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A great place to invest, learn, live, work and visit, Portsmouth is home to one of the country’s biggest commercial ports. Property prices have grown 45% in the last decade, with the opportunity to invest on average 30% below market value, repossessions are fantastic way to enter the market.
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Portsmouth is a proud and historic maritime city recognised as a global centre for marine, technology, aerospace, defence and advanced manufacturing and engineering. With exciting multi-million pound development schemes, now is the time to be part of Portsmouth’s story. Here are a few factors that make Portsmouth a fantastic property investment location.
Portsmouth’s advantageous geographical location has made it a UK and European gateway city. The International Port is Britain’s provides some of the most extensive international coverage, offering routes to France, Spain and many more. Way over 2 million passengers pass through the port each year.
Road connectivity is just as comprehensive, with immediate access to the county’s motorway network that provide fast links into London and other important business locations such as Heathrow and Gatwick airport. Further to this Southhampton airport is only 20 miles away, offering easy domestic travel and European connectivity.
With direct trains to London Waterloo, Victoria and Gatwick residents of Portsmouth are able indulge in the best of seaside living has to offer, whilst having the whole of the UK and Europe on the cities doorstep.
High Quality Of Life
Quality of life is lively with a brilliant choice of activities and facilities, from miles of shingle beach in Southsea, Portsmouth’s seaside resort, to Mountbatten Leisure Centre, the city’s premier sports centre on the edge of Alexandra Park.
With almost 50kms of waterfront Portsmouth has always provided a unique quality of life and a diverse range of attractions and amenities for its businesses and residents.
Other attractions in the area include the Spinnaker Tower, the National Museum of the Royal Navy, the Mary Rose Museum and HMS Victory in the Portsmouth Historic Dockyard. Being the second most densely populated city in the UK behind London, there is plenty of facilities that attract and entertain the estimated 207,000 residents in Portsmouth.
Property Supply/Demand and Capital Growth
Portsmouth’s island location means land to build on is in short supply, creating clear opportunities within the property investment market.
Commentators on Portsmouth’s property market advise that buy-to-let in the city must be viewed as a medium and long-term investment, with rents in Portsmouth now 4.29% higher than they were three years ago and property values 16.21% higher than January 2016.
Property investors have a wide variety of housing stock and opportunities to chose from in the city, ranging from local buy-to-lets to student accommodation to support the 25,000 full time students in the city, or even shorter term rental periods to contractors such as those working in the dockyards.
On the HMO or shared accommodation market, Portsmouth City Council has introduced an Article 4 direction in certain areas of the city which means that new HMOs require planning permission. We would always advice undertaking extensive due diligence to ensure that each property investment fits your strategy.
Portsmouth is undergoing a major transformation with over a billion pounds being invested in or committed to its infrastructure, amenities and new commercial developments.
The city council have a clear cut strategy for future economic growth and prosperity via a coalition of businesses that plan to shape the future of the city. This scheme includes the creation of 16,000 new jobs and around 5,000 new homes in the surrounding area to support this growth. Despite developers trying their best to meet growing housing demand, there is a fantastic opportunity for repossessed property investors to fill these gaps and cash in on the market boom in Portsmouth.
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Our sourcing team continually uncovers some of Portsmouth’s most highly desired repossessed properties, providing our clients with exclusive access incredible below market value property deals. subscribe today to have a look at our regularly updated database of repossessed properties in Portsmouth.