The Property Market in Sheffield
Sheffield has seen a rise in property investment, making it an attractive option for investors. With its rich northern history and industrial legacy, Sheffield has a unique character that has been shaped by the steel industry. The city's growing population and multiple regeneration projects make it a wise financial move to consider buying properties in Sheffield.
According to Rightmove, the overall average price of properties in Sheffield was £233,277 over the last year. The majority of sales were for semi-detached properties, with an average price of £219,448. Terraced properties were also popular, selling for an average of £184,961. Detached properties fetched a higher price of £409,579.
Sheffield's steel industry has played a significant role in the city's economy. As a result, Sheffield is commonly referred to as Steel City. However, the decline of the steel industry affected Sheffield's economic growth. Nevertheless, the city underwent a dramatic resurgence in the late 90s and early 2000s, with significant investment and regeneration projects throughout the city.
For investors looking to buy properties in Sheffield, we offer a range of options, including luxury apartments and flats. These properties are highly sought after due to Sheffield's promising future and rich history. With the city expected to continue to grow and improve, investing in Sheffield properties is a smart choice for those seeking a solid financial investment.
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The average rent for an apartment is currently £1,163 per month according to home.co.uk
Sheffield’s economy has nearly doubled in size since 2000 and is expected to expand a further 81.85% by 2035, reaching £26.59 billion in GDP.
Savills are predicting that property prices in Sheffield will increase by 18.8% by 2026.
Sheffield has a current population of 586,730 residents, making it the fifth-largest city in the UK. Consequently, immense pressure has been placed on the current housing stock, leading to a significant undersupply of housing units.
A deficit of 11,328 units is expected by 2035.
There are about 63,000 students in Sheffield, meaning that this city is one a student rental property investor should consider.