5 Reasons to invest in property in Sunderland
Are you looking to invest in property in Sunderland?
Sunderland is a city located in the North East of England. The city has a population of 277,733 (2019) people and is growing at a rate of 0.6% per year. The average house price in Sunderland is £155,952, which is significantly lower than the UK average of £281,000. Here are 5 reasons why you should consider investing in property in Sunderland.
1. Affordable Investment property prices
As mentioned above, the average house price in Sunderland is £114,000. This is much lower than the UK average of £226,000. For investors looking for affordable properties, Sunderland is definitely worth considering.
2. Rental demand is high
There is a high demand for rental properties in Sunderland due to the city’s large student population. There is a great university in the city – the University of Sunderland – which has a total of over 24,000 students. This creates a constant demand for rental properties in the city.
What is Driving High Rental Yields in Sunderland?
There are several factors that are driving high rental yields in Sunderland. One of the most important factors is the city’s strong economy. Sunderland is home to several large companies, including Nissan, Gentoo Group, and Vantec Europe. These companies provide employment for many residents of the city. As a result, there is a high demand for rental properties in Sunderland.
3. Strong capital growth potential
Sunderland has seen strong capital growth over the past few years. So property prices in the city have increased by 4% per year on average over the past 5 years. This is higher than the UK average of 3% per year. Therefore, this indicates that there is good potential for capital growth in Sunderland.
4. High yield potential in Sunderland
The average rental yield in Sunderland is 6%. This means that for every £100,000 invested in a property, you can expect to earn £6,000 per year in rental income. This is higher than the UK average of 4%. This makes Sunderland an attractive option for investors looking for high yields.
5. Lower Property Prices in Sunderland
Although property prices in Sunderland are low compared to other areas, this is not necessarily a bad thing. In fact, for many people, it presents an opportunity to invest in a property that has the potential to increase in value over time. Also, with the right approach, you can find a property in Sunderland that will provide you with a comfortable home and a good return on your investment. So if you’re thinking about buying a property, don’t overlook Sunderland – it could be the perfect place to find your dream home.
invest in property in Sunderland: Conclusion
So, this is only five reasons why you should consider investing in property in Sunderland. If you’re looking for an affordable city with strong capital growth potential and high rental yields, then Sunderland should definitely be on your radar.”