Sunderland is fast becoming a prime target for property investors keen on identifying the next blossoming investment hotspot before it becomes common knowledge.
The city’s image is being significantly bolstered by a surge of new residential properties, workspaces, and job prospects. This is always a great sign for investors – it means that the city is appealing to people to come and live. Sunderland is now one of the top go-to locales for property investment in the country, which is why many are trying to sell house fast elsewhere and invest in the northeast.
Investment and Development
Sunderland is riding a wave of exceptional revival and resurgence. There are numerous investment projects underway across the city:
· £1.5 billion will be invested in the city by 2024, from both private and public wallets. The city will see new living spaces as well as new leisure, retail, and hospitality options.
· The city’s digital economy is flourishing with a £1.4 million injection from the European Regional Development Fund.
· A new Legal & General office is being erected in the Riverside area.
· As the 2020 Smart City of the year, Sunderland has attracted many tech companies to invest. As of today, it is home to over 5,500 businesses, including 80 international corporations, that employ over 100,000 individuals.
A Robust Rental Market
Sunderland’s population of 277,700 has an average income of £27,394. This demographic presents a fertile landscape for buy-to-let investors, catering to both working professionals and families in search of rental accommodations.
Furthermore, the city boasts a vibrant student populace, with the University of Sunderland alone enrolling 14,700 students. With five universities in the region, including two esteemed Russell Group institutions, Sunderland’s total student count is 106,000. Thus, investing in student accommodations is a rewarding venture in Sunderland, thanks to a consistent demand ensuring a steady flow of rental income.
Property Prices and Outlook
During 2022-23, the average property price in the area was £164,975, with semi-detached properties accounting for most sales at an average price of £169,537. Encouragingly, sold prices in Sunderland have seen a 2% rise over the previous year and a significant 9% leap since the 2020 peak of £151,922. This upward trend signals a promising return on investment for sharp-eyed property investors, even considering that in June 2023 house prices fell for the first time in 14 years. The city’s property market is well placed to ride this storm out, however.
Attractions in Sunderland
Sunderland is brimming with attractions to keep residents and tenants entertained:
Sunderland Museum and Winter Gardens
A deep dive into the city’s past, with exhibits such as the 19th-century Sunderland Lustreware ceramics and the adjacent Winter Gardens housing 2,000 plant species.
An iconic landmark is a must-visit in Sunderland. The Penshaw Monument is a neoclassical structure resembling the Greek temple, the Temple of Hephaestus. It offers stunning panoramic views of the surrounding countryside from the top.
A seafront park from the Victorian era, is a serene spot for a walk, featuring a sandstone and granite memorial fountain, a vintage iron bandstand, and a miniature railway for children.
Dating back to the 14th century and offers visitors a glimpse into Sunderland’s medieval past. Explore the castle’s tower, enjoy the surrounding parkland, and learn about its fascinating history.
St. Peter’s Church
Located in the heart of Sunderland, St. Peter’s Church is a beautiful example of Anglo-Saxon architecture. The church dates to the 7th century and showcases intricate stonework and historical artefacts.
Where to Live
Looking to make a smart property investment in Sunderland? Let’s explore exciting areas in Sunderland that are worth your attention:
Next on the list is the SR5 region, where affordability meets quality living. Carley Hill, along with the charming village of Castletown, forms part of this district. Both areas are in the midst of significant progress and development. Here, the average sold property price is £95,000, and the average monthly rental price is £550.
Sunderland’s seafront area is a hotspot of rejuvenation and growth, with the former Vaux brewery site morphing into a vibrant mixed-use space. This region is attracting attention for its residential, commercial, and leisure potential. Property in this area is priced on average at £180,000, with monthly rentals around £750.
Nestled on the southern bank of the River Wear, the Riverside Quarter is a gem with a rich tapestry of entertainment options, from sports at the Stadium of Light to a smorgasbord of bars, restaurants, and cafes. The average property price here is £160,000, while the average monthly rent stands at £700.
Home to two universities, the University District offers plentiful student housing options and amenities. With student demand for accommodation consistently growing, this district is set to be a long-term property investment winner. Average property prices in this area are around £130,000, with monthly rentals averaging £575.
This is a premier neighbourhood in Sunderland that consistently boasts some of the highest property values in the city. It’s beachfront setting, complete with a Blue Flag beach, offers residents a serene living experience. The lively promenade is packed with fish and chip shops, amusement arcades, and playgrounds, coupled with a diverse food and drink scene. The average property price here is £264,000, with a monthly rental price of around £800.
The larger district of Fulwell, home to Seaburn, is a favourite among Sunderland residents. Housing options range from quaint 19th-century terraced homes to semi-detached houses from the 1930s, catering to various tastes. Fulwell is known for its vibrant food and drink culture, lending a lively ambience to the area. With convenient bus links and the Seaburn Metro station, Fulwell ensures seamless connectivity to Sunderland’s city centre and beyond. Here, the average property price is £190,000, and the average monthly rental price is £700.
Ashbrooke, often counted among Sunderland’s most expensive districts, is a popular choice for residents. As Sunderland’s initial suburb, Ashbrooke is characterized by wide, tree-lined streets and Victorian-style homes. It is particularly favoured by young professionals and University of Sunderland students due to its proximity to the two university campuses. Average property prices stand at around £186,000 with a monthly rental average of £750.
Located in Sunderland’s southern region, Middle Herrington is one part of the larger Herrington area. Known for its easy access to the A19, Doxford Business Park, and Sunderland’s city centre, it is a favoured residential location. The closeness to Herrington Country Park, one of the city’s biggest parks, makes Middle Herrington perfect for families. The average property price here is £177,000, while the average monthly rent is £650.
Sunderland is a goldmine of investment opportunities in the UK. With an increasing number of people investing in the local housing market, the time to act is now. With services like We Buy Any Home, we can sell house fast for you and you’ll have the funds ready to invest in Sunderland ahead of the curve, all within just seven days.