Preston has become a hotspot for homebuyers and investors

 

As more investment and regeneration is slated for the city, Preston has seen the largest increase in buyer demand year-on-year across the UK.

Preston’s lower property prices, attractive location, employment opportunities, and the variety of investment projects coming to the city are appealing for buyers at all stages, whether first-time buyers or seasoned buy-to-let investors.

Over the past 12 months, Zoopla sent 59% more sales leads to the portal’s Preston-based clients. This is likely due to the quantity of affordable properties found in the city. The income currently needed to buy a house in Preston is £10,000, which is only 39% of the income required to purchase a property throughout the UK as a whole.

Additionally, Zoopla delivered 58% more valuation leads to Preston estate agents, showing more homeowners are taking advantage of the spike in buyer demand. Transactions were even up by 8% in Preston year-on-year, and on average, estate agents have achieved 93% of a property’s listing price.

Regeneration and investment

The data, analysed by Mortgage Introducer, reveals the growing demand in Preston, a city that has seen much regeneration and investment over the past few years. A new masterplan for Preston is expected to transform the city further, making this commuter town for Manchester a thriving hub in its own right.

Preston City Council is set to collaborate with Lancashire County Council to put a significant focus on improving connectivity, enhancing links throughout the city, and highlighting cycling and walking routes. The biggest target for regeneration is in Stoneygate, which is on the edge of the main city centre. The goal is to raise the neighbourhood’s profile and attract more investment and footfall in this strategic area.

Liveability

As the UK’s newest city, Preston was named the most improved city to live and work in by PwC’s 2018 Good Growth for Cities Index. Unemployment has fallen as the city offers a range of career opportunities and a flourishing start-up scene.

With access to green space becoming more important to residents across the UK, seven of Preston’s well-maintained parks have won green space awards. Many of the surrounding areas of these leafy spaces have been subject to investment and regeneration, such as Winckley Square Gardens.

With more sites getting redeveloped for housing and businesses and plans to improve connectivity and liveability, Preston will continue to see additional regeneration and investment. More people are expected to be enticed to Preston, which will bring even more homebuyers and investors to this thriving city in the north-west.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Preston docks

Preston has become a hotspot for homebuyers and investors

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.