HOTSPOT KINGSTON UPON HULL
Paul is now confident that the wind of
change is blowing in Hull’s direction, with Siemens workforce and the employment that comes with a major project. “Hull is an excellent area for property
investors; we already have a thriving rental sector because so many people come here to work on short or medium term projects. For some reason, they don’t buy homes, they only rent, which is great news for us and for landlords. However, I predict that that with the house prices as low as they are compared to most of the country, some of these newcomers will be tempted!” Lime boldly aims to lead the expected
revival of the East Yorkshire property market as Hull becomes the UK’s hub for Renewable Energy, indeed, David Cameron is claiming that Hull can become a ‘world leader’ in windfarm manufacturing. Paul Fielder says, “Hull has always been
an area that produces a good property yield due to the high number of people in rented accommodation, however it will now see fantastic capital growth in this decade. “It has to be the most affordable and
successful area for property investment; you can buy a house for £100k and get 8 per cent yields right now – and the values can only rise with all the new demand.” Another Hull agency, Pink Apple
Portfolio, also plans to be ready to serve the burgeoning community. Simon James, Head of Operations, told PROPERTYdrum, “This is fantastic news! It wasn’t long ago
that Hull was regarded as one of the least best places to live by the Location, Location, Location team for Channel 4. If they came back now they would see a
city that has had massive amounts of money put into its economy including the St Stephens development in the city centre and the transformation of the Marina area with offices and luxury apartments. “Now, with Siemens generating around 10,000 jobs in the area this is the huge boost that is needed job-wise. It will provide the confidence that home buyers/ sellers have been looking for, and whoever takes the jobs it is 10,000 pieces of good news for the Hull property market. “House prices will rise due to demand
and those sitting on the fence will now move. The rental market in Hull is all ready oversubscribed, so this news may, hopefully, bring in more property investors. “Our business was already expanding, we
have a new high street office opening in March but further offices may follow in the city. These are exciting times for Hull!”
HALIFAX STATISTICS
Q4 December 2010 United Kingdom Average Price, £164,310 Quarterly Change, -0.9 per cent Annual Change, -1.6 per cent Yorkshire and the Humber Average Price, £125,730 Quarterly Change, +1.0 per cent Annual Change, -1.3 per cent
Hull City Centre Property Prices 1 Bed Flats 2 Bed Flats
2 Bed Houses 3 Bed Houses 4 Bed Houses
£96,578 £121,332 £97,716 £135,057 £243,226
‘We are delighted to have advised Siemens in the decision process to
base its new wind turbine
plant at Alexandra Docks!’ PAuL SCOuRFiELD COLLiERS intERnAtiOnAL
Living in HuLL Kingston upon Hull has a population of around 262,400 (June 2009), up by five per cent since 2001, which is slightly higher than the national average growth (4.8 per cent) for that period. There are more males than females, which is good news for the girls! Hull City Council’s latest projections indicate that by 2033 the population will have risen to 317,900, but that figure could now rise even higher. Hull has some interesting claims to fame. Among the more serious is of course, the famous son of Hull, William Wilberforce MP, who brought about the abolition of slavery. On a lighter note, Hull claims to be the birthplace of the Yorkshire Pudding and of boiled sweets. Famous residents include the actress
Maureen Lipman, the property investors’ darling, Sarah Beeny and of course, John and Pauline, now known as Lord and Lady Prescott. John Prescott has been MP for Hull East from 1970 until last year. Sport is well catered for with many
venues including the recently completed Kingston Communications Stadium, home of Hull City Football Club and a top rugby league team, Hull Kingston Rovers.
Associated British Ports – grand plans for a new and energised Hull.
26 MARCH 2011 PROPERTYdrum
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