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Sheffield Property Investment

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    What Property Investors Need to Know About Investing in Sheffield

    Sheffield property investment has grown more and more popular over the past decade.

    From its university scene to its industrial legacy, Sheffield is known for its rich Northern history, and the city continues to redevelop and improve to this day.

    With a range of major regeneration projects in-store and a growing population, more and more people are choosing Sheffield as one of the best places to invest their money.

    If you’re interested in learning more about Sheffield buy to let and whether this is the right area for you to invest in property in the UK, read our guide to Sheffield property investment.

    Here, we’ll talk you through the history of the city, reasons to consider Sheffield investment and advice on where to invest in Sheffield.

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      What’s the History of Sheffield?

      The city of Sheffield is steeped in history, with links to metalworking that go back centuries.

      Steel is synonymous with Sheffield. During and after the Industrial Revolution, Sheffield became the industry’s capital.

      Huge mills and vast factories were built in the surrounding area. During the Second World War, Sheffield became a vital hub for the production of armaments, resulting in the targeted bombing of the city.

      After this period, employment remained high, with a strong industrial economy.

      Unfortunately, as the steel industry went into decline, it pulled Sheffield with it, seeing many famous firms go under and their employees left to try and find a new start.

      After years of decline, Sheffield used its entrepreneurial spirit and determination to attract significant partnerships in the late 90s and early 00s.

      Over the past two decades, Sheffield has seen a dramatic resurgence, with significant investment and regeneration throughout the city.

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      Why Invest in Sheffield?

      There are so many reasons to consider Sheffield property investment, but to help give you a better idea of why you should invest in property in Sheffield, here are five benefits of Sheffield buy-to-let.

      Invest in Sheffield’s Thriving University Scene

      If you’re looking to buy a student rental property, Sheffield is definitely a UK city to consider.

      Like many cities up North, Sheffield is widely known as a top university city.

      Boasting first-class institutions such as the University of Sheffield and Sheffield Hallam, the city is populated by around 63,000 students.

      The student scene of Sheffield has undoubtedly played an important role in the development of the city, especially when it comes to student property investment in Sheffield.

      Any city with a large student population will naturally develop a demand for property in the form of student accommodation.

      Many of those involved with Sheffield property investment utilise this demand by purchasing student properties in Sheffield and by doing so, can generate some attractive returns.

      Student property is generally more affordable to purchase than residential, which is why student accommodation investment is seen as one of the best options for investors with a lower budget and a great Sheffield investment for first-time investors.

      Invest in Sheffield’s Culture

      From music to art to theatre, Sheffield has a dynamic and creative city culture.

      Sheffield has been on the cutting edge of the UK music scene with bands like The Arctic Monkeys, Bring Me The Horizon, Pulp, and Def Leppard.

      Sheffield’s independent creative drive can be seen in the surprisingly high number of specialist record labels.

      As well as this, there are plenty of performance venues, music festivals and rehearsal spaces too.

      Sheffield has a vibrant art scene with a range of contemporary and historic galleries.

      The Millennium Gallery is one of the most visited tourist attractions in the North of England.

      As well as showcasing the city’s heritage, the Millennium Gallery hosts many current exhibitions.

      The Graves Gallery houses a stunning collection of fine art, and the Site Gallery is undergoing a major redevelopment that will triple the size of this art space.

      An increasing number of creative professionals are also moving to the area and boosting the need for Sheffield property investment more than ever.

      The city has many historical and unique theatres, like the Crucible Theatre, Lyceum Theatre, Lantern Theatre and the Crucible Studio.

      Hosting a wide range of productions, from musicals to cutting-edge modern theatre, Sheffield’s theatres are a vital part of the city’s creative culture.

      Sheffield’s defiant northern spirit is a common theme in the art, music and theatre that it produces.

      Invest in Sheffield’s Growing Population of Young Professionals

      Sheffield has a large and diverse population.

      In 2023, the population of Sheffield has reached 746,000 per Macrotrends, making it England’s third-largest district authority.

      Over recent years, there’s been a significant increase in the number of 20 to 24-year-olds living in Sheffield, which is good news for those involved with Sheffield investment.

      With buy-to-let, one of the main tenant groups tends to be young professionals, which is why a higher population of young people living in an area is such a good sign when it comes to UK investments and the rental market – boosting the appeal of Sheffield buy to let.

      Part of the reason behind Sheffield’s growing young population is likely the fantastic business opportunities available.

      Sheffield has a booming tech scene start-up scene, and is home to some big business names, including PlusNet and B. Braun Medical.

      In 2023, Sheffield was recognised as being home to 6 of the Yorkshire region’s fastest-growing companies by Ward Hadaway, more than other cities in the region like York.

      With more graduates entering the city regularly and a forecast for up to 70,000 jobs to open up in Sheffield over the next ten years, Sheffield property investment is likely to remain popular for many years to come.

      Invest in Sheffield for Capital Growth

      For anyone investing in UK property, capital growth is one of the key components of a good investment.

      Areas with solid capital growth rates are crucial if you want to maximise your returns when you choose to sell your property.

      The fact that Sheffield investment offers such strong potential for capital growth is another reason to consider investing in a rental property in Sheffield.

      In a report from Zoopla in 2019, the top UK regions for house price growth have been in the North of England, the Midlands, Scotland, and Wales.

      This growth has continued, as in 2023, This is Money reported that Sheffield had seen a 77% increase in house prices since 2013, making it one of the fastest-growing markets in the UK.

      The average property price in Sheffield has also risen massively in the last five years, up 36.33%, using data from the Land Registry.

      Predictions for the future are looking strong, too, with Yorkshire and the Humber expected to see property prices grow by 11.7% over the next five years by Savills.

      If you’re a property investor looking to make large returns from your rental property, Sheffield buy-to-let is definitely something to consider.

      Invest in Sheffield for Rental Yields

      While property prices may be growing in Sheffield, this Northern city remains one of the most affordable areas in the UK for buying property.

      Sheffield property investment opportunities are perfect for investors who want to make a stable and lucrative buy-to-let purchase without spending too much.

      According to Zoopla, the average asking price for a semi-detached house in Sheffield is £240,804.

      Because of the affordability of property in Sheffield and a high level of rental demand, the city also generates some high rental yields.

      The S1 postcode, for instance, ranked among Totally Money’s list of top buy-to-let postcodes, with a 7.57% yield.

      As well as this, the average rental yields for Sheffield are around 4.65%, according to a combination of data from the Land Registry, home.co.uk and Varbes. This will bring you a solid and consistent return year on year, although you can find much higher yields if you invest in some of the best areas in Sheffield.

      While this is lower than Liverpool’s average yield of 6.39%, it’s still an attractive rate for those looking to make some significant rental income.

      Liverpool and Manchester are generally considered the best places to invest in UK property, making Sheffield’s competitive yields even more impressive.

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        Sheffield

        The Top 4 Investment Areas of Sheffield

        So, what are the best areas in Sheffield for investments?

        If you’re thinking of buying an investment property in Sheffield, it’s important to be aware of the different areas in the city and the varying potential they can offer.

        To help you find the best place to invest in Sheffield, here are four of the top Sheffield property investment hotspots. Be aware that the data on average house prices in particular Sheffield areas is limited, and the prices listed may differ depending on property type and other factors.

        Sheffield City Centre

        Population: 30,000

        Average House Price: £161,636 (per propertydata.co.uk)

        Much like many other major cities, the city centre is one of the best places in Sheffield to invest in as properties in a central location are often considered ideal buy-to-let investments.

        The best type of investments for those buying property in Sheffield city centre are residential or student properties.

        This is because the city centre is such a desirable place to live for both these tenant groups.

        Young professionals want to live in a property that’s close to their workplace and transport links, while students want to be able to walk to and from their university campus.

        Rental yields of over 7% are available within the city centre, offering some of the best investment opportunities in Sheffield.

        South East Sheffield

        Population: 158,000

        Average House Price: £213,235 (per propertydata.co.uk)

        Home to Sheffield suburbs like Arthbourne and Norfolk Park, the South East area of the city is one of the best areas to invest in Sheffield.

        Comprising some of the city’s loveliest areas, most of the South East area of Sheffield is comprised of family homes.

        Prices range from around £161,270 in the S2 postcode, to as much as £272,400 in more expensive areas according to home.co.uk, so there is a major variety of prices in this part of Sheffield.

        While many of the ‘best areas to live in Sheffield’ are better suited to families, some areas like Heeley are becoming popular with a younger crowd, which is good news for property investors seeking to target young professionals.

        Depending on the area, you can find solid rental yields of around 5%. Alongside the healthy property prices in South East Sheffield, you can find properties capable of giving you a healthy return just a short distance from the city centre.

        East Sheffield

        Population: 133,500

        Average House Price: £165,168 (per propertydata.co.uk)

        In the East part of the city, investors can find some of the most affordable Sheffield property investment opportunities.

        East Sheffield is mostly made up of traditional terraced houses and is home to some popular areas like Parsons Cross.

        While many of the towns in East Sheffield are considered more run-down than other parts of the city, investors looking for attractive yields shouldn’t overlook the potential on offer.

        Generating average rental yields of around 5.4% (per home.co.uk), East Sheffield is an increasingly popular residential hub and one of the most underrated areas to invest in the city.

        Whirlow/Eccleshall

        Population: 19,211 (2007 estimate)

        Average House Price: £377,074 (per Zoopla)

        Located to the South West of the city, Eccleshall in the S11 postcode is one of the most up-and-coming areas in Sheffield.

        This area is close to the affluent and desirable suburbs of Dore and Fullwood but offers slightly more affordable property prices.

        The many bars and restaurants available make this one of the most popular Sheffield postcodes for students and young professionals.

        Rental yields in the S11 postcode are very competitive, while the trendy and cosmopolitan nature of the area means investors are likely to benefit from some attractive capital growth returns.

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        Become a Part of Sheffield Investment

        There has been a steady increase in Sheffield investment over the past decades.

        More and more businesses are choosing to invest in Sheffield, and the city’s reputation as a key player in the Northern Powerhouse has played a big role in the city becoming one of the UK’s best places to invest money alongside Liverpool and Manchester.

        New build properties are one of the best things to invest in Sheffield right now, with more competitive prices, high rental yields and strong tenant demand from the area’s young professional scene.

        If you’re considering becoming a part of Sheffield’s growing investment, we hope this Sheffield property guide has provided you with all the right facts and information.

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        If you want to make a Manchester or Liverpool property investment and grow your investment portfolio while generating yields of up to 8%, get in touch with us today and we can guide you through our current options.

        Alternatively, try reading our free guides to other UK property investment hotspots:

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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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