Lincoln is a major growth area. Between 1982 and 2012 its population grew from 76,800 to 94,600 residents and it's still rising.
The city is a designated ‘Growth Point’ meaning it's been earmarked as an area of interest for expansion and economic growth. Vast amounts of funding are coming Lincoln's way.
Investment plans include a proposed 80-acre employment park, vast town-centre regeneration and increased green infrastructure. As well as this, over £100m is helping to reshape Lincoln’s retail offering with tens of millions going on the creation of Central Lincoln Travel Hub.
Investment is creating jobs
Investment in Lincoln and the wider county is creating huge business opportunities and with it large numbers of jobs. In January 2015, the Government approved £111.2 million of investment in the Greater Lincolnshire area. This money is being spent on improving ports & logistics, enhancing tourism and helping manufacturing, food and farming industries to flourish further. That commitment to business ensures Lincoln will continue to grow as one of the foremost centres of commerce in the East Midlands.
Lincoln also has a growing student population and the University is expanding to accommodate the increased intake. The university sits in the heart of Lincoln city centre. A recent £200 million investment into the Brayford Pool campus has transformed the city centre, revitalising the area and attracting further investment from retail, leisure and property. A further £130 million is expected to be invested in the campus in the coming years. The university hosts almost 13,000 students and 1,350 staff and is worth more than £250 million to the local economy.
Lincoln is expanding. But there's a big problem…
As Lincoln dates back to the Roman period, many of the buildings are of historic significance and protected from development. As a result, there's a huge shortage of housing stock in the city. Essentially there's no room to build more property. Currently, there is only one planning application for a new build development in the city centre.
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How Property Investors with Little Time Can Invest in New Build and Off Plan Property using a Regeneration Strategy and Where Exactly to Invest in 2024.
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The ripple effect in action
In July 2015 the Lincolnshire Echo reported a “the ripple effect in property.” due to the combined effect of lack of housing and Londoners relocating to the city. This phenomenon is called
Lincoln estate agents are reporting a rise in London commuters priced out of the capital and looking for other major cities to settle in. As an attractive city with a healthy economy, Lincoln is becoming the choice of many looking for a better quality of life.
Lincoln's historic past adds much to the desirability of the area and is a huge draw for tourists as well as tenants. There are many attractions alongside independent shopping, arts and culture. Some of Lincoln's notable attractions include:
- Lincoln Castle which has undergone a £22 million renovation in 2015. The castle holds one of only four copies of the Magna Carta in a newly built vault. This addition is anticipated to be an attraction for international visitors
- The Cathedral Quarter which houses the stunning Lincoln Cathedral which is particularly popular because it's where parts of The Da Vinci Code were filmed.
- Steep Hill was voted Britain’s best street in 2012 connecting ‘downhill’ and ‘uphill’ Lincoln.
Lincoln needs to expand. What's the solution?
As Lincoln continues to expand, the council have had to look to the outlying towns to satisfy demand from workers and prospective residents. The experts reckon they need at least 37,000 new homes in Lincolnshire by 2036.
They are looking to the smaller villages surrounding Lincoln to help supply demand for properties. Welton, Nettleham, Bassingham and Saxilby are where efforts are being focused.
The quintessentially English town of Saxilby with its green hedgerows and village hall ethos has attracted plenty of developer attention. There are currently 330 planning applications in progress. That’s a lot of planning permissions for a town with a population of only 3,992.
Developers definitely have their sights set on Saxilby. They know they can make a profit because growth from Lincoln is spilling out to the outlying areas.
Areas with fast train connections to Lincoln are in particular demand. Find a quaint village with all the fundamentals commuters need, add a short train journey to Lincoln, and you can be sure of a good return on your investment.
Looking for investment opportunities in Lincoln?
Let us help you. We know the Lincoln property market like the back of our hand. We've run a business operating in Lincoln since 2009 so you'd better believe we know the ins and outs of the market. We know how it performs in a recession (much better than many other places) and we know how it's performing now and is expected to perform in the future (the ripple effect from London is kicking in).
Our sister company Ezytrac, a lettings and management company, knows exactly how well Lincoln property rents and we've got 7 years of healthy rental figures to prove it. But we don't just know the market well here, the market knows us too.
Over the years we've built up a solid reputation. Successfully managing over 1100 properties might have had something to do with it too. How does that help you and your investment?
Take a look at our current available property. If there's nothing available in Lincoln or the surrounding areas right now, chat to the team on +44 207 923 6100.
We're certain that using our local network of partners and developers, we can find what you're looking for, even if there's a supply shortage!