Sheffield
Property investment in Sheffield has grown increasingly popular over the last decade. The city is known for its rich Northern history and industrial legacy and continues to redevelop and improve to this day. With a growing population and several major regeneration projects planned, many people view Sheffield as one of the best places to invest their money.
Sheffield’s ties to metalworking go back centuries. Essentially, steel is synonymous with Sheffield, it is known as the Steel City, as the area become a capital of industry both during and after the Industrial Revolution. Huge mills and vast factories were built in the surrounding area and employment managed to remain high despite the Second World War, maintaining a strong industrial economy.
Sadly, when the steel industry went into decline, Sheffield was pulled down with it. Many famous firms went bankrupt, and their employees left to try and find a new start. After years of decline, Sheffield began to attract significant partnerships in the late 90s and early 2000s and has seen a dramatic resurgence since, as significant investment and regeneration spread throughout the city.
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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
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.
