As seen in Sheffield’s Strategic Economic Plan for 2020, the city continues to thrive in its goals to transform the local economy, build on its innovation heritage and be in the vanguard of the UK’s fourth Industrial Revolution.
The Sheffield economy is going through a strong revival. The city has spearheaded the UK economy boost through travel, through its amazing developments in Sheffield’s Advanced Manufacturing Innovation cluster to create automotive and aviation systems of the future.
With the Business Barometer 2021 from Lloyds Bank Commercial Banking signaling that business confidence in Yorkshire has soared to its highest level in the UK since 2018, this has a trickle effect on how many affluent professionals move to Sheffield and demand quality, purpose-built accommodation. There has never been a better time to consider property investment in Sheffield.
Why choose investment property in Sheffield?
As one of the fastest-growing cities in the country, official forecasts suggest that Sheffield will see a significant population growth to 652,300 by 2039. The 2021 Census shows that most of Sheffield’s population growth sits in the 20 to 24 age group, due to the student population and international migration.
With a population of 575,400 (forecasted most recently in 2016), this forecasted growth will mean that there are nearly 80,000 more people in Sheffield looking for properties. The result? A great property investment opportunity for investors.
Sheffield Property Investment: Student Property
The most profitable area for property investment in Sheffield is in purpose-built student accommodation.
The presence of Sheffield Hallam University and the University of Sheffield means that demand for student rental property is extremely high. Sheffield has a higher student capacity than housing available, making it ideal for the purchase of investment properties.
Students prefer moving to ready-built apartments in the city to ease learning and reduce the stress of commuting. The market is far from providing the expected supply of accommodation, and Sheffield continues to experience unrivalled demand for purpose-built student accommodation.
Investing in Property in Sheffield with Sterling Woodrow
Whether you are a first-time investor looking to understand your options and make the first steps towards building your portfolio, or an experienced investor looking for someone to effectively manage your investment, our team goes the extra mile to deliver exceptional service and results.
Sheffield Property Investment FAQs
Some of the most lucrative areas of Sheffield for property investment include the city centre, West Sheffield, South West Sheffield, South East Sheffield, East Sheffield and Rotherham. Get in touch with our portfolio managers today to find out more and discover the opportunities that we have available.