Preston Property Investment

Preston House Prices

According to Foxtons, house prices in Preston have increased by an incredible 60% in the last 10 years and look set to continue to do so for the foreseeable future. In their residential market forecast, Savills predicted that house prices in the North West region are set to increase by a massive 11.7% in the next 5 years, the highest of all regions in the UK alongside Yorkshire and the Humber, and Preston will no doubt play a key part in this growth.

Preston Rental Market

The rental market in the city is also performing extremely well at the moment. The average rental yield in Preston is currently 4.4% according to PropertyData.co.uk, above the UK average of 3.38% (HomeLet). The PR1 district in the city is performing extremely well, with the average rental yield in the area standing at 7.1%. With UK rents expected to increase for the foreseeable future, Preston’s above-average yields are only going to increase, solidifying the city’s status as a leading buy-to-let location.

Preston Regeneration

The city is currently in the midst of a huge regeneration project, seeing significant transformation in the past 10 years to become the thriving community it is today. Preston City Council even earned the prestigious Planning Authority Team of the Year award for its strategy that is transforming the city, a strategy that is evident to see when looking into the city’s house prices.

Connectivity

Preston is located on the West Coast Mainline and is only 40 minutes from Manchester and 50 minutes from Liverpool by direct train, as well as also having direct links to London and Glasgow. In addition, the city sits at the heart of a motorway network which makes it an incredibly attractive place for businesses looking for logistical access to the rest of the UK.