Burnley has the lowest average house price in the UK, attracting buyers eager to pick up a property for as little as £78,000. Many buyers are taking advantage of relatively low house prices, making improvements and then selling them on. With almost one in 10 homes sold multiple times in just 12 months, Burnley is now known as the ‘flipping capital’ of Britain.
The increased interest in buying properties in the area means that the Burnley property investment market is flourishing. There is a growing demand amongst homebuyers for short-term peer-to-peer loans – which is great news for lenders looking for reliable investments that deliver consistent returns.
Burnley property investment is certainly on the rise. Here are some important reasons why Burnley is attracting both homebuyers and investors from all over the country.
When shopping around for a property, buyers consider position, price and accessibility. Thanks to the recently reopened train link to Manchester Victoria, Burnley ticks all the boxes.
This has reduced the journey time between Burnley and central Manchester from around 1 hour and 25 minutes via Blackburn and Bolton and 1 hour and 4 minutes via Hebden Bridge, to approximately 45 minutes via Todmorden and Rochdale, where Metrolink tram connections via Oldham are possible. This is a major drawcard for young professionals and first-time buyers who are looking for low property prices and an easy work commute.
This direct rail link is part of a Lancashire regeneration scheme that also includes an aerospace supply village and a multimillion-pound development called ‘On the Banks’. Burnley is also attracting more business investment which, in turn, is creating more local employment opportunities. As the town’s appeal continues to grow, demand for homes and accommodation is pushing up prices: properties are already selling in excess of the asking price as buyers vie for ownership.
In summary, what makes Burnley an attractive commercial and residential choice is that it is ‘up and coming’ rather than ‘arrived’. Burnley’s slow but steady growth bodes well for the local economy and the town’s future – the trick is capitalising on Burnley property investment options now before prices sky-rocket.
At The House Crowd, we make investing in property much more accessible through secured peer to peer loans, property crowdfunding and property development investment. What we’ve done is combine alternative finance with property investment to open up lucrative investment options within the market.
“Many people would like to invest in property but either can’t afford to – or are put off by the risks associated with buy-to-let”, says Frazer Fearnhead, CEO and founder of The House Crowd.
“Our job is to bring investors together to fund a single property, a larger development, or a homebuyers’ loan. This turns property investment into an affordable and well-managed option that delivers more consistent and higher returns than many traditional investment options.”
The House Crowd team is fast, experienced and efficient. No loan application is approved unless it meets all compliance requirements – as well as the borrower’s needs. Investors stand to earn an average return rate of 9.2% per annum (this was the average net return paid out from The House Crowd to investors on peer to peer loans from 2015 to 2018). They are also protected from fees and penalties, as loans are secured against the underlying value of the property.
If you’d like to know more about Burnley property investment, get in touch with us today. Investors might also be interested in viewing our current property investment opportunities in Burnley, Blackburn, Manchester, and other areas throughout the Northwest.