Ed Sheeran has been investing the fruits of his mega-successful singer-songwriting career in property, with a spending spree of £57 million.
After snapping up surrounding houses to increase the size of Suffolk estate, he also bought the properties next to his London mansion and various houses and flats around the capital. His total tally is now 27 properties, according to The Sun newspaper
His investments were praised as “a shrewd move” at a time of general uncertainty in the financial markets.
Recent analysis by national property specialist Savills claimed the overall property value of the UK housing stock has hit a record high of £7.29 trillion – equivalent to four times the value of all the companies in the FTSE 100 index.
Existing homes increased in value by £2.39 trillion over the decade and accounted for 87% of the total uplift. New housing developments added £0.35 trillion.
Local 6% house price rise in 2021
Savills said that the North of England and Midlands accounted for almost two thirds of the housing value uplift. The company’s five-year mainstream house price forecast for Yorkshire and the Humber predicts a 21.6% rise in the region by 2024. That figure includes a predicted 6% house price rise in 2021 alone.
Last month, housing search engine Zoopla found rents in York are increasing at almost double the rate of the rest of the country, rising by 5% in 2019 and now standing at an average £844 a month.
“A great time to invest in York”
It all adds up to a great time to invest in property in York, said Anya Mathewson, Managing Director of Letters.
Anya said: “York is a great place to invest in buy-to-let properties. It has an expanding population, two thriving universities and a diverse economy. It also has a great mix of heritage buildings and modern developments, which means there’s something for everyone.
“Add to that the fact it’s such a vibrant city, popular with culture vultures, families and people who like great pubs, clubs and restaurants – with great transport links to boot, and you really can’t go wrong.”
If you’re thinking of investing in a buy-to-let property in York, we’ll be happy to advise on suitable areas, developments and homes now on the market. Please contact us for a no-obligation chat.