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Brighton and Hove: One of the Fastest-growing Buy-to-let Hotspots

November 7, 2022

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Article Summary

Manchester
    • The city council is investing plenty of resources to transform Brighton and Hove into a blooming city of the future.
    • The fastest rising rents in England and Wales are in Brighton and Hove.
  • The city’s tourism industry contributes close to £400 million to the UK economy, as Brighton and Hove is a top Airbnb destination.

Rated among the top 10 buy-to-let areas in the UK at the beginning of 2022, Brighton and Hove is an exceptional choice for property investment. Its iconic beach, animated city centre and transport links to London are only some of the features inspiring young professionals, and families, to relocate to Brighton and Hove.

The list of solid reasons to encourage investment in Brighton and Hove buy-to-let property is extending year by year. The fastest rising rents in England and Wales are in Brighton and Hove. The city has been repeatedly included among the UK’s fastest-developing urban areas, while the local council is investing plenty of resources to transform it into a blooming city of the future.

Consistent economic and urban growth

The city’s economy is stronger than ever, with premises for impressive growth. The city’s leadership has been implementing its long-term urban regeneration plan since 2020 and has recently moved on to the second stage of the project. The city council has also been especially proactive in bringing in new employment opportunities to Brighton and Hove.

Nevertheless, around 5000 people leave the Brighton area daily. 50% of the city’s commuting population heads to London to work. Regarding lifestyle, however, commuters prefer to live in Brighton of Hove and enjoy its quality of life and picturesque landscape.

Private landlords in the Southeast of England say demand for homes to rent has started to increase considerably in Q3 2021. The urban regeneration’s creation of jobs and office spaces will continue to convince more and more professionals to move and work in the Brighton area.

Of the current development plans that are sure to attract new workforce, the Hove station area masterplan by MODA is a remarkable investment of over £250 million. This is set to generate more than 800 homes and over 50,000 sq. ft of office space, and to support extensive public realm upgrades.

Adding to its appeal, Brighton and Hove is a favourite location for tech start-up businesses. There are more of these in the seaside city than in any other place in England. Brighton and Hove has thus gained the name ‘Silicon Beach’.

Popular destination for tourists

Besides its natural attractions, there are always exciting events happening in Brighton and Hove, as its cultural scene is just as dynamic and colourful as its nightlife.

The city’s tourism industry contributes close to £400 million to the UK economy. Brighton and Hove is a top Airbnb destination, and around 21,000 jobs in the city are supported by tourism.

Furthermore, 11 million people take daytrips to Brighton and Hove and over 1.5 million people stay overnight. 1,4 million people of those who stay overnight come from other parts of the UK.

Brighton and Hove is also the LGBTQ capital of the UK, or even the world, as some have classed it.

The city welcomes around 11 million visitors a year, on the average. Adding the 30-week-per-year Airbnb occupancy rate, together with the fact that Airbnb rental prices increase up to 140% in summer, and the offer to invest in Brighton and Hove buy-to-let property is hard to top.

Buy-to-Let Advantages with Goldstone Apartments

With prices starting from £362,450, Goldstone Apartments are significantly less than other off-plan schemes in the surrounding area. One of the key benefits of Goldstone apartments is it is located only a few minutes away from Hove train station – so perfect for those visiting the area. 

The apartments’ expected rental yields go up to 11% due to the high demand from the tourism and corporate let sector. In addition to these features, there are also the prime benefits of zero ground rent and a 999-year leasehold – virtually freehold. 

Close to Goldstone retail park and to the MODA redevelopment area, the expected returns of Goldstone Apartments are around £40k to £60k per year. This is at an occupancy level of 80%, which is usually surpassed by most holiday let options in Brighton. 

Contact us

To learn about the property investment opportunities above, or to find out more about how property investment works, get in touch with the experts at North Property Group today.

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