Property investors head to Hull for 2017 City of Culture's 'attractive property credentials'

During the build up to becoming the UK City of Culture for 2017, Hull experienced significant economic investment, major infrastructure renovation and social improvements.

As a result, according to property management firm Garness Jones, the city has been at the forefront of country’s buy-to-let boom, and now property investors from all over the country are heading to Hull.

Hans Nieuwkerk, director of property management, commented: “This is a remarkable chapter in Hull’s story, with perceptions of the city finally being overturned. We’re showing the rest of the UK - and the World - that Hull has the potential for great economic and cultural success.

Although the buy-to-let boom is happening across the UK, HSBC’s 2015 findings stated that Hull finished second in the country with a rental yield of 7.8%. Manchester led the way with a rental yield of 7.98%.

HSBC’s data cited “modest property price rises and strong rental demand” as Hull’s driving force in being a leader of the buy-to-let boom.

Mr. Nieuwkerk continued: “It’s no surprise that investors from cities such as Birmingham, Leeds and London are impressed by Hull’s increasingly attractive property credentials, with investment opportunities of all shapes and sizes popping up in every corner of the city.”

Since being awarded the City of Culture title back in 2013, Hull’s economy has experienced a major boost.

Siemens’ decision to base a new £310m wind turbine blade factory in the region was seen as the biggest investment in Hull since the Victorian era, whilst George Osborne’s final budget as Chancellor saw a £13m boost to the city’s budget for 2017’s festival.

Garness Jones have been providing leading property management and advice to landlords and out-of-town investors for over 20 years, with their unrivalled local knowledge offering those from outside of the area an experienced platform from which to launch their first venture in the city.

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