Expert tips Carlisle as new student hotspot
News Category: Industry News
Published: 30-Aug-2007
Landlords interested in profiting from the student rental market would do well to consider Carlisle as a potential area for investment, a local property expert has said.
Richard Stronach, a director at H&H King, said that the student market in the city was "very positive" at the moment, suggesting that landlords could expect to enjoy good returns on investments in the area.
Recently, a £840,000 regeneration scheme was proposed for Carlisle and, should it be completed, it is likely to encourage more people to consider the Cumbrian town for their further education.
"If [landlords] are buying properties in Carlisle as an investment, there is no reason why they shouldn't buy in the city centre, where the university is going to be. The student market place is growing," Mr Stronach explained.
"You can get on the market at about £130,000 to £140,000 for a decent three bedroom property. It's very positive."
Mr Stronach added that the regeneration project would "smarten the area up and provide employment over the period of years while building it".
Recent research from Halifax showed that rising house prices in rural areas were forcing more people to rent if they wanted to live in the countryside.
