Table of Contents
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.
Initiate a powerful sequence of your property growth and reinvestment.
Initiate a powerful sequence of your property growth and reinvestment.
Unleash how successful investors build wealth, reduce financial stress, and achieve financial freedom.
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.
