Hull and its surrounding villages offer some real opportunities for buy to let investors. The area is enjoying a real cultural and economic renaissance, and there has never been a better time to invest in property around the city.
In this latest edition of the series – we take a look at HU15, a rural area to the west of Hull. An expansive rural postcode including a number of commuter villages and agricultural communities, it’s very popular with young families – with a booming rental market.
Location
Located to the west of the city, HU15 is a large, primarily rural postcode, home to more around 18,000 residents. HU15 is dotted with several commuter villages, including Brough, Elloughton, North Cave, South Cave, Newport and Gilberdyke.
It enjoys excellent transport links – the A63 runs right through the middle of the postcode, with three train stations offering regular commuter links to Hull, Leeds, York and Doncaster. Being to the west, it’s right on the edge of the M62, providing excellent road links across the region.
Brough and Elloughton
To the East of the post code lie the popular commuter villages of Brough and Elloughton. It’s a thriving community with a range of facilities, including a supermarket, banks, restaurants, pubs, shops and an excellent golf course. Brough train station is on the main line between Hull and Leeds, offering easy commuting into both cities. It is also home to BAE Systems, a world-leading aerospace and defence contractor.
These villages are both very popular with families, thanks to their proximity to South Hunsley school. Rated outstanding by Ofsted, and with an excellent reputation, it makes both villages very popular with families and offers serious long-term rental potential.
North Cave and South Cave
Further west, lie the villages of North Cave and South Cave. These are smaller, more affluent rural villages, with a few pubs, smaller shops, primary schools and a golf course. Average property prices are significantly higher than in Brough or Elloughton.
Newport and Gilberdyke
At the western edge of the postcode are the rural villages of Newport and Gilberdyke. These rural villages at the heart of the region’s agricultural industry, and are popular with those employed by the big growing businesses.
Facilities include a primary school, a few local shops and several pubs, as well as a train station. It’s also located within easy driving distance of the popular market town of Howden, which offers a wider range of amenities.
Properties
HU15 offers a diverse range of properties, from expansive heritage farms, to popular 2 and 3 bed family homes on purpose built estates. For by to let investors, the best opportunities are found in Brough, Elloughton and Gilberdyke – all three areas have a buoyant rental market.
Brough and Elloughton
These are extremely popular with families, providing real opportunities for those looking for a long term, reliable investment. South Hunsley school is a big draw, and its excellent transport links make it popular with those working in Hull, Leeds, York, Doncaster and across the Humber Bridge.
The newer estates to the west of Brough are filled with 2, 3 and 4 bed family homes. For the rental market, 3 bed properties and larger 2 bed homes (preferably with gardens and garages/dedicated parking) offer the best opportunities.
Areas off Loxley Way, like Calder Square and Meden Avenue have some excellent properties, offering deceptively large living areas and dedicated parking or garages. These properties are always in demand with families.
Gilberdyke
Investors looking for value, lower asking prices and excellent yields should consider Gilberdyke. It’s a popular area with agricultural workers, thanks to the established farming community and big employers in the planting and nurseries based close by.
2 and 3 bed family homes are always in demand, and prices are the absolute lowest in the postcode. They can be up to a third lower than in the Brough or Elloughton.
Market analysis – Zoopla – February 2018
Property values
Average property values in HU15 are: £247,093.
However, this figure is skewed massively by the wealth of larger properties in the more affluent villages. To put things in perspective, average values in Gilberdyke are currently £172,000, whilst averages in neighbouring South Cave are around £307,000.
Average asking prices for a 2 bed house in the postcode are £154,000.
Rental values
Average rents across HU15 for 2 bedroom properties currently stand at £617.
Potential yields and real world opportunities
Using the average figures, rental yields for 2 bedroom properties are around 4.8%. Whilst the headline figures aren’t particularly impressive, they simply don’t paint an accurate picture of the real world opportunities. The area is always in demand with renters, and discerning tenants are prepared to pay more for the perfect properties.
High quality 3 bedroom properties in Brough can be obtained for around £150,000, and can realistically provide returns of 6% or more. It’s important to remember that these are family properties, and are likely to rent quickly and for longer.
In Gilberdyke, 3 bedroom properties can be obtained for around £105,000 – offering realistic returns of 7% – 8% or more.
Hull Buy to Let Property Advice from CJ Property
Hull and East Yorkshire are thriving – it’s the perfect time to start investing in Hull property.
HU15 can be an excellent place to start – but whilst there are real opportunities, it’s easy to make the wrong decisions. Getting honest, expert advice from a local property expert is the best way to ensure you invest in the right properties.
CJ Property’s team of experts is here to help you make the right decisions when it comes to investing in buy to let property in HU15, and across Hull and East Yorkshire.
Our local team of property investment professionals has vast knowledge and unrivalled experience in the local market, and we can help you at every step of your investment journey. From finding the right, desirable properties in the right areas, to looking after your portfolio and managing it on your behalf – we’re here to ensure you make the right decisions.
Ready to start your investment journey? Book your free, no obligation consultation with CJ Property – the Hull buy to let investment specialists. Call 01482 645270 today for further information.
CJ Property