The Best Area In Hull For An Investment Property: HU5, HU9 or HU17?

The Best Area In Hull For An Investment Property: HU5

, HU9 or HU17?

If you have just come into some money, whether you have managed to sell your property, inherited some money or a savings bond has matured, you may be wondering what to do with it? The property market has been increasingly strengthening over the past few quarters and you may think you have missed the property investment boat. However, rumours of a property 'double-dip' are abundant and you may still be able to make a great investment.

With that optimistic thought in mind, where is the best place for you to invest you cash in Hull? HU5, HU9 and HU17 have the three highest property counts in East Riding of Yorkshire respectively. Therefore, they should be the top of your investment property hit list. Everyone's criteria for an investment property are different but a key consideration has got to be who you intend to rent out or resell the property to.

Whether you have buy-to-let or buy and sell in mind for your investment property you need to consider who will be interested in it when you are finished with it. If you are considering a buy-to-let for students then the HU5 postcodes are ideal as they are extremely close to the University of Hull. Student tenants can be great as you can turn the dining room into an extra bedroom so you can generate more income for the property. They also do not require a high spec property and will be relatively undemanding tenants. However, students do not always look after their University homes and you may have to have it cleaned and replace furniture periodically. You tend to have a high turnover of tenants, which can be good as any bad ones are only there for one year, but which means you have to arrange viewings every year. You can get a letting agency to manage the property but they will charge a fee for this.

If you are targeting families, either for rental or resale then HU9 postcodes have some excellent primary schools which will appeal to young families and increases the value of the property. Young families are likely to stay in a property for a relatively long period, so you will have a guaranteed income from the property. As a result the family are likely to be looking for a higher spec interior and may want the flexibility to re-decorate and make it their home. You will probably be able to rent a family home unfurnished too.

If you are targeting young professionals then HU17 is a good area to consider. Property prices will be lower than in the centre of Hull so will appeal to first time buyers if you want to buy to resell. Although the rental rate will be lower than in HU5 you will get a larger property for your investment so will appeal to young professionals looking to upgrade their home. The train is less than twenty minutes from Beverley to Hull so is not a great inconvenience to people who work in Hull. Professionals are more reliable tenants as they have a regular income so can pay the rent and tend to take better care of their home.

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