Norwich - A fine city to invest in
Norwich is a beautiful city and admired by many for its architecture, to its famous football ground, its attractive shopping centres and vibrant nightlife. Norwich offers a lot in the way of opportunity for both students and working professionals, it has great transport links to Cambridge, London and many more locations. Why wouldn’t you want to invest in Norwich?
Buy-To-Let Investments in Norwich
Why invest in Norwich?
Norwich is a beautiful city and admired by many for its architecture, to its famous football ground, its attractive shopping centres and vibrant nightlife. Norwich offers a lot in the way of opportunity for both students and working professionals, it has great transport links to Cambridge, London and many more locations. Why wouldn’t you want to invest in Norwich?
Norwich has great scope for investment returns. A 1-bedroom apartment in the city centre can achieve anywhere in the region of £750-£850, while a 5-bedroom property can achieve £2,300-£2,600. The average rental statistics for Norwich show a return of £1,129.00 on average. (According to Home.co.uk.)
Norwich on average is 31% cheaper to rent than places such as Cambridge and London. With super speedy train connections into Cambridge and London, Norwich become increasingly attractive for commuters.
With Norwich Research Park and the University of East Anglia calling Norwich home, the city has a large demographic of young working professionals and students. Norwich has a number of large reputable companies based in its centre, such as Aviva.
There are a lot of new and exciting developments pending completion for 2022, which gives investors plenty of opportunity to purchase their capital investment.
Buy-To-Let Property Investment and the Local Market.
Buy-to-let (property investment) traditionally attracts investors with the prospect of capital growth. Generally, investors will use the income they receive from tenants to cover things such as mortgage payments and any other associated costs related to the management or maintenance of the property.
The local buy-to-let market in Norwich has proven to be a very successful investment for landlords/investors over the long-term.
Following the COVID-19 outbreak last year, the concept of investing in a buy-to-let property generates a huge appeal for investors, with both a view of generating an additional income, and to gain capital growth with a lower risk over the long term.
Looking at the market over the past year, there has been a steady incline in both the lettings and sales market, making a buy-to-let investment an attractive prospect.
Some information about Norwich
What makes Norwich so attractive? Perhaps its fantastic high street shopping, or its amazing array of independent shops on the wonderfully quaint Norwich lanes.
Norwich is famed for having a pub for everyday of the year and a church for every week. The city boasts a large array of stunning pubs, restaurants and bars.
Perhaps you’re more drawn to the idyllic scenery and history? Norwich is rich in both. You may wish to take a tour around the castle, built at the request of William the Conqueror in 1067, the remaining city walls date back as far to 1294. Then there is Norwich’s magnificent cathedral on which work began back in 1096, these are just some of many stunning historical attractions you can find throughout the city.
Norwich is a community within a city. Perhaps exemplified by Norwich Football club, serving not only the city, but all of Norfolk as the centre of the region’s community.
The city boasts two very successful universities for students and academics alike, the University of East Anglia and Norwich University of the Arts.
Among its other accolades and sources of pride, Norwich was the birthplace of Colman’s Mustard and Norwich Union and was the very first city in England to be named as a UNESCO city of Literature in 2012, dubbing the city as both “The City of Stories”, and famously as “A Fine City” - it’s easy to see why.
