Kingston Upon Hull Buy-to-Let 2023 Guide

Property prices are generally much lower in the North when compared to London and the rest of the South of England, and Hull is no exception to this rule.

According to Rightmove, properties in Kingston upon Hull had an average price of £157,356 over the last year. This is up 2% on the previous year and up 4% on 2020. This is much more affordable than the UK average of £261,500, as calculated by Zoopa for the July 2023 UK House Price Index.

House price growth across the country has been sluggish this year, but forecasts predict that property in Yorkshire and Humber is set to rise in value by 11.7% by 2027, as per Savills’ research. Slow growth may be off-putting, but it makes sense to invest now before prices increase. 

Learn more about UK house price growth in 2023 with our recent guide.

Hull City Centre is a convenient place to live with good local amenities, and there are also many well-populated suburban areas surrounding the centre, such as Kingswood and Bransholme to the north, Sutton-on-Hull to the east, and Anlaby Road in the south-west. Areas like Willerby in West Hull are more upmarket, and more expensive property can be found there.

If you want to target student investment properties, the City Centre is usually popular with those who want to be close to the action.

Student accommodation is also often found around Cottingham Road or Newland Avenue for good access to the University of Hull, just north of the City Centre.

Average Property Prices in Sutton-on-Hull (HU7)

The average property price in HU7 is £165,099.

Average Rental Yield in Sutton-on-Hull (HU7)

The average rental yield in HU7 is 4.08%.

Regeneration and Investment

Hull has been on a regeneration mission since the 1980s when they built Prince’s Quay and opened the Hull Marina. Since then, Kingston upon Hull was awarded UK City of Culture in 2017, kickstarting a drive to transform the area completely. There has been a wealth of investment in recent years to improve Hull’s condition, and many schemes and projects are ongoing or proposed for the future.

For example, the UK government has Hull’s city centre in their sights for the ‘Levelling Up’ initiative. Hull City Council were awarded £19.5 million, and the projects will focus on Whitefriargate and Albion Square. Other parts of Hull are also set to benefit from regeneration as Hull City Council are targeting several areas such as Ings and the Beverley Road Townscape.

Promisingly, Hull’s recently completed projects are already having the desired effect on the local community and economy. The area around Humber Street and the Fruit Market had fallen into nearly complete dereliction, but thanks to a transformative regeneration project, it’s now known as a creative and commercial community with independent businesses and new homes built. 

Read our guide to Liverpool regeneration projects for the latest sustainability insights.

Sustainability and Environment

According to the University of Hull, Humber is the UK’s worst carbon polluter due to the area’s industry being primarily based in energy-intensive sectors. However, Hull is ambitious about its environmental future, aiming to go completely carbon neutral by 2030, 20 years earlier than the UK government’s net zero target of 2050.

Hull is already a leading location for the offshore wind energy industry, and the city’s carbon-neutral strategy contains plans to start generating much of Hull’s energy locally from renewable sources. Transport infrastructure will be overhauled to make walking and cycling the easiest options, and tree-planting projects will help neutralise unavoidable emissions.

The city also boasts one hundred parks for eco-conscious renters to enjoy, such as the historic Pearson Park and East Park, the largest one in Hull.

This forward-thinking attitude to sustainability and Hull’s extensive and ambitious regeneration shows Hull is serious about improving its liveability, and this could point to capital growth and continued high rental demand in the future.