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Lincoln Buy-to-Let 2024 Guide

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

    Lincoln is the county town of Lincolnshire and a cathedral city. Lincolnshire is a county in the East Midlands, on the east coast of England, south of Yorkshire and north of Norfolk. Lincoln is close to numerous UK cities, including Nottingham (only a 40-minute drive away) and Sheffield.

    As a prominent UK city, Lincoln will undoubtedly attract the eyes of buy-to-let investors.

    This guide will cover everything you need to know about the Lincoln property market, including property values and average rent expectations.

    We’ll also look at different Lincoln postcodes to help you understand the local buy-to-let market in more detail. In addition, we’ll see how Lincoln measures up alongside the rest of the UK for buy-to-let investing.

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    Cathedral Church of the Blessed Virgin Mary of Lincoln, commonly known as Lincoln Cathedral.

    Buy-to-Let Property Prices in Lincoln

    The average UK house price is £291,044, according to the HM Land Registry UK House Price Index.

    In comparison, Lincoln’s average property price is £183,527. This makes Lincoln 45% cheaper than the national average. As such, investors can expect to find good-value properties in the area.

    In Lincoln, you will pay the following averages depending on property type:

    • Detached: £297,886
    • Semi-detached: £201,405
    • Terraced: £152,907
    • Flat: £113,047

    The city has seen property price growth of 0.40% over the last year, double that of the UK (0.2%).

    Savills predicts the East Midlands will experience 19.6% capital growth between now and 2028, higher than the UK’s 17.9% capital growth prediction. This is good news for those interested in Leicester investment properties and other East Midlands cities, not just Lincoln.

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      Lincoln Aerial View

      Buy-to-Let Rental Market in Lincoln

      The average rental income in Lincoln is £1,070 PCM, according to the Home.co.uk Lincoln Rental Market Summary.

      A room will cost £547 PCM on average, while a flat or house will cost an average of £1,015 PCM and £1,292 PCM, respectively.

      The national average rental cost is £1,283 PCM per the Homelet Rental Index, which has grown by 9.55% over the past year.

      Meanwhile, the East Midlands region has enjoyed a similar price growth of 9.03%, giving an average rental price of £869 PCM. This makes Lincoln more expensive than the region as a whole for renters but still cheaper than the national average.

      Investors can expect rental yields of around 3.5 to 4.5%, depending on the postcode.

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      Lincoln Aerial View

      Buy-to-Let Investments in Lincoln: Area Breakdown

      Lincoln City Centre and North Lincoln

      Lincoln city centre and the central districts are popular with residents. Typically, Lincoln can be divided into the Uphill and Downhill areas.

      Uphill – as you may have guessed – is up the hill above River Witham and home to many of the city centre amenities, offices and Lincoln Cathedral. This is considered an affluent residential area. The area has many detached homes, semi-detached houses and period-style properties.

      The Downhill part of the city centre has cheaper properties and is generally a mixed area.

      Lincoln’s central areas include the likes of Newland, Lincoln Cornhill and Brayford Waterfront Quarter. The University of Lincoln is in this part of town. The city centre has enjoyed much regeneration in recent years, ushering in a new city quarter with enhanced leisure amenities. Why not take a look at the RWinvest buy to let income calculator a useful tool available to all of our readers?

      The council has other regeneration plans in the pipework, such as a £150 million regeneration plan for the Waterside North area, which will introduce new homes and leisure facilities.

      Areas in North Lincoln include:

      • Ermine
      • Ermine East
      • Ermine West
      • St. Giles
      • Welton
      • Nettleham

      Commuters can access the city centre with ease from these locations. In addition, the east of the city is also within easy reach. Investors can find good-value properties in this area, including private and social residential estates.

      Average Property Price in Lincoln City Centre and North Lincoln

      The average property price in LN2 is £242,288.

      Average Rental Yield in Lincoln City Centre and North Lincoln

      The average rental yield in LN2 is 3.80%.

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        Garden in Lincoln

        South Lincoln

        Southern Lincoln areas include:

        • Boultham Moor
        • New Boultham
        • Bracebridge
        • Bracebridge Heath
        • Bracebridge Low Fields
        • Canwick
        • Canwick Hill
        • Swanpool
        • Swallow Beck

        These areas provide access to the city centre for commuters. They also have their own amenities and road access to the broader region, thanks to the A1 and A46.

        There are plans to build an additional suburb in the southeast of the city, near the Lional Eastern bypass – it will be called the Lincoln South East Quadrant and will provide 3,500 homes, a school and a district centre. However, the plan will not be completed until 2036.

        Average Property Price in South Lincoln

        The average property price in LN4 is £261,839.

        The average property price in LN5 is £238,705.

        Average Rental Yield in South Lincoln

        The average rental yield in LN4 is 3.90%.

        The average rental yield in LN5 is 3.64%.

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          Lincoln Street View

          North Hykeham

          North Hykeham is a separate town in the North Kesteven council zone. It sits southwest of Lincoln and has its own schools, shops and transport links, including a train station that serves Lincoln, Nottingham, Newark and other towns in the region. The area is popular with tenants but significantly more expensive than Lincoln.

          Average Property Price in North Hykeham

          The average property price in North Hykeham is £246,680.

          Average Rental Yield in North Hykeham

          The average rental yield in North Hykeham is 3.95%.

          (Average property prices were taken from Rightmove in late 2023, and gross rental yield estimates were calculated with figures from housesforsaletorent.co.uk)

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

          Regeneration

          As aforementioned, Lincoln redevelopment has accelerated in the last few years. With the Lincoln South East Quadrant set to transform part of the city, buy-to-let investors can look forward to the area becoming a more desirable place to live. The scheme will introduce over 3000 new homes and bring in new business possibilities that will attract potential employees looking for work and, consequently, somewhere to live.

          University of Lincoln

          Lincoln is a university city, which means buy-to-let investors may enjoy success in the private student accommodation sector. The University of Lincoln is ranked in the world’s top 150 universities according to the Times Higher Education’s Young University Rankings. The university has around 15,000 students. The university campus has helped regenerate the Brayford Pool area, the top spot for student rental properties.

          Historical and Happy City in a Good Location for Business

          The city of Lincoln is a beautiful place to live with plenty of historical significance. As such, it attracts tenants who want to enjoy city life but with a touch of the traditional. Lincoln has been declared one of the happiest cities in the UK, which goes a long way in appealing to people to live in the area.

          In addition, the East Midlands is an area that typically attracts a lot of businesses that need to access other parts of the UK. Siemens is one of the biggest businesses in the Lincoln area, employing 1,500 people.  So is buying a new build a good investment in 2024? And is the property market in Liverpool booming?  Find out with our useful property investment news and guides.

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            Lincoln New-Builds

            Due to the high demand for newly available properties, new-builds in Lincoln are being delivered by both the local council and private developers.

            As part of the City of Lincoln Council’s Vision 2025 strategic plan, they started a new-build council house programme in 2021. Through regeneration and the development of key housing sites, the town may become a more attractive location for private developers and buy-to-let property investors as the area becomes more popular as a place of residence.

            In particular, it seems that houses are more common as new-build developments in Lincoln, so investors looking for new-build apartment buildings may have more luck exploring other nearby areas. This could include new-builds in Bolton or more major cities like Birmingham.

            eco-invest

            Off-Plan Property in Lincoln

            Investors interested in new-build properties in Lincoln may also find it worthwhile to explore off-plan investment opportunities. Investing off-plan means investing in a property while it is still in the planning or construction phase of the development.

            This is one way to get a good deal on a new-build property, which tends to be more expensive than older properties but more in demand from tenants. Off-plan investors can often spread out the cost through flexible payment plans, allowing for a more affordable investment.

            There may be some scope for investing through this strategy in Lincoln, but it may be more complicated than in other areas. In this case, exploring major cities like Manchester and Liverpool for off-plan investment options may be more fruitful.

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

              Regarding property investment, Lincoln’s prices are good value, especially considering the city’s decent reputation for happiness and advantageous position in the middle of the country.

              However, while the city has reasonable property valuations compared to many other places in the UK – it is much cheaper than buy-to-let properties for sale in London, for instance – investors can find properties that are a similar price elsewhere with much more attractive rental yields.

              Recently, North West cities have gained a reputation as one of the best buy-to-let locations in the UK. Take Liverpool, for example. This North West city has an average property price of £180,268, but rental yields can exceed 7% in some postcodes. In addition, Liverpool also appeals to residents in the same way as Lincoln, boasting a rich cultural heritage, beautiful architecture and top-class student living, making property investment in Liverpool a top choice.

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              Want to Invest in Lincoln?

              If you want to invest in Lincoln, expect reasonable property prices but meagre rental yields. While the city is desirable for students and families, consider other locations with more robust rental markets to make the most of your investment. For this reason, in recent years, many investors are choosing to invest in Manchester property or other North West cities.

              If you want more information about the various buy-to-let property hotspots that the UK has to offer, check out our latest area guides:

              Map of Lincoln

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              Author

              Dale Barham

              Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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