Partner Article

The Hull Housing Market

For anyone serious about getting on the property ladder – either buying their home or investing in property – Hull could be the city that finally entices you to make a bold move.

[Bollard, Pier, Port, Catwalk, Sea, Elbe, Hamburg] It is an up and coming place, one of the last cities in the UK to strike out and take what it can from a slow-growing economy.

But the city has not always enjoyed a positive reputation, more so among those who have not lived or spent time in the city. There are many lies and half-truths that relate to the city but when buying property here, you need bespoke, yet competitive conveyancing service in Hull.

A traditional fishing port

For many a year, Hull was a busy, thriving port that landed a vast catch of fish that was sold throughout the country and indeed, across the globe. As a result, many people disliked the thriving, busy, industrial, noisy fishing port but, as the industry declined, tourism replaced it.

Many people enjoy living, working and visiting Hull because, for a city they say, it is a friendly place.

However, it has to a certain extent been a poor relation in the tidal wave of cash, initiatives and investments that have seemingly made their way in to other cities and towns across the UK – until now. And there is one upcoming status that should transform the city.

The pedigree is good – it created a buzz around Liverpool – and that is the City of Culture status. Hull it was announced, after a dazzling and busy campaign, is the next City of Culture in 2017.

Now Hull will be seen as a destination, and this status should drive the people and investment needed. A criticism in the past – and one used by many – was that Hull seemed isolated and ‘in the middle of nowhere’.

Those that defended it, said its geography was no hindrance; in fact, many up and coming young professionals live in the city, where the property and rent prices are cheaper and more affordable, and then commuting to leads. The rail connections, they say, are good and reliable.

There are also some of the best colleges in the country in the city and surrounding area too. Thus the student population is large, transient and an important factor in the local economy.

For those that still wonder about the crime rate here – it once had a reputation of being a dark area that blighted the landscape – figures show that the crime rate has fallen dramatically, faster than the national average or so it would seem.

Culture and art are both thriving. The Museum Quarter of the city is a testament to the rich, varied past that this city boats. Take a look into the home of Williams Wilberforce, for example. Philip Larkin, Andrew Motion, to name but two massive literary figures that lived in the city, drawing inspiration from the place.

Along the two rivers that run through the city are thriving art stores, galleries and so on, all full and thriving part of the Freedom Festival. Before the crash of 2008 and the money disappeared, these waterfront properties were to be turned into metropolitan cafes, bars and tapas venues. They don’t feel the loss in the colour and vibrancy of the art and culture that moved in instead.

House prices

To much fanfare, in January 2013 a survey showed that the housing market was buoyant in Hull, a welcome note of promise in a country still gripped in the recession caused by the banking collapses of 2008.

The previous decade – from 2002 to 2012 – the housing market has the second biggest increase in the country; a whopping increase of 68%. In 2001, £65,000 or there abouts would have secured you the ‘average house’ – the semi-detached, three bedroomed family home. In 2012, your investment would have rocketed to £101,000 or so, a positive equity value of some £40,000.

And the time to buy is still now. There are many fabulous properties, from bachelor pads to starter homes, to family homes and modern, minimalist statement. And, with a local authority keen to exploit its upcoming City of Culture status, there are plans afoot to in the house building section for eco-friendly properties too. Cutting edge and innovative, there has never been a better time to look at this city for the property.

With such a bright future, can you afford to ignore buying property here? With such a large and varied portfolio of housing, there is something for everyone, from the first-time buyer to a property investor.

For anyone serious about getting on the property ladder – either buying their home or investing in property – Hull could be the city that finally entices you to make a bold move.

[Bollard, Pier, Port, Catwalk, Sea, Elbe, Hamburg] It is an up and coming place, one of the last cities in the UK to strike out and take what it can from a slow-growing economy.

But the city has not always enjoyed a positive reputation, more so among those who have not lived or spent time in the city. There are many lies and half-truths that relate to the city but when buying property here, you need bespoke, yet competitive conveyancing service in Hull.

A traditional fishing port

For many a year, Hull was a busy, thriving port that landed a vast catch of fish that was sold throughout the country and indeed, across the globe. As a result, many people disliked the thriving, busy, industrial, noisy fishing port but, as the industry declined, tourism replaced it.

Many people enjoy living, working and visiting Hull because, for a city they say, it is a friendly place.

However, it has to a certain extent been a poor relation in the tidal wave of cash, initiatives and investments that have seemingly made their way in to other cities and towns across the UK – until now. And there is one upcoming status that should transform the city.

The pedigree is good – it created a buzz around Liverpool – and that is the City of Culture status. Hull it was announced, after a dazzling and busy campaign, is the next City of Culture in 2017.

Now Hull will be seen as a destination, and this status should drive the people and investment needed. A criticism in the past – and one used by many – was that Hull seemed isolated and ‘in the middle of nowhere’.

Those that defended it, said its geography was no hindrance; in fact, many up and coming young professionals live in the city, where the property and rent prices are cheaper and more affordable, and then commuting to leads. The rail connections, they say, are good and reliable.

There are also some of the best colleges in the country in the city and surrounding area too, thus the student population is large, transient and an important factor in the local economy.

For those that still wonder about the crime rate here – it once had a reputation of being a dark area that blighted the landscape – figures show that the crime rate has fallen dramatically, faster than the national average or so it would seem.

Culture and art are both thriving. The Museum Quarter of the city is testament to the rich, varied past that this city boats. Take a look into the home of Williams Wilberforce, for example. Philip Larkin, Andrew Motion, to name but two massive literary figures that lived in the city, drawing inspiration from the place.

Along the two rivers that run through the city are thriving art stores, galleries and so on, all full and thriving part of the Freedom Festival. Before the crash of 2008 and the money disappeared, these waterfront properties were to be turned into metropolitan cafes, bars and tapas venues. They don’t feel the loss in the colour and vibrancy of the art and culture that moved in instead.

House prices

To much fanfare, in January 2013 a survey showed that the housing market was buoyant in Hull, a welcome note of promise in a country still gripped in the recession caused by the banking collapses of 2008.

The previous decade – from 2002 to 2012 – the housing market has the second biggest increase in the country; a whopping increase of 68%. In 2001, £65,000 or thereabouts would have secured you the ‘average house’ – the semi-detached, three bedroomed family home. In 2012, your investment would have rocketed to £101,000 or so, a positive equity value of some £40,000.

And the time to buy is still now. There are many fabulous properties, from bachelor pads to starter homes, to family homes and modern, minimalist statement. And, with a local authority keen to exploit its upcoming City of Culture status, there are plans afoot too in the house building section for eco-friendly properties too. Cutting edge and innovative, there has never been a better time to look at this city for property.

With such a bright future, can you afford to ignore buying property here? With such a large and varied portfolio of housing, there is something for everyone, from first time buyer to property investor.

This was posted in Bdaily's Members' News section by James Trotter .