Table of Contents
Why To Invest In Hull
Competitive Property Prices
One of Hull’s strongest draws for investors is its affordability compared to other UK cities In September 2024. The provisional average house price you need to pay here in 2024 is £144,000.
This means there is an average growth reflecting a 5.9% increase. While this rise indicates healthy growth the Hull remains far more accessible than many other regions.
What is even more encouraging is the breakdown of price growth by property type. Semi-detached properties in Hull saw a 6.7% increase in this year. While flats experienced a 3.6% rise.
For those considering off plan properties then this trend shows a promising market trajectory. That too for investors targeting long term capital appreciation.
Here are some more facts,
- The Average House Price of Detached properties: £265,000
- The Average House Price of Semi-detached properties: £164,000
- The Average House Price of Terraced properties: £127,000
- The Average House Price of Flats and maisonettes: £95,000
Hull’s affordability does not just stop with purchase prices. Off-plan developments offer even greater value.
Many new homes are competitively priced. This gives the investors a chance to secure a plot in prime locations. Such as the city centre or near key attractions like Humber Bridge Country Park. All at prices that allow for significant returns.
Compared to other UK cities the Hull is an excellent choice for investors seeking high-quality plus modern living spaces at a reasonable cost. Its growing economic activity and ongoing regeneration projects are likely to continue pushing up house prices in the future. This makes now an ideal time to invest.
Higher Rental Yield
Hull’s property market is gaining attention for its strong rental yield.
Have a look on this graph-
Source: ONS
Analysis-
- In October 2024 the average monthly private rent in Kingston upon Hull rose to £614
- There is an 8.5% increase this year.
- Last year in October the average monthly private rent stood at £566.
- This steady growth in rental income highlights the city’s appeal as a vibrant location.
- It attracts tenants seeking modern living spaces and hence creating a consistent demand for quality properties.
By how many bedrooms there are in a property (as of October 2024 in Kingston upon Hull)
- One bedroom: £439
- Two bedrooms: £545
- Three bedrooms: £655
- Four or more bedrooms: £881
Taking the data instead by property type, average rents were:
- Flats and maisonettes: £496
- Terraced properties: £605
- Semi-detached properties: £653
- Detached properties: £856
The combination of rising rents and relatively low property prices makes Hull an excellent location for buy-to-let investors. Particularly to those who are aiming for consistent cash flow.
The city’s ongoing regeneration and growing economic activity further strengthen the case for investing here. It ensures a steady demand for rental properties in the coming years.
Ongoing Regeneration Projects
Hull’s transformation over the last decade is nothing short of remarkable. The city has undergone extensive regeneration. Starting from revitalising the city centre to developing key transport links and boosting local economic activity.
As an investor you should always look at what is happening. I would highly suggest investors to always dig deeper before investing. This means you need to look beneath the surface of a city’s growth.
Here is a list of all the ongoing regeneration projects –
| Project | Investment Amount | Description |
|---|---|---|
| Albion Square Development | £96 million | A transformative city-center project creating a vibrant mixed-use development with residential apartments, office spaces, retail units, and a public urban park. The project preserves the iconic Three Ships Mural and aims to significantly boost Hull’s urban appeal by 2026. |
| Spring Bank Conservation Area Regeneration | £2 million | Focused on preserving and revitalizing the character of the Spring Bank Conservation Area, this initiative involves creating management plans and securing future grants to enhance the area’s historical and architectural value. |
| Preston Road Housing Regeneration | £55 million | Part of Hull’s 15-year housing improvement strategy, this project will deliver modern, energy-efficient homes to East Hull, enhancing the quality of housing and supporting community growth. |
| Orchard Park Regeneration | £156 million | A significant housing project to construct high-quality, energy-efficient homes on Danepark Road. This development aims to address local housing needs, with all units available exclusively for council rental. |
Initiate a powerful sequence of your property growth and reinvestment.
Initiate a powerful sequence of your property growth and reinvestment.
