Property Investment Preston

A popular destination for property investment, Preston is currently in the midst of an economic boom. Like much of the North West, Preston’s economic accomplishments can in part be attributed to the far-reaching successes of its surrounding areas: such as Manchester and the Lake District. With ever increasing house prices and rental yields, Preston has well and truly placed itself on the national radar. Whilst a lot of money has and is being piled into the city centre, much of Preston’s investment has spilled out into the outskirts of the city, making its regeneration a comparatively balanced affair to that of other major cities. With a number of big investments underway- each furthering the area’s growth for potential- Preston’s economic status is consistently on the up and is more than likely to experience an even higher surge in the coming years. While prices may be on the increase, people investing in Preston now are benefitting from relatively cheap residential property investment opportunities.

Matt Eastham, Director of Easthams & Co (Preston based agent), noted: “Smart money is currently being invested in the city centre where major new build residential developments are planned’ he then continued to say that, “Victorian and Georgian properties close to the stunning Avenham Park and Miller Gardens can be acquired for as little as a two-bedroom apartment in Manchester.” With the area’s constant development, those who invest in Preston property now may place themselves in good stead for the future. This, among many other reasons, is why exploring the realms of property investment in Preston can be so rewarding.

UCLAN University

Preston’s UCLAN University hosts a student population at around 36,000 and is the fifth biggest employer in the North West. With a roster of around 400 undergraduate and 200 plus postgraduate courses, the university is a huge draw for international students and contributes a massive £200m to the North West economy. The University also plays an important part in supplying a skilled and varied workforce to the North West, who add an additional £24m average to the North West economy, increasing the standard of the average skill set and productivity ratings.

Prime Location

The third largest city in the North West, Preston is only 40 minutes from the beating heart of the Northern Powerhouse- Manchester city. It’s also just 17 minutes away from neighbouring Blackburn. Ideally situated, Preston is easily accessible from all areas of the country. Granting its residents access to the M6, M55, M61, M65 and M55, people can get to neighbouring Manchester in under 50 minutes, and then London in just two hours. Up to 40% of the country’s work force live within a hour commute of Preston. Being so accessible does have its perks. For example, these transport links make Preston a more valuable commodity for big businesses looking to base themselves in an area great access to a talented workforce. An investment hotbed, Preston is quickly rising through the ranks as one of the North West’s premier property investment locations. Like the rest of the region, the amount of property investment Preston receives is tantamount to the amount of investment the city receives in general.

A rapidly developing city, Preston is forecast to receive up to £435 Investment . This, along with an additional 20,000 new jobs and 17,420 new homes will help to project Preston’s economy to an estimated £1bn over the course of the next decade. With its rapidly developing infrastructure, Preston’s desirability is only ever set to increase. Having already started its massive regeneration, Preston now boasts a refurbished high street, a modern landscaped pedestrian area, and improved historic park. Future plans will also see a complete rehaul of Preston’s Market Quarter: a brand-new cinema, retail units, restaurants and car park will be just a few of many new improvements. As a whole, Preston is a small but valuable contributor to the North West’s property market investment sphere. Other areas throughout the Northwest, including Manchester, are pushing the North West regeneration.