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The future of Sheffield's housing market

Knowing when to move forward with the purchase of a property can be something of a minefield when...

Knowing when to move forward with the purchase of a property can be something of a minefield when unguided. Although a number of other areas, such as London, have seen an increase in things such as Stamp Duty, prices within Sheffield remain to be very low in comparison, despite there being a high demand.

Add to this that lower mortgage rates are being reduced, and you can understand why Sheffield remains to be such a hot topic within the housing sector. Landlords still have a large portfolio within Sheffield, and often see a much better return that they would anywhere else.

Those who are seeing their pensions underperform are also looking at other avenues for investment and as you would imagine, the Sheffield housing market is a viable option.

Another factor to consider is that many people will want, or need, to move in order to maintain different aspects of their lives. More and more business people are finding opportunities within Sheffield, with some looking to move closer to work. This in partnership with the many amenities available means Sheffield will be a desirable area for some time to come.

While there has been a decline in rental growth in other areas of the country, Sheffield remains to be a much sought-after area to reside. As such, there is much confidence in landlords investing more into properties within Sheffield, simply because of the demand. This ensures that Sheffield landlords can ensure they only choose relevant occupants for their rental properties.

Sheffield still has a strong population with the numbers coming in at around 570,000, inclusive of the student population who attend the two universities, Sheffield and Sheffield Hallam. Sheffield was recently acknowledged as being one of the best cities for graduates, using an average graduate salary, rental costs, house prices and monthly utilities.

As well being a popular city for graduates, Sheffield also ranks as one of the top ten affordable UK cities for first-time buyers. This again adds to the demand for housing within the area, meaning a greater return on any investment made in property. However, if you did need further clarification of how popular Sheffield is within this housing market, then why not consider that 74 percent of adults who reside in the city renowned for its steel industry, often window shop for other properties when browsing property websites.

 

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