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A Brief History of Preston
Preston is a bit of a hidden gem when it comes to history. Most folks don’t know this, but Preston was a major player during the Industrial Revolution—think cotton mills, railway lines, the whole works.
It started as a small market town, but with the industrial boom, it transformed almost overnight into a bustling centre. And what’s amazing is that you can still see echoes of that era in the Victorian and Edwardian houses around town, especially near the city centre.
I know investors who absolutely love restoring these older properties, blending those beautiful period features with modern comforts. That combination of old and new gives Preston this character that’s hard to find elsewhere.
And let’s not forget, it’s not all history—Preston’s been on a growth path with revitalised areas, green spaces, and modern amenities. The city is very profitable in part because it has a unique mix of old and new buildings.
Preston and its surrounding areas, such as Walton-le-Dale, offer a unique mix of historical charm and modern conveniences. With its Edwardian houses range and lush green spaces like Miller Park, the area combines period elegance with recreational opportunities.
What Makes the Preston Real Estate Market Worth Investing in?
People are becoming more interested in Preston’s real estate market, and for good reason. It has a lot to offer, such as low starting costs, strong rental demand, and the chance to make a lot of money. Here’s what makes it tick:
Strong Rental Demand
Preston has a pretty solid rental market, especially thanks to UCLan (University of Central Lancashire), which brings in tens of thousands of students each year. That’s a built-in tenant base looking for studio flats, shared houses, and affordable apartments.
We know landlords who have properties near UCLan that are rented out year-round, which speaks volumes about demand. The city’s population recently topped 147,000, and with young working professionals and students adding to that, finding renters here is usually straightforward.
Affordable Entry Prices Compared to Nearby Cities
The really interesting thing is that home prices in Preston are a lot lower than in nearby towns like Liverpool and Manchester. In Manchester, the average price of a house is more than £250,000. In Preston, the average price is about £150,000.
Source : Office for National Statistics
That difference means investors can get in with less capital and still enjoy strong rental returns. Whether it’s your first property or you’re expanding your portfolio, Preston’s pricing is incredibly attractive.
The increasing number of buyers and renters in Preston reflects the good value properties available in the area. Compared to nearby cities, Preston offers affordable entry points with strong rental yields. Making it a hotspot for investors and a great place for families and young professionals seeking quality investment at reasonable prices.
High Rental Yields and Potential for Appreciation
The returns here are no joke. In places like Ashton-on-Ribble and Fulwood, rental yields hover around 7–8%, which is a solid figure for buy-to-let investors. We’ve had clients at Flambard Williams who invested in Preston properties and were able to see returns quickly because of those high yields.
The city’s property prices are also looking good because more infrastructure projects are being built. Preston is a great choice because it strikes a good balance between present returns and growth in the future.
Growing Infrastructure and Development Projects
Preston’s on the rise, with major investments pouring into local infrastructure. The “City Deal” is set to pump around £434 million into transport, new roads, and city centre developments.
Proactive local authorities are playing a key role in revitalising the Preston area, with numerous infrastructure and development projects underway. These initiatives are making Preston an even greater place to live and invest, while enhancing the city’s long-term appeal for residents and investors alike.
All this work is aimed at making Preston more accessible and attractive, which, as we know, only boosts property values in the long run. I always tell investors to keep an eye on these projects—it’s like a forecast of future appreciation. When an area is being improved, it’s usually a sign that property demand and values are heading up.
Appeal for Investors and Homeowners Alike
Preston’s one of those places that offers something for everyone. People appreciate the good schools and green spaces, like Avenham and Miller Parks, while working professionals love the affordable living and easy access to nearby major cities. Preston offers proximity to employment hubs like South Ribble, making it ideal for professionals seeking job opportunities without the high cost of living found in nearby cities.
There’s a strong community feel here, too, which is rare to find in more densely packed areas. Whether you’re looking for long-term tenants or even planning to live in the property yourself down the line, Preston’s range of housing—from Victorian terraces to modern apartments—offers flexibility.
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Best Neighbourhoods to Live in Preston
Ashton-on-Ribble
Ashton-on-Ribble is one of those places that really blends old-school charm with the convenience of being close to Preston’s central area. I’ve seen many investors drawn here for its affordability and appeal to a variety of tenants—from students and working professionals to families.
Property prices in Ashton-on-Ribble hover around £130,000 to £150,000 for a terraced property, and rental yields can be in the 6–7% range, which isn’t bad at all.
Living near the River Ribble gives you access to beautiful parks where people exercise or walk quietly. A great water stroll along the Ribble nearby encourages outside time.
Plus, with the Guild Wheel cycle route running through, there’s plenty to do right on your doorstep. Ashton offers a balanced lifestyle for those wanting easy access to city amenities without being right in the heart of the bustle.
Farringdon Park
Farringdon Park is one of those “under-the-radar” spots that’s gaining popularity, especially among first-time investors and families. Real estate prices here are quite reasonable, often around £120,000–£140,000 for a terraced house, which makes it a budget-friendly choice.
Rental yields are in the 6–8% range, thanks to demand from families and young professionals. It’s a quieter residential area with a strong community feel, something that’s a big draw for families.
The area is also appealing because it is close to schools, parks, and other services. This makes it a great choice for owners who want to rent to people who want to live in the suburbs. The city centre is also close by, so people who live there get the best of both worlds: a quiet place to live and quick entry to the city.
Ribbleton
Ribbleton is one of the most affordable neighbourhoods in Preston, ideal for investors looking for a lower entry point. You can find terraced houses and semi-detached homes here with an average house price of around £100,000–£120,000, which is a bargain compared to many other areas.
Ribbleton has strong renting yields, usually between 7 and 9%. This is because there is a lot of demand for cheap housing, especially among students and working professionals. Ribbleton is appealing because it is cheap and close to the city’s heart (a short bus ride).
The neighbourhood also has access to parks and green places, which makes it a good choice for people who want to live somewhere convenient and affordable.
Fulwood
Fulwood is one of Preston’s most desirable and affluent areas, known for its huge detached houses, high-quality schools, and family-friendly environment. It’s particularly popular with families and professionals, offering a suburban feel while still being close to city amenities.
House prices here tend to be higher, with an average of around £200,000–£250,000, but the demand is steady. Rental yields are a bit lower, usually in the 5–6% range, due to the higher prices, but it’s a very stable investment.
It’s got well-rated schools, good shops, and a nice suburban feel, plus it’s close to Royal Preston Hospital, which attracts healthcare professionals. Fulwood’s for those who want a dependable property in a reputable area, even if it requires a bit more upfront.
Guildhall Gardens is one of Preston’s most popular new projects, located just 2-3 miles from these above-mentioned neighbourhoods, including Ashton-on-Ribble, Farringdon Park, Ribbleton, and Fulwood.
Living here provides you with the best of both worlds: riverside walks and outdoor enjoyment in Ashton, a cosy community vibe in Farringdon, affordable options in Ribbleton, and great schools and suburban charm in Fulwood.
It’s an excellent location for those wishing to invest or settle in one of Preston’s most promising neighbourhoods.
Barton
Barton is a semi-rural area north of Preston, ideal for those who want countryside charm without sacrificing accessibility. House prices in Barton are generally higher, averaging around £230,000–£300,000 for detached houses, which is typical of its more rural setting.
Rental yields here tend to be around 5–6%, which may not be as high as in city-centre areas, but it’s a stable market with a lot of long-term potential.
What makes Barton unique is its peaceful, scenic environment combined with easy access to Preston city centre. It’s particularly popular with families who are after a quieter lifestyle with good schools and green spaces.
This location appeals to investors seeking quality of life over quick returns, making it an attractive option for those looking at long-term investment.
Angel Gardens is located in an up-and-coming district of Liverpool. It is in close proximity to two major regeneration projects: the £150 million Project Jennifer and the £5.1 billion Liverpool Waters scheme.
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Penwortham
Penwortham is one of those places that has a strong sense of community, parks, and easy access to the city centre. Most homes in Penwortham cost between £170,000 and £210,000, and renting yields are between 5 and 7%.
Penwortham is loved by many because it has good schools, nice views of the river, and easy access to the Capitol Centre for shopping and fun things to do.
Those looking for a quiet neighbourhood, but still want to be near city life move to Penwortham, which has a lot of parks and views of the river. The area’s ongoing popularity makes it an appealing choice for both investors and homeowners.
Cottam
This is an up-and-coming area with a lot of modern housing developments, making it particularly appealing to young families and professionals. Properties here tend to be newer builds, with average prices around £180,000–£220,000, and rental yields of around 6–7%. Cottam’s draw is its modern infrastructure, and community parks.
The location has seen steady development over recent years, with schools, shops, and amenities adding to its attraction. Cottam is perfect for those wanting a fresh, modern living environment without venturing too far from Preston’s city amenities.
Broughton
Broughton is a village-like area just a stone’s throw from Preston city centre, ideal for those looking for a quieter lifestyle. Property prices in Broughton are around £200,000–£250,000, with rental yields of about 5–6%. Its appeal lies in the quality of life it offers, with excellent schools, a strong sense of community, and a relaxed, semi-rural environment.
With good transport links to both Preston and further afield via the M6, Broughton is a prime choice for working professionals. It’s a nice place where you can enjoy the charm of village life while still being connected to the city.
Ingol
Ingol offers budget-friendly housing options, often priced around £120,000–£150,000, making it attractive to first-time investors. The rental yields here are generally around 6–8%, especially for terraced properties, due to steady demand from young professionals.
With good bus links to the centre and plenty of local amenities, Ingol is convenient without being high-end. It’s a practical choice if you’re after something affordable with a decent yield, especially if you’re catering to young professionals and families.
Lea
Lea is a scenic, riverside neighbourhood that offers a peaceful setting close to Preston’s city centre. Housing prices in Lea average around £180,000–£220,000, with rental yields around 6–7%.
Lea’s charm is its semi-rural atmosphere with access to outdoor leisure activities along the River Ribble, making it a great spot for families and retirees. For investors, it’s a stable choice if you’re after long-term tenants who appreciate the quieter life.
Tips on Selecting the Right Neighbourhood in Preston for You
To choose the best place to live and invest, you need to weigh your wants against what each area has to offer. There are cheaper prices and good rental returns in areas like Ribbleton and Ingol if you want to find them.
Long-term tenants often prefer areas with good schools and green spaces, such as Fulwood or Penwortham. For those interested in long-term appreciation and quality tenants, semi-rural areas like Broughton and Barton provide a quieter lifestyle with stable value growth.
Think about the tenants you want. Students and young working professionals often prefer areas like Ashton-on-Ribble for their convenience, while families might prefer places with good schools and green spaces.
And if you’re new to investing, start in areas with a mix of affordability and tenant demand, so you’ve got flexibility as you get the hang of things.
The best places to invest in Preston often include areas in Preston city, which boast excellent connectivity and amenities. Attractions like Bamber Bridge and the Odeon Cinema add to the city’s vibrancy, drawing young professionals and families alike.
FAQs
Definitely! Preston’s got this unique mix of city perks and a close-knit feel. It’s smaller than Manchester or Liverpool, so you don’t get the rush and high prices, but you still have all the essentials—shopping, good food spots, and a fair bit of nightlife if that’s your thing. Families and young working professionals alike seem to love it, with plenty of green spaces like Avenham Park for walks and picnics, plus great local amenities. It’s also easy to get to bigger towns when you need them, but day-to-day, you can enjoy a relaxed vibe without the big-city prices.
Absolutely, and here’s why: it’s affordable, in high demand, and backed by a solid rental market. Many investors are drawn here because the house prices are much lower than in nearby cities like Manchester, but rental demand is high thanks to the University of Central Lancashire (UCLan), which attracts students looking for flats and shared accommodation. Also, Preston’s “City Deal” plans to build new roads, public transport, and community facilities will cost a lot of money. This generally causes property values to rise over time. Preston has a lot of promise, whether you want to rent out your home and make money or invest and see your money grow.
If you’re buying in Preston, you’re in luck—prices here are pretty reasonable. A one-bedroom flat in the central location might set you back around £90,000 to £110,000, and prices drop slightly as you move into suburban areas. Of course, if you’re after something a bit fancier or in a sought-after area like Fulwood, prices can go a bit higher. Compared to the wider North West, though, Preston property market is still on the affordable side, which makes it a great spot for both investors and first-time investors.
Rental demand here is steady and strong. UCLan brings in thousands of students each year, and many are looking to rent close to campus or in places like Ashton-on-Ribble. Plus, with more young professionals moving here, it’s not just about student rentals. Preston’s lower living costs make it an attractive alternative to larger cities, so properties close to transport and city amenities tend to get snapped up. Many landlords find they can keep vacancy rates low with little effort—always a bonus in the buy-to-let game!
Yes, there are several highly-rated schools here, especially in family-friendly areas like Fulwood, Penwortham, and Broughton. These spots are really popular with parents because they combine nice schools with parks and other family-friendly amenities. When families find an area with quality schools, they tend to stick around, which means stable, long-term tenants for investors. Good schools are always a property boost since they attract those looking to settle down, so if you’re looking at long-term investment, that’s a definite plus in Preston.
Conclusion
Preston has a lot more to offer than meets the eye. It has a strong rental market, low starting costs, and a sense of community. The city is a good place to live and work. The Preston real estate market is both cheap and full of opportunities, whether you’re looking for steady rental returns near the university or a quiet neighbourhood that’s great for families.
As the city grows and development projects bring new amenities and infrastructure, the future for Preston looks bright. It’s a city that combines opportunity with quality of life—a rare balance for investors and residents alike. Now’s a great time to explore what Preston has to offer, whether you’re looking for a reliable income property or a place to call home.
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