Spotlight on: Warrington, Rotherham & Hull
There are three new northern stars shining brightly, with Viewber charting the property success stories in Hull, Rotherham and Warrington.
These locations form a line between the east and west coasts of England, marking the start of the Yorkshire and Lancashire. As with many northern areas, this trio has found itself in the spotlight as price rises and investment prospects usually reserved for London and more southerly spots shift north.
Viewber takes a look at property values, average rents and landlord yields in these Cheshire and Yorkshire areas.
Warrington estate agents, including Ashtons, have seen demand in the town far outweigh supply in the last two years, with reports of almost every potential buyer making an offer on the property they’d viewed. Prices are peaking in Stockton Heath and Culcheth, with better affordability in Latchford and Padgate. Ashtons also tips Great Sankey/Chapelford and Woolston as up-and-coming areas.
Properties around Warrington had an overall average price of £287,650 over the last year. This figure has risen drastically – up 31% up on the previous year and 40% up on the 2018 peak of £205,624. Average property rents in Warrington currently stand at £809 pcm (per calendar month), with yields rising as much as 5.7%, according to data from Liveyield.
Rotherham has been the talk of Northern property markets for time, no doubt due to healthy price rises. In fact, Rotherham Property Blog reports of house price growth of 18.7% in the town since 2009. Wickersley, Whiston, Moorgate, Brinsworth and Bramley are where you’ll find the most valuable properties.
Properties in Rotherham had an overall average price of £169,935 over the last year – a rise of 7% on the previous year and 11% up on the 2018 peak of £153,114. Average property rents in Rotherham currently stand at £578 pcm. Yields in Rotherham are exceptionally attractive to landlords, reaching peaks of 6.7% according to Liveyield.
Described by Property Investor Today as ‘the property market’s next hidden hotspot, Hull is enjoying a residential renaissance. Regeneration in the city centre and the Old Town area is drawing in young professionals and students, with some of the hottest property found in the Cultural Quarter and in Victoria Dock. Kingswood, Anlaby Park, Garden Village and Stoneferry remain sought-after Hull neighbourhoods among families.
Properties in Hull City Centre had an overall average price of £140,430 over the last year - similar to those seen in the previous year and 8% up on the 2017 peak of £129,644. Average property rents in Hull currently stand at £535 pcm and while lower than in Warrington and Rotherham, the yields for investors are good (up to 5.7%, according to Liveyield) as purchase prices are generally low. In fact, analysis by Iguana Developments found apartment and penthouse yields in Hull are 2.5% ahead of Manchester and Leeds.
Chase Northern yields
If you are chasing yields in the North of the country but are based elsewhere, you can send a Viewber to any property in Cheshire, Yorkshire and Lancashire to create a property report on your behalf. Our findings are used by landlords nationwide to start and build property investment portfolios. Use our feedback, photographs and videos to create shortlists and save wasted journeys. Contact the Viewber team to make a booking.
*House price figures supplied by Rightmove, average rent figures supplied by home.co.uk