New homes snapshot – investment is at the heart of Hull’s growing property appeal
Posted 25 February 2016 by Keith Osborne
Its role as UK City of Culture in 2017 has put Hull in the spotlight, and its unexpected appearance in Rough Guides’ top ten list of world cities to visit has underlined a potentially bright future.
It has one of the cheapest property markets in the UK, but prices have been rising steadily and its high annual yields have made it a major attraction for buy-to-let investors, with one eye on a thriving rental market centred on a student population.
Estate agent Melissa Rasen of Riverside Property, told the Yorkshire Post recently: “We are seeing a lot of investors from the south and overseas looking to buy here. The only issue they have is low stock levels. It is becoming more difficult to find investment property at the right price.”
One of the most sought-after addresses is around the city’s marina. The waterfront has been one of the major beneficiaries of over £900m of commercial investment over the past 10 years or so, with the city council hoping to secure another £600m over the next nine years to continue the regeneration project.
The old Fruit Market, already am arts-based hub, is set to get more new homes, likewise other central areas around Albion Square and Queen Victoria Square, and the east bank of the River Hull is also earmarked for more residential property. The plans are to make the most of the historic and diverse central areas as attractive places to live.
Work started on a huge new development of homes in Kingswood, on Hull’s northern outskirts, in the 1990s and to date, around 3,600 homes have been built there. Plans are in place for another 3,000 or so over the coming years. Kingswood offers a popular and growing new school and its retail park has a hatful of big-name shops, including Marks & Spencer, Next, Argos and a large Asda store. There are also leisure facilities and eateries on the doorstep.
New homes for sale in Hull now or coming soon:
Just west of the city centre and named after one of Hull’s most treasured former residents is The Hawthornes @ Amy Johnson, from Keepmoat. Prices start at £106,995 for a mix of property types, with Help to Buy available to assist purchasers with only a small deposit.
Also from Keepmoat is Scholars Green, which is providing 350 new homes in the western suburbs of the city on the former Riley College site. The choice of house types will suit first-time buyers and families, with easy access to the city centre and major roads.
There are no fewer than three show homes at Barratt Homes’ Liberty Green, where some homes have views across a series of rugby pitches. The development is open seven days a week and prices start at just £104,995, with Help to Buy available.
There’s a mix of two-, three- and four-bedroom homes at Amber, a development in Boothferry Park from Strata. Close to the Humber Bridge and M62, there’s a lot to appeal to commuters, inclusing a starting price of £122,950 on currently availability.
Award-winning Beal Homes is also offering a collection of starter homes and family houses at Kings Chase, part of the Kingswood Parks area in the north of Hull, with lots of amenities in the neighbourhood and many more around 20 minutes away in the centre of town. Phases 2 and 3 of The Village are also available here from this housebuilder, with another variety of new home styles to suit an array of house-hunters.