Table of Contents
Why To Invest In Hull
Criterion House stands as a prime example of property investment potential in East Yorkshire, offering energy-efficient bedroom homes that are ideally situated with easy access to key amenities and supported by detailed map data for location analysis.
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. |
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Steps Every Investor Needs to Follow Before Investing
Investing in property can be an exciting yet challenging journey. To navigate it successfully there are a few essential steps our team of property experts always suggest to investors.
Do Your Own Research on the Preferred Location
Location is everything in property investment. Hull has been catching the eye of investors in recent years. Particularly areas near the city centre or key sites like Humber Bridge Country Park.
But here is the thing. Not every area fits every investment strategy. Some locations are perfect for attracting tenants due to easy access to transport links.
When I started studying the developments in Hull then I would spend hours digging into local data. This includes the average house prices plus rental yields and future regeneration plans.
I would suggest always making it a point to visit sites. With this you can check how close they were to schools plus health centres and many attractions. Trust me seeing a location for yourself can reveal insights you would never get from just reading online.
Search for a Good Estate Agent
Having the right estate agent on your team can save you a lot of headaches. When exploring new homes I always recommend finding an agent who knows the market inside out. Look for someone who has worked with investors before. They should also understand your priorities.
A great agent can also give you the inside scoop on areas you might not have considered. Like they can provide you with a unique list of emerging neighbourhoods near East Riding.
It is worth spending time finding someone who feels like a real partner. This will bring excitement and clarity to your investment journey.
Understanding Your Potential ROI
Before putting down a deposit we recommend our clients to always crunch the numbers. ROI is not just a fancy term. It is the key to knowing whether a property is worth your money.
With Hull’s competitive property prices and rental market growth many developments offer attractive returns. But you still need to calculate everything.
For example here are your ROI details if you invest 145000 in Hull for 15 years.
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Also remember to account for maintenance costs plus taxes and any mortgage interest. Missing out on these details can make a great deal look less appealing once the numbers are in.
Understanding the Risks and How to Mitigate Them
The bitter truth of property investment is that it can be risky. There can be delays or any legal problems while the project is developed.
I have seen many investors who end up getting huge losses and lowest rental yield just because they are irresponsible. To mitigate this you should always research the developer’s track record.
Look for developments they have completed before and speak to other investors if possible. Another risk is market fluctuations. Hull’s property market has shown steady growth but no market is immune to dips. So go ahead and keep a buffer fund in case of unexpected vacancies or repairs.
The third one is checking the legal and financial updates. From confirming planning permissions for new developments to understanding the terms of your mortgage. Do not skip this part.
You need to check specifics like energy efficiency ratings and transport connections. This will decide whether your property will stand out of the crowd or will be a part of the crowd.
Top High-Yielding Off Plan Property In Hull
The Merchant, Hull
The property highlights a new modern standard for residential accommodation. It is located in the heart of the Hull city centre. With modern living spaces the project also aims to provide high quality properties.
The Merchant is a level up to meet the growing demand for urban housing in Hull. Being centrally located the property is ideal for urban living and accessibility to city amenities.
It serves as a lucrative opportunity for investors. That too especially for those who are invested in Hull’s property market.
£776 pcm
£128,103
£112,730
8.3%
25%
Q3 2024
12%
- Each unit is thoughtfully designed to deliver strong rental returns. This makes it an appealing option for investors focused on rental income.
- The Merchant comprises 29 stylish one- and two-bedroom apartments.
- This striking property conversion enhances Hull’s skyline and sets a new standard for residential living in the city.
- Tenants enjoy a prime location. The property is just moments from key amenities and attractions such as –
- Riverfront
- shopping centres
- Bars
- restaurants and cafes.
- The area boasts a wealth of cultural landmarks, including
- the Maritime Museum
- The Deep Aquarium
- The Ferens Art Gallery.
- Hull Station is only a five-minute walk from The Merchant. It provides seamless rail connections to destinations across the UK.
Other Premium Off Plan Properties In The UK
City Gate
Located just 39 miles away from Hull this property is a heaven. City Gate is tailored for investors and residents who value a blend of contemporary living. That too who love to have a culturally rich environment.
Most appealing is its unique blend of modern residential amenities and historic charm. It is one of the most desirable options for short term rentals. The property presents a comfortable living solution along with an excess to investment opportunity.
£3,253 pcm
£329,365
£319,475
12.22%
20%
250 years
3%
- City Gate offers attractive yields especially suited for short-term lets.
- It consists of 62 apartment units across five storeys. All units are blended with dark brick, light brick, and hardwood cladding.
- Balconies and tall windows ensure ample natural light.
- The property also includes-
- A5-star lobby
- Concierge service
- Private gardens
- Secure parking.
- High-standard living spaces and bedrooms.
- Bathrooms feature Italian tiles and top-range sanitaryware.
- Select fourth-floor apartments that have terraces.
- Premium gym with cardio and strength equipment.
Berkeley Square
The property is designed to offer convenient city living with an amazing waterfront setting. Creating a modern residential experience within one of the UK’s most dynamic cities is the aim of this project..
It caters to both investors and residents. Particularly to those who are looking for high quality urban housing options.
£1,065 pcm
£2,13,000
£2,02,350
6%
25%
250 years
£5,000
- Located within 84 miles from Hull the property offers easy access to city amenities.
- Promises attractive yield rates, making it a valuable option for property investors.
- Initial reservation fee is set at £5,000, with special discounts on select two and three-bedroom units.
- Options available for both cash and mortgage purchases, with tailored income projections for passive income seekers.
Guildhall Gardens
Guildhall Gardens is a newly built development. The property is 96 miles away from Hull. If you look towards the ongoing urban growth then this property ranks contributes heavily.
These aim to meet the rising demand for quality housing. The property is ideal for investors aiming for returns in a dynamic market.
£766 pcm
£1,18,450
£1,14,896
8%
20%
250 years
3%
- Located in the trendy market area Guildhall Gardens is 96 miles away from Hull.
- Offers appealing yields, with structured returns for investors.
- Designed to attract a wide range of investors with accessible entry points.
- The high-quality residential conversion is in the affluent Winckley Square Conservation area in the PR1 postcode district.
- The site will provide 32 one bedroom apartments, and 3 two bedroom apartments.
- Guildhall Gardens will address the current shortfall of available rental properties in Preston and offer an extremely prosperous investment opportunity.
Conclusion
Investing in off plan properties in Hull presents an exciting opportunity for savvy property investors. It has a perfect blend of competitive property prices plus strong rental yields and ongoing regeneration projects.
Hull stands out as a vibrant city offering both immediate and long-term benefits. This UK city has proven itself as a dynamic market for those aiming to generate passive income plus build a portfolio and secure long term growth.
As an investor your preparation is key.
Hull is more than a location it is a city undergoing a transformation. That too with new developments and improved facilities reshaping its landscape.
You can opt for investing in a one-bedroom apartment in the city centre or a four-bedroom home on the outskirts, Hull’s diverse range of properties offers opportunities for growth in recent years and beyond.
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