Why Sheffield is the UK's next big property market

Experts believe Sheffield is set to become the country’s next big property market with the future looking ‘unquestionably bright’.

Property consultancy Knight Knox says the city is showing many of the same characteristics as Manchester did prior to its own boom.

Located a short walk from Sheffield city centre, Great Central is geared toward the many young professionals looking to call Sheffield home

“The rise of Manchester as a nationally prominent property hot-spot is a by-product of proactive investment in infrastructure and business in the city, as well as a result of being a distinguished centre for higher education,” said Andy Phillips, commercial director at Knight Knox.

“Manchester’s willingness to work hand in hand with foreign investors has seen the city advance vastly, drawing in tenants from across the country as people recognise the benefits of living and working there.

“We believe Sheffield is exhibiting many of the same characteristics as Manchester prior to the property boom, and are confident Sheffield is signposted as the next big UK property market.”

Describing the future as ‘unquestionably bright’, Knight Knox highlighted a ‘huge amount’ of government and private-funded investment in the region.

This includes £1bn from Chinese firm Sichuan Guodong Construction Group, an additional £1.3bn proposed as part of the Sheffield devolution deal, as well as companies like Boeing and McLaren Automotive bringing an additional boost to the economy and creating jobs.

Sheffield is also renowned as being a popular destination for students, with two world-class universities and a student population of more than 60,000.

The latest figures from the University of Sheffield indicate more than 25% of graduates choose to remain in the city annually.

“These graduates are crucial to powering the future of the region, bringing creativity and innovation to key sectors including engineering, media and digital,” Mr Phillips commented.

“With so many young professionals eager to live in Sheffield there is a distinct lack of high-quality rental accommodation in the city, something buy-to-let investors can help to address.”

House prices in Sheffield have already increased by more than 29% in the last five years alone according to Zoopla – a clear indication of the growing appetite for property in the city.

Mr Phillips noted: “Sheffield is a city on the cusp of something very special and we are sure 2018 will be another exciting year for the region.

“With property prices still relatively low and rents on the rise, now is a perfect time to get ahead of the game and invest in Sheffield.”

Knight Knox has an ‘exciting new investment opportunity’ in the city, Great Central, which will bring 131 modern apartments to Sheffield.

Located a short walk from Sheffield city centre and a stone’s throw from the trendy Kelham Island district, Great Central is geared toward the many young professionals looking to call Sheffield home.

Off-plan prices at Great Central start from just £105,000.

“Great Central is our 11th scheme in Sheffield and we are sure it will prove just as popular with residents as those we have previously brought to market,” said Mr Phillips.

If you would like to find out more about Great Central, or any other Knight Knox developments, contact us today or call +44 (0)161 772 1370.

Knight Knox operates a comprehensive, integrated property service to develop exceptional residential property in joint venture with its experienced and proven partners.