Hereford Property Investment Guide

Hereford Property Investment

Invest in the fifth most affordable city in the UK.   

The city of Hereford lies on the River Wye, approximately 16 miles east of the Welsh border, 24 miles south-west of Worcester and 23 miles north-west of Gloucester.

Hereford has been ranked in the top five most affordable cities in the UK. In its affordable cities review, Lloyds Bank has found Hereford to be the fifth most affordable city in the UK with house prices standing at 4.55 times the average earnings.

Hereford city centre is undergoing a long-term plan for investment and regeneration. Work started in 2012 and is set to transform unused and derelict areas, such as the unused and neglected Hereford and Gloucestershire Canal.

This is one of the development features, a six-screen cinema, a Waitrose food store as well as a wide variety of shops and restaurants. The development has created more than 1,100 new jobs for the area.

Another area in Hereford under regeneration is City link road and Edgar Street Grid. The demolition works have all taken place and the main build is now on its way.

As part of phase one of the development, the region will see 800 new homes, of which 35% will be affordable homes.

The county’s property market is also positive, with houses in Hereford being marginally below the national average (by 0.28%) it is no wonder they are selling quickly. Prices in the town saw a decrease of -1.49% in the last year.

At the 2011 census Hereford’s population was 53,516 (making it the largest settlement in the county) and the population of the county is currently just under 134,000, the population has risen at a rate of just under 5% over the last ten years, making it one of the least densely populated counties in the country.

The employment in Herefordshire of people between 16-64 in the most recent census found that 80% of them are economically active. 61% of these people are employees and 15% are self-employed. Herefordshire’s GVA stands at just over £2,800 million.

For more information download our free Hereford Property Investment Guide.

Economy & Employment

Hereford is the hub of the UK’s major cider producing district, along with other delightful fresh produce.

Major employers in Hereford are; Hereford Council and NHS Hereford.

Bulmers, who’s brands include the famous Bulmers, Woodpecker and Strongbow ciders (the cider trade is worth more than £10 million to the local economy), are also based in Hereford. Bulmers specialises in 25-30 year contracts producing a lot of financial stability for the area.

16% of Herefordshire’s population work in skilled trade occupations. A relatively low proportion of the county worked in administrative and secretarial occupations standing at 15%.

Special Metals Wiggin Limited, are manufacturers of nickel alloys.

Cargill Meats Europe (formerly Sun Valley), Manufacturers and suppliers of food products for retailers and foodservice operators.

Improvements have been made to local facilities in recent years. Several schools have been improved or rebuilt, including the Hereford College of Technology.

For more information download our free Hereford Property Investment Guide.

Investment

Innovation and regeneration are at the forefront of Hereford’s future.

As of 2012, Hereford city centre is undergoing a long-term plan for investment and regeneration, with phase one of the development costing in the region of £80 million.

2014 saw the completion of a new shopping centre in The Old Cattle Market, in the city centre, this created over 1,100 new jobs. It gave the city a new cinema, high-end shops and restaurants.

The Edgar Street Grid is another city centre project underway. It will provide in the region of 800 new homes and improve access, with a new link road alleviating some of the traffic from the inner ring road.

Hospital services in the region have also benefited from an investment of £60 million recently, to replace three former units with a one-site Hereford County Hospital.

Transport

Air: Herefordshire is served by Birmingham Airport, which is 64 miles away by road. Other airports are Bristol and Cardiff, which are 70 and 71 miles away respectively.

Rail: The region is served by the Arriva Trains, with links to Manchester as well as north and south Wales. The Cotswold line runs from the region to Worcester and on to Oxford and London Paddington with First Great Western, and to Birmingham, which is operated by London Midland railways.

Road: The district is amply served by the M50 Motorway and the A40 dual carriageway trunk route. Also, the A49 and A465 serve the region with more local traffic. Hereford city centre has a new link road under construction, it will alleviate the pressure of traffic from the inner link road and provide smooth access to the new central development areas.

Bus: Traveline West Midlands operate a comprehensive network of services throughout the county.

Education

Herefordshire has 14 primary schools, 16 secondary schools, 7 special schools, 4 further education colleges and 6 independent schools.

Notable schools include:

Hereford Cathedral School rated as ‘outstanding’ by Ofsted inspectors, an independent co-educational school catering for students between the ages of 10 and 19 years.

Further Education: 

Hereford Sixth Form College is a co-educational college for ages 16 to 19 years. The college was also rated as ‘outstanding’ by Ofsted inspectors. The college offers 40 subjects at A level and 10 at GCSE. Dr Jonathan Godfrey, the current Principal, was awarded the OBE for his services to education in the 2013 New Year’s Honours list.

Higher Education: 

You are able to study a creative degree right in Hereford city centre in the Hereford College of Arts.

There are plans for a new University of Hereford, with its campus in the city centre. The university is due to start taking in undergraduate students as of September 2017. Also offering student accommodation around the city.

Shops & Leisure

Shopping & Dining: 

Hereford’s £80 million phases one regeneration project, includes a supermarket, department store, multiplex cinema, shops, restaurants and other facilities, it opened in Spring 2014. Most of the region consists of quaint villages and small market towns, so there is a wealth of shopping and dining opportunities to suit every taste and pocket.  Try Hereford Old Market in the city itself or Labels Shopping in Ross-on-Wye. Foodies should try Diego’s Café in Hereford or Ye Olde Steppes in Pembury.

Sport & Culture: 

Hereford F.C is based in the city centre. They are a semi-professional team in the Midland Football League. Cyclists will have there own network, the city aims to improve cycle safety in the city and formalising existing links. Hereford also has its fair share of castles, including; Eastnor Castle, Hampton Court Castle and Croft Castle.

Green Spaces: 

The people of Herefordshire really are spoiled for choice when it comes to green spaces. With two areas of outstanding natural beauty in the county.

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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