Sheffield is a city with a friendly and independent spirit, and it has a thriving cultural scene famed for its industrial roots that date back to the 1900s. Often referred to as the city of steel, the city is backed by its rich heritage that was firmly secured in the industrial revolution.
Sheffield is now considered one of the northern economic powerhouses with a blossoming hub of people. The population of 560,000 people is expected to grow over 633,000 by 2037. As a result, the government are already devised initiatives to transform infrastructure in anticipation of its accelerated growth, by pouring £328 million into the city. Since Sheffield is home to two of the country’s largest universities, it ensures a relentless stream of young graduates flooding into the city. This leads to a considerable demand for private and residential rental property, both in the city centre and towns sitting on the outskirts.
However, students and graduates only scratch the surface of investment opportunities. The transport links span across the city and present a significant attraction in terms of travel and accessibility. Four airports ideally located within half an hour’s drive of the centre makes it in easy transport hub for overseas investors too. Regeneration initiatives and a resilient job market amalgamate to ensure Sheffield is a very popular place for people to live, work and invest in property. The paralleled demands for homes, buy-to-let property and commercial units are increasing faster than it can be provided – an admired opportunity to secure the best investment.The buoyant private rental market in Sheffield is attributed to the restricted number of high-quality housing schemes available in central locations.
Sheffield’s unstoppable economy is now worth £7 billion a year, a recognised improvement by an average of 5% every year. This has nearly doubled since being recorded in 1997 at around £3 billion. In one of England’s leading areas for manufacturing and engineering, there have also been signs of accelerated growth in the service industry, as well as other top-performing sectors such as finance, digital and new media, environmental technology and energy. Consequently, Sheffield’s international reputation is outshining as a beacon for excellence, and ingenious delivery is being heightened all the time.
Sheffieldoffers an exceptional quality of life through the city’s vibrant assets including; being home to the largest theatre complex outside of London, high-quality sports and leisure facilities, museums and galleries attracting over 200,000 visitors annually. Approximately brings in £100 million to the local economy. There is also a new future for Sheffield high street as more regeneration projects are put in place. Other forgotten areas have also recently seen a restoration of vibrancy with regions such as Castlegate and The Moor. Sheffield City Region has a compelling vision for the future, one it is executing with determination and conviction, reasserting itself as a city embracing its global significance. These plans show a promising future for the Sheffield property market and any investor who chooses an investment in Sheffield. The potential capital growth and returns are enticing to investors as they wish to expand their property portfolio.