Pontefract is a town that is already well-positioned in the Northern Powerhouse. So, it is an area that is already benefiting from some of the best yields in the UK of up to as much as 12%. When you consider that Landlords have been fighting with low yields in London and the introduction of Section 24, their returns are taking a hit like they have never seen before.
What makes Pontefract so appealing to investors is the Northern Powerhouse project, where billions of pounds worth of investment are being committed by committed by UK and foreign businesses. So, as Pontefract is located within this area, there is no doubt that it will benefit in many different ways.
Not only is the Northern Powerhouse project appealing to investors but the first-class universities and the new HS3 rail link are turning the North of the country into an area of prosperity and potential for investors. This is a clear indication of why many investors are now moving away from the likes of London and putting more focus on other areas in the North and that is why investors should invest in Pontefract.
Pontefract is Growing and it Will Continue this Way
Already, the investment in the Powerhouse project has boosted the economy in the North and that is beginning to filter through to towns such as Pontefract. For investors, Pontefract is now an appealing opportunity when it comes to investing in property. This is because of the continued demand for rental property but also the likelihood that this is going to increase in the future. Investors can already benefit from strong yields that they have been unable to achieve in London and that is what makes the area so attractive.
Currently, prices are around 170% less than the UK as a whole, with the average price of an apartment costing around £79,500. This low price and high growth is the exact reason why Pontefract is a great option when it comes to investment.
However, Pontefract is not only going to benefit from the Powerhouse Project because the area itself will be undergoing significant redevelopment to the tune of £750 million. This will enhance the appeal of the area to investors as a new business district will bring jobs to the area and that will increase demand for property. Along with this, the area will become more desirable with green spaces as well as a £15 million leisure hub. Enhanced transport links to cities such as Leeds and Manchester, allowing professionals and families to locate themselves outside of these cities will make Pontefract more desirable while it is ideally located to vital roads and large airports offering travel possibilities that many other areas of the country cannot offer.
Pontefract really does offer a unique investment opportunity that offers growth from the beginning. Demand is already high and that is going to increase, giving investors the scope to generate bigger yields and experience growth over a long period of time.
Many areas located around Pontefract are already at saturation point in terms of rental prices and investment opportunities and that makes Pontefract a feasible option because construction across other areas of Yorkshire has slowed down, despite demand remaining healthy.So, the growing demand for property in smaller markets is what makes Pontefract the perfect option for investors to capitalise on an emerging property trend. Offering commuting potential, cheaper rental prices and being located away from the big cities, Pontefract is changing. As businesses move to the area, so will professionals, families and entrepreneurs and all of that will lead to an increase in demand for property.