Why Invest In Sunderland Property?
Estimated reading time 4 minutes
Thinking about investing in a buy-to-let property? Then Sunderland should definitely be on your radar. The northern port city is home to some of the lowest priced properties in the country, which makes it an attractive investment opportunity.
But if you don’t know much about Sunderland, you might feel some hesitation. Are the property prices too good to be true? Is there a hidden catch that could undermine your investment? Here are some things you should consider:
A city reinventing itself
The ancient city of Sunderland — it was established all the way back in the 7th century! — has been famous for many things in its time. It’s been known for its salt trade, its coal mining, and, throughout the 19th century, its shipbuilding. As a port city, it was valuable as a trading port, and at one point it was known as the greatest shipbuilding port in the world.
Unfortunately, during the 1980s, both its shipbuilding and its coal mining industries collapsed. Like many northern industrial towns, Sunderland suffered economically during this time.
Today, though, Sunderland is at the forefront of new industry. The Sunderland Software City project brought significant investment into the city in the name of creating a tech sector in the northeast of England, while the UK Shared Prosperity Fund has so far seen more than £13 million invested in 27 different projects across the city. These investments are ongoing, with both Sunderland City Council and the University of Sunderland supporting improvement projects in the city.
There’s a real sense of possibility here, and a real will to make Sunderland a hub of innovation in the region — which is also the kind of thing that tends to make property values rise.
A healthy rental market
Property prices across the country might be fluctuating, but the price of renting a home hasn’t wavered — and rental prices look set to rise even further.
The northeast is known for being one of the highest-yield regions in the country, with Sunderland in particular offering rental yields of 7.16%. (If you have yet to dabble in the world of buy-to-let property, anything above 6% yield is considered to be very good!)
Landlords renting their properties to students could do especially well, with the University of Sunderland bringing in around 9,000 students every year. And as Sunderland continues to build its reputation as a great place to live and work, demand for rental properties looks likely to continue.
Sunderland ‘til I die
Another thing worth knowing about Sunderland is that its residents are passionate about their city — especially their football team. In fact, that sense of civic pride felt by Mackems often seems directly linked to the fortunes of Sunderland AFC.
The Black Cats have had a pretty tough few years, to the point that Netflix even commissioned a fly-on-the-wall documentary series (also called Sunderland ‘Til I Die) about the club. Happily, Sunderland is currently back in the Championship League, and with a new manager recently hired, may soon have its sights set on the Premier League once again.
Sell your property to us
Thinking about investing in Sunderland property? If you’ve got property to sell elsewhere first, you should give us a call. At SellHouseFast.co.uk, we’re specialist cash house buyers, and we buy any house.
Forget all the stress of listing with estate agents and arranging viewings, waiting months for updates and crossing your fingers that your buyers don’t fail affordability tests or change their minds. When you sell to us, you get a guaranteed cash offer, and a streamlined process that could get money in your bank within a week.
Why not get in touch and see what we could do for you?
