Property Investment in Sunderland
With its vibrant mixture of city, beach and countryside, Sunderland is quickly becoming a top destination for property investment in the UK. Sitting on England's northeastern coast, this famous port city has been transformed over the past decade into a bustling commercial hub and popular student city.
Its excellent transport links to major cities such as Newcastle, Glasgow and Leeds are helping to make Sunderland a go-to city for commuters and tourists alike. The local council has also pledged to create jobs amid its ongoing regeneration of the city centre and seafront over the coming years.
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Overview
Sunderland has a very high student population, meaning that rental demand often outweighs the supply of properties. The university itself has two campuses, one to the east and one to the north of the city centre, which means there are quite a few neighbourhoods in demand for students looking to rent a house close by.
The city is renowned for its affordable and varied nightlife, ranging from historical pubs and bustling nightclubs to fantastic museums and theatres. It’s a popular destination for sports fans too, with local football team Sunderland AFC playing their home games at the Stadium of Light.
Due to its low house prices and cost of living, the city has also become an attractive option for first-time buyers and buy to let investors. If you’re looking for an investment property then there are few places in the UK that you’ll find a more accessible entry point than Sunderland. The sheer number of estate agents popping up in and around the city is also a positive sign that the housing market is in a good place.
Why is Sunderland a good choice for property investors?
As of January 2023, the average property price in Sunderland stands at £157,344. (Rightmove)
The majority of sales in Sunderland in 2022 were semi-detached houses, selling for an average price of £164,278. Terraced houses went for an average of £123,190, whereas detached properties fetched £307,749. Overall, sold prices in Sunderland over the last year were 5% down on the previous year and 4% up on the 2020 peak of £151,774.
Current data shows that rental yields in Sunderland city area come in at 8.9% for a 1 bed, 6.4% for a 2 bed, and 4.7% for a 3 bed. That’s a very strong return for landlords, so it’s easy to see why many are turning their attention to Sunderland property investments.
According to the latest housing market forecast issued by Hamptons in October 2021, house prices in the North East are set to rise by 21.5% by 2024. Again, that make the prospect of sourcing a good buy to let in Sunderland even more attractive for property investors.
Best areas for property investments in Sunderland
Seaburn
Seaburn’s close proximity to the nearby coastline means that it is regarded as one of the most desirable areas of the city to live – and for landlords to find good investment properties. This is generally where you’ll find the highest house prices in Sunderland.
Ashbrooke
Ashbrooke is another desirable residential neighbourhood, home to many young professionals and students of the nearby university. It was developed through the Victorian era as one of the city’s first suburbs.Fulwell
Fulwell is a fairly affluent area situated in between Seaburn and the city centre. Here you’ll find a mix of older properties dating back to the 19th century and more modern new-builds.High Barnes
High Barnes is a popular residential area that offers a more laidback suburban lifestyle. There are plenty of nearby amenities, most notably the tranquil gardens and green spaces of Barnes Park.Looking for a buy to let in Sunderland?
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All information accurate as of January 2023