston by improving facilities and raising demand for homes. Investments like these are often a good indicator of areas where property values and rental demand are likely to grow.
Look beyond a property’s immediate appeal. Factors like population growth, job creation, and new developments are strong signals of a market poised for steady rental income and future appreciation. Staying informed about such trends can give you a competitive advantage.
Calculate ROI Before You Buy
Before committing to a property, it’s crucial to know what kind of return on investment (ROI) you can expect. Compare the purchase price against potential rental income and other costs, such as management fees and maintenance.
For example, purchasing a four-bedroom detached property in Preston, Lancashire for £200,000 with a monthly rental income of £1,200 results in a gross rental yield of 7.2%.
Consider using planning tools such as a Passive Income Calculator. These tools will give you a personalised investing strategy, indicating how much you need to invest and how long it will take to reach your financial objectives.
Whether you aim for a consistent income or long-term financial security, using a passive income calculator can provide you with a clear path forward.
Strategically Handpicked Properties for Optimal Yield and Capital Appreciation
Make Your Property Stand Out
Satisfied tenants are more likely to stay longer, reducing turnover and vacancies. For example, families often look for homes near good schools and parks. Professionals, on the other hand, value modern furnishings, high-speed internet, and easy access to public transportation. Making adjustments to your home to satisfy these demands might improve its appearance and make it more attractive.
Consider making energy-saving adjustments, such as installing double-glazed windows or solar panels. These features reduce tenant utility expenses and increase your bedroom detached house market competitiveness. Small upgrades like these might lead to quicker rentals and possibly better rents.
Go Hands-Off with Professional Management
If you want truly passive income, professional property management is the way to go. Managing rental homes means finding tenants, handling maintenance requests, collecting rent, and following the law. This might take a while if you live a long way from one of your homes or if you have a lot of them.
This kind of work can be done for you by a property management company like Flambard Williams. We do everything, from finding good tenants and managing leases to doing regular repairs and collecting rent. This means you can enjoy the benefits of your spending without having to do any daily tasks. We can also give you personalised advice on how to get the most out of your rental home and make sure you get a steady return on your investment.
Increase Your Profits with Tax Benefits
Owning rental properties in the UK offers a number of tax savings. You can deduct from your taxable rental revenue expenses including mortgage interest, property management fees, maintenance, and even advertising. Further enhancing your return on investment, energy-efficient improvements could be eligible for tax reduction or government incentives.
You can get in touch with a tax advisor or a property agent to maximise these advantages. Many investors have increased their profits by merely utilising the offered deductions. That action can have a major effect on your bottom line.
Conclusion
Affordable housing in Preston is a great chance for both buyers and investors because it has low entry costs and a lot of room to grow. Many housing choices, high demand for rentals, and the benefits of ongoing revitalisation efforts make Preston a great place to live for affordability, convenience, and lifestyle appeal.
With local knowledge, market research, and smart decisions, you can find a house that will give you both short-term and long-term benefits. Whatever level of experience you have as an investor, Preston is a city that offers great property options in the UK.
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