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Harrogate Buy-to-Let Guide

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    Everything You Need to Know About Harrogate Buy-to-Let

    The picturesque town of Harrogate, nestled amidst the stunning landscapes of North Yorkshire, offers a blend of historic charm and a vibrant culture.

    But is it an attractive destination for those looking to invest in rental properties?

    If you’re considering entering this market or expanding your portfolio, here’s everything you need to know about buying a buy-to-let property in Harrogate.

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      Buy-to-Let Property Prices in Harrogate

      According to Rightmove, the average price of a property sold in Harrogate over the last year was £410,513.

      This is much more expensive than the average for the UK, which is £284,691, as stated by the UK House Price Index.

      Sold prices in Harrogate over the last year were 3% up on the previous year and 8% higher than in 2021, so it’s clear that house prices in Harrogate are on the rise.

      But is this trend set to continue?

      Property experts Savills estimates that capital value is set to increase by 20.2% in the Yorkshire and Humber region in the next five years to 2028 – one of the highest predictions in the UK.

      Learn More: Wondering if UK buy-to-let is worth it? Our updated market insights cover everything from the latest buy-to-let costs and the best areas for UK buy-to-let!

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      Buy-to-Let Rental Market in Harrogate

      According to housesforsaletorent.co.uk, the average monthly rent in Harrogate is £1,286 PCM, which is slightly more expensive than the UK average rent of £1,262 PCM, per the latest HomeLet Rental Index.

      The rental market in Harrogate is buoyant, driven by a diverse demographic mix and a solid local economy. The town’s popularity as a tourist destination, coupled with its proximity to major cities like Leeds and York, could ensure a steady demand for rental properties throughout the year.

      Factors such as property location, condition, and amenities provided can influence rental values. One-bedroom apartments, two-bedroom terraces, and family homes are among the most sought-after properties in Harrogate’s rental market.

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      Investment Properties for Sale in Harrogate

      For investors looking to capitalise on the opportunities offered by the Harrogate buy-to-let market, a range of investment properties is available for sale – from quaint Victorian terraces to modern apartments with panoramic views.

      When searching for investment properties in Harrogate, consider factors such as rental potential, property condition, location, and future market trends.

      Engage with local estate agents with in-depth knowledge of the area, which can help you identify properties that align with your investment objectives.

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        Buy-to-Let Investment in Harrogate: Area Breakdown

        Distinguished by its Two Hundred Acre Stray – an expansive parkland situated right in the town centre, and its spa town heritage, Harrogate offers refined living with a distinctive Yorkshire charm.

        A quintessential family town boasting excellent schools and a plethora of sporting and social activities, Harrogate is a mere 35-minute drive or train journey away from Leeds. Leeds Bradford Airport, offering an extensive range of European flights (including to Heathrow), is a 20-30 minute drive.

        The Duchy Estate, situated just north of the town centre, is Harrogate’s most coveted address – although its premium homes are rarely available for sale. The southern suburbs, often called the ‘favoured south side’ by estate agents, such as Oatlands and Wheatlands, predominantly feature 20s/30s stone family houses. They are particularly attractive to commuters owing to the nearby rail halt at Hornbeam Park and their proximity to esteemed education centres, such as Harrogate College.

        For a more village-like ambience, investors could consider Pannal to the west, with stations on the Leeds-York railway line.

        The Duchy Estate

        Average Property Prices in the Duchy Estate

        The average property price in this area is £1,658,333.

        Average Rental Yield in the Duchy Estate

        The average rental yield in this area is 0.81%.

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          Average Property Prices in Oatlands

          The average property price in this area is £517,386.

          Average Rental Yield in the Oatlands

          The average rental yield in this area is 2.62%.

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          Average Property Prices in Wheatlands

          The average property price in this area is £560,000.

          Average Rental Yield in the Wheatlands

          The average rental yield in this area is 2.41%.

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            Average Property Prices in Pannal

            The average property price in this area is £697,876.

            Average Rental Yield in the Pannal

            The average rental yield in this area is 2.17%.

            (Average property prices taken were from Rightmove in early 2024; rental yield estimates were calculated with figures from housesforsaletorent.co.uk in the same period)

            What is the Best Area of Harrogate to Invest in?

            Compared to the average buy-to-let property for sale in the UK, properties in Harrogate are notably more expensive. Some areas can offer a decent rental yield thanks to the high rent that comes with such an in-demand area.

            The property price tags in The Duchy Estate are the most sizable, leading to a low gross rental yield. A buy-to-let property within the southern suburbs would be most advantageous, and with thorough research, it may be possible to see some return on investment.

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            Why You Should Consider a Buy-to-Let Investment in Harrogate


            Several regeneration projects are ongoing or on the cards in Harrogate and surrounding areas.

            Looking at regeneration projects is one way an investor can gauge the potential demand for an area in the near future. Doing this means investors can get involved when property prices are lower, capitalising on increased property value and enhanced rental income later on as demand rises and the area undergoes revitalisation.

            The Transforming Cities Fund, for example, is a programme aimed at communities across Harrogate, Wakefield, and York to enhance bus and rail stations, cycling and walking infrastructure, and introduce new Park and Ride facilities.

            Plans for Harrogate Town Centre include improvements to rail and bus station access for people travelling on foot, as well as new cycling and walking routes, which will improve access across and within the town centre and the north of Harrogate, as well as better connecting people to healthcare, employment and new housing developments.

            Initiatives such as these are expected to improve infrastructure and contribute to Harrogate’s overall attractiveness and livability, potentially increasing property demand and investment opportunities for buy-to-let investors in the coming years.

            Transport Links

            As previously mentioned, Harrogate boasts excellent transportation links throughout North Yorkshire, with easy access to the A1(M) and Leeds just a 35-minute drive away.

            Furthermore, you can reach the Yorkshire coast in just over an hour, and the Yorkshire Dales – specifically Nidderdale – are practically on the doorstep.

            Harrogate Train Station provides direct services to London in just over 2 hours, while Northern services offer quick connections, with journeys from Leeds to Harrogate taking 32 minutes, from York to Harrogate taking 34 minutes, and from Knaresborough to Harrogate taking only 9 minutes.

            Therefore, the area provides an appealing living environment for those seeking green spaces without significantly compromising the conveniences of urban life.

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            Housing Development

            Harrogate New-Builds

            Investing in newly constructed properties is a growing trend in the UK real estate market, attracting the attention of both tenants and landlords alike. With these properties being recently built, there is minimal need for renovation before they are ready for the market. This results in quicker occupancy for tenants and a faster turnaround on rental returns for investors.

            As demand consistently exceeds supply, the need for new housing opportunities has become increasingly pronounced. In response, the Harrogate District Local Plan 2014 – 2035 has intensified new housing development in the region. This effort aims to ensure every resident has access to a decent, affordable, energy-efficient home. The council is collaborating with various organisations to expand sustainable housing provision.

            Given the current market dynamics, choosing new-build properties could prove advantageous for investors in the years ahead.

            While Harrogate offers some new-build investment opportunities, larger urban cities such as new-builds in Liverpool and Manchester may offer broader investment prospects and potentially higher capital appreciation.

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              Off plan

              Off-Plan Property in Harrogate

              Although the benefits of investing in new-build properties are evident, they often come with a higher price tag than older residential properties.

              Off-plan property investment presents a solution for accessing new builds at a more affordable price. Investors who opt for off-plan commit to a property before its completion, typically securing it at a discounted rate compared to standard market prices.

              Early engagement can lead to significant capital appreciation with a lower initial investment, as the value naturally rises nearing the completion of the off-plan property.

              Like most new-build investments, particularly in high-demand locations, off-plan properties demonstrate strong rental demand, potentially offering solid long-term yields.

              Learn More: Explore this investment trend further with our recent buy-to-let guides, covering everything from off-plan property in Islington to the latest UK hotspots!

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              How Does Harrogate Compare to Other UK Regions When It Comes to Buy-to-Let?

              Harrogate is a popular area with a range of property types on offer. However, prices in this region vastly outweigh the national average and could be a barrier for many buy-to-let investors. Gross rental yields are also estimated to be subpar, which could greatly impact overall profitability.

              Achieving higher yields in other investment hotspots is possible without sacrificing affordability.

              For example, buy-to-let properties in Manchester and Liverpool often see below-average property prices and yields that exceed 8%, depending on where you look.

              The forecasted capital appreciation in Yorkshire and the Humber makes it appealing for buy-to-let investors aiming to sell their property for substantial gains. However, there is no need to limit investment solely to this region. Savills suggests that other areas, such as the North West, are also expected to undergo similar growth.

              Further Reading: Delve deeper into North West investment with our free guide to investment property available in Birkenhead.

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                Want to Invest in Harrogate?

                So, is Harrogate the best place to invest in property?

                A region of such historical significance can sometimes attract high rental demand and substantial rental income, with the potential for solid yields in the long term.

                However, the reality is that expensive property poses a significant barrier for many investors. Investing in Harrogate may not be worthwhile compared to other major cities in the North.

                These cities boast high rental demand, more affordable property prices, and better rental yields, alongside similar optimistic forecasts for capital growth as the Yorkshire region.

                Want to know more about the rest of the UK market? Check out some of our recent buy-to-let guides below:

                Map of Harrogate

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                Reece Pape

                Reece Pape is a property writer at RWinvest. Utilising up-to-date property statistics and data, Reece aims to keep investors informed on the latest market developments.

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