East Riding of Yorkshire Property Investment Guide

Where the coast and countryside combine

The area of East Riding of Yorkshire is at the eastern end of the M62 Motorway. This provides a direct link to Leeds, the north east’s transport hub of, connecting to the M1 and the south, as well as the A1(M) going north.

East Riding has excellent employment levels and a lower than national average crime rate. The overall unemployment rate is also lower than the national average.

A major employer in East Riding is the Defence School of Transport at RAF Leconfield. It trains around 14,000 personnel from the Army, the Royal Air Force and the Royal Marines each year and provides more than 1,000 civilian jobs.

The average property price here is £279,269. East Riding’s house prices as a whole are around 28.5% lower than the national average. The overall region has seen a -0.72% decrease in property prices, according to Zoopla. However, the Telegraph Newspaper report a 20.5% rise in prices by 2020 throughout Yorkshire.

The region’s total population was around 334,200 at the 2011 census,  an increase of around 6.1% over the preceding three years.

The region’s rural areas have a majority of employment. Some 20% of all VAT registered businesses in the East Riding of Yorkshire are in agriculture and its related sectors.

Another major source of employment within East Riding is the Easington Gas Terminal. This is used for gas storage and processing alongside three other gas terminals operated by PB and Centrica. The East Riding’s open coastal region has also led to the county being allocated the generation of renewable energy sources.

Nearby Kingston upon Hull is a major port and ferry terminus for P&O Ferries, sailing to and from Holland and Belgium, as well as other routes in the UK.

The closest airport to the area is Leeds Bradford Airport. It is an hour and a half drive from East Riding. The airport flies to destinations such as Italy, New York and Croatia.

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Economy & Employment

Bio-friendly energy is a major economy driver in East Riding.

The region is home to a large and growing base of leading companies linked to industrial biotech, including companies such as Croda, Reckitt Beckinser, BP and DuPont, creating a foundation of innovation and talent.

Nearly 23,000 people in East Riding work within the agriculture industries making it a popular employer.

Renewable energies are also on the rise in the area. Some companies based here are:

  • Tidal technologies – the Humber is home to two tidal energy test sites.
  • Biofuels – home to the largest proportion of biofuel production facilities in the UK.
  • Wind energy – over 20 onshore and offshore wind energy projects operate in the area.
  • Biomass – the Humber area offers significant potential for the biomass sector, with a world first in the production of energy from food waste.

Within commutable distance are Hull, York and Leeds which is the UK’s largest financial centre outside London.

There is a growing visitor economy. Last year 7 million visitors enjoyed Yorkshire bringing £443 million into the local economy.

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Investment

Renewable energy projects are the future for East Riding.

With the UK government targets for the provision of renewable energy, there is a strong interest in the coastal areas of East Yorkshire. The landscape of the region means that it has an above-average potential to generate renewable electricity for Local Authorities throughout the area. Two major investors in local wind technology are Siemens with a £160m and ABP with a £150m.

The Humber estuary is also to be used for trials of a tidal stream generator. This will be used to develop larger models which could be deployed in renewable-energy power stations capable of powering 70,000 homes.

The Humber LEP has identified over £4bn of investment, aside from that being enabled by the LGF, that is planned for the Humber. This is enabling 37 projects with £191.9m of public and private sector investment and creating an additional 13,138 jobs for the local economy.

Bridlington, on the coast, is going to see a new leisure centre in May 2016. The £25 million investment will have a state of the art leisure facility which will include, three swimming pools, a fitness suite, sports hall and cafe. Next to the leisure centre will be a new 80-room hotel, the first one to be built in 80 years in the town.

Transport

Air: The region is served by Hull’s Humberside Airport, around 22 miles from Beverley, and offers flights to domestic and international destinations. Sheffield’s Robin Hood Airport is 45 miles away, and Leeds-Bradford Airport is around 60 miles away. Leeds-Bradford Airport offers non-stop flights by 25 airlines to 95 destinations in 32 countries across the world.

Rail: The region is well-connected for rail travel, with most areas being accessible by rail. The new direct Beverley to London service is due to start in the spring of 2015, linking the region with central London in two and a half hours.

Road: The region is situated at the eastern end of the M62 Motorway.  This provides a direct link to the north east’s transport hub that is Leeds, connecting to the M1 and the south, as well as the A1(M) linking to the north.

Bus: There is a great bus service operated by the East Riding of Yorkshire Council (ERYC). Buses run from Hull and York, as well as other smaller local towns. The X1 express coach service is operated by Stagecoach Bus and links the airport with Hull city centre. Journey times are just over half an hour and services run hourly.

Education

The East Riding of Yorkshire has 131 primary schools, 19 secondary schools, 3 special schools, 5 independent schools, 1 special independent school and 2 further education colleges in its catchment area.

Notable schools include: Focus School – Cottingham Campus is a co-educational school catering for pupils between the ages of 7 and 18 years.  This highly regarded school is currently ranked by Ofsted, at number 42 in the whole of the UK.

Further Education: Bishop Burton College is a further education college, offering courses in many subjects including Public Services, Landscape, Land Based Engineering and Child Care Studies. The college’s facilities including a student village, three eating areas, a meadow and a shop. The college also has a new library and Equine stadium. East Riding College is a further education college with two main sites in Beverley and Bridlington. It also offers courses and training in 34 other locations in East Yorkshire.

Higher Education: The University of Hull is a public university, founded in 1927. The main campus is located in Hull and is home to the Hull York Medical School, a joint initiative with the University of York. There is also a smaller campus in Scarborough, over 15,000 students attend the various campuses.

Shops & Leisure

Shopping & Dining: Throughout the region, you will find all the familiar high street names, as well as a great range of independent local artisan outlets and farm shops. Beverley’s White Rabbit Chocolate Shop has won a whole host of awards. Restaurants throughout the region use locally sourced ingredients, some of the top fine dining establishments are The Westwood Restaurant, Burlington Restaurant and the Millhouse Restaurant and Bar.

Sport & Culture: The area has ample outdoor space including, the moors and the Wolds, the countryside and the coast. A desirable place to visit is, Beverley Minster. The church is one of the largest parish churches in the UK. You are able to take a rooftop tour of the area having unspoiled views across Beverley. Another top attraction is Fraisthrope Beach, in Bridlington. The beach is popular as it allows dogs and has plenty of parking. The urban areas have all the usual indoor attractions, too, from gyms to museums and art galleries, libraries and cinemas.

Green Spaces: East Riding of Yorkshire offers city, coast and countryside. You could have a ‘farm break’ and stay on one of the region’s prestigious farms. Alternatively, go and picnic in the Wolds, and explore the vast countryside.

About the Author

Brett has over 20 years experience in all facets of property, he owns various companies centred around property and is the driving force behind the education and training at Gladfish. His companies have sold over £850 million in UK and London property and he manages over 1200 properties through his estate agency chain. Today he shares his time between UK, Australia and Singapore. He is married to Arlene and together they have 4 kids.

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