It’s been a volatile time for the buy to let market. That’s why property owners everywhere are looking to enhance their portfolio by being more selective in their property search and choosing the right time and place to invest. Recent surveys have shown Liverpool, Birmingham and Manchester as great places to invest in student BTL property, but another analysis has suggested you should not overlook Plymouth. The Devon city is the hotspot right now.
University of Plymouth
Gaining university status in 1992, it is perhaps one of the most successful of the so-called New Universities. The main campus is at Drake Circus, Plymouth. There is also a health research centre near Derriford Hospital – one of the west country’s largest and most important hospitals, to the north of the city. Beyond the city of Plymouth, there are two campuses in Cornwall: Truro and Camborne. But it is the Drake Circus campus which is the focus of most of the activity.
Why Choose Plymouth?
There is a southeast bias for many things. Outside of that, it’s the major cities of the north. Thoughts rarely turn to the southwest when it comes to property. But Devon isn’t just a place for retirees and summer holidays. The county has two universities. To the east of the county is Exeter – a Russell Group university popular with students. In the west is the maritime city of Plymouth. There are many reasons why you should consider Plymouth.
It’s Popular With Students
Every year, both Plymouth and its neighbour Exeter receive far more applications than spaces allow. Students love Plymouth for many reasons:
- The lure of Devon, being on the coast with quick access to beaches across east Cornwall and south Devon
- Plymouth is a great city for nightclubs lacking the expense of entry and drinks common in the southeast and up north
- The weather in Devon and Cornwall is far milder than elsewhere in the country thanks to the subtropical climate and the warm winds coming off the Atlantic. Palm trees are commonly seen in gardens
- Plymouth has a certain vibrancy to it, especially around the docks where there are plenty of bars and eateries
It’s Popular with Property Owners
According to multiple surveys, Plymouth has conventionally yielded a high return on investment for property owners. Presently, landlords enjoy a yield of around 7.25%. That’s a much higher yield than most other areas, including London and the big northern cities. Plymouth and Exeter have the highest rents outside of the capital and have done for many years. But with the general stagnation in the southwest of house prices, yield has increased. This makes Plymouth a popular city for property owners.