Best Property Investments – Wolverhampton
Wolverhampton has seen exceptional growth in house prices over the past few years and is one of the best performers in the Black Country area.
With many large-scale regeneration projects underway, Wolverhampton can be the perfect option for property investors who want to start building their property portfolios in the Black Country property market.
If you’re not familiar with the area fundamentals, these are the most important aspects to consider when deciding where to buy property, and we break them into five categories: economy & employment, transport, investment, education, and shops & leisure
Areas with good fundamentals are the most popular areas with the highest demand because everyone wants to have access to great amenities, and the closer the better. High demand means price growth, appealing to a conveyor belt of professional and well-heeled tenants looking to take part in the high job density of Wolverhampton.
So how does that affect Wolverhampton? Well, this historic university city is changing drastically thanks to regeneration projects worth a combined £1bn set to improve the city and appeal to a wider demographic of tenants, driving house prices upward.
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House prices in Wolverhampton are already achieving impressive results. In May 2015, they were the fastest rising in the Birmingham and Black Country area, with prices rising by 8.3% year-on-year. In comparison, house prices in Birmingham increased by 2.9%. In March 2016, the average price in Wolverhampton was £118,000, making it an affordable place to start building your property portfolio.
Great transport links are becoming even greater
Wolverhampton has the clear benefit of being closely connected to major cities like Birmingham (17 minutes), Manchester (around 1h 10min) and even London (1h 45min). As a result, the town is a haven for commuters, taking advantage of the city having the highest job density in the Black Country.
Connections to the rest of the UK are improving, with an extension of the Midland Metro given the go-ahead in late June 2016. The £18m project is expected to complete in 2019. It will improve connections between bus, train and tram services, and create up to 1,400 new jobs in the area.
The station itself will undergo extensive improvements to increase efficiency and user-friendliness, including:
- a new ticket office
- larger passenger concourse
- ticket barriers
- improved retail, café facilities, taxi ranks, and drop off/pick up arrangements
Work is due to start on the station in 2017 after the refurbishment of its multi-storey car park is completed by Christmas 2016.
The advantages of a large student population
Wolverhampton is home to its own university, with around 24,000 students currently enrolled. A large student population is extremely useful to investors as the university and students take up a lot of lower end stock. As a result, commuting professionals and families look to higher-end properties, and the high demand helps push the prices up.
In locations that are close to higher educational institutions but not dominated wholly by students, rents are highest and house prices increase the most.
Why invest in Wolverhampton?
Wolverhampton is a university town in the heart of The Black Country and West Midlands that ticks many of the boxes most property investors have on their wish lists: a plethora of regeneration; a growing economy and great transport links. Why not read our free Property Investment Guide for Wolverhampton to find out more.
To discover more about property investment opportunities in Wolverhampton and beyond, call Gladfish today at +44 207 923 6100