Is Buying a Property in Plymouth a Good Investment?
The best place to invest in property is here in the UK, and Plymouth is one of the favorites. According to the latest research, Plymouth has been named and rated as one of the best areas in England. You can invest in property in 2022 for high returns.
There are different locations in Plymouth where you can find your ideal house at a fair price. There are also plans to build new houses in the city to meet the increasing housing demand.
If you're looking forward to buying property in Plymouth, you should reach out to AVRillo conveyancing solicitors for Plymouth to help you speed up the process.
Property prices in Plymouth
Plymouth has one of the most affordable house prices in the UK compared to most cities in the south. According to Zoopla, the average sold price for a property in Plymouth in the last 12 months is £224,529. There are different properties in Plymouth that have different average prices. The price of flats is £142,994, terraced is £203,733, semi-detached is £245,283, and detached houses go for £391,019.
In a recent survey, Plymouth is said to be one of the cheapest places you can buy property in Devon. At the time of this report, a three-bed house was costing as low as £130,000. In Plymouth, you have the chance to bargain for property and get the best offer for different types of houses. According to Zoopla, the average sold price for property in Plymouth is £138 255.
There is a high demand for rental and buy-to-let property in Plymouth =, which makes it an ideal place to invest. With an average rent of £927 across all property types in this city, most people are considering living here. Properties are more affordable to buy for the young population who live and work in Plymouth.
If you want to invest in the property market, you can consider Plymouth's student property sector. Students make up at least 10% of Plymouth's population, with this number increasing yearly.
This makes the competition for student accommodation in this city more competitive. Plymouth has a lot to offer for those who want to live, study, and work in the UK. The affordable property prices and the increasing demand for rental all make it an ideal place to invest in UK property.
Why consider investing in Plymouth
Forget about the low property prices in Plymouth. There are many other reasons to invest in property here. These are some of the reasons why you should consider buying property in Plymouth:
Transport links
Plymouth is a tucked town found on the southwest coast. However, this doesn’t mean you cannot get to this town easily. The Plymouth station connects the city to the rest of the country via the railways. The A38 connects Plymouth with central England via the M5 motorway and Exeter.
Plymouth also has a port with ferries that take passengers to other countries like Spain and France. It means you can get outside England through Plymouth and have your vacation. Plymouth is a waterside city, making a living and working even more favorable.
Business
Most people would consider living in Plymouth because of the vast business opportunities here. With world-class connectivity and network, the city is one of the best places to start a business. Plymouth is one of the locations in the country with superfast broadband penetration.
According to recent research by Startups Geek, most businesses that start in Plymouth are most likely to thrive compared to those in other locations in the South West. Plymouth has been placed as the ninth best place to start a business in the UK.
Schools and universities
There are many schools and universities in Plymouth. The city has over 50 000 students who provide a highly skilled and adaptable workforce. The city is home to Plymouth College of Art, Marine Academy, and Technical College, all of which provide higher education creating skilled labor in the city.
Final Thoughts
There are many reasons why you should consider investing in Plymouth property. The city has one of the lowest property prices in the UK, and the rental demand in the country is also high. When buying property in Plymouth, you should consider hiring a conveyancing solicitor to hold your hand and improve your chances of getting a good offer.
