• 250,000 visitors descend on Halifax in response to Piece Hall opening in August 2017
• Average Halifax property value is £70k below national average (Zoopla)
• New Martins Mill provides investors with a piece of Halifax’s textile history (Property Frontiers)

Best known for its history as a wool and textile centre, the West Yorkshire town of Halifax is undergoing an exciting revival – and its former cloth mills are firmly at the heart of its new life.

It all began with an inspirational vision for Piece Hall, a Grade I listed cloth hall for handloom weavers consisting of 315 rooms set around a central courtyard. After a three year, £19 million restoration project, Piece Hall opened to the public on 1 August 2017 as a centre for trade, heritage and culture. Since it reopened, more than 250,000 people have visited Piece Hall – and many have discovered Halifax as a result, from property investors to business owners.

“This is a period of transformation for our town. We have wonderful buildings, a highly skilled workforce and, being close to the M62, great road links. In fact, everything new businesses need.”

Barry Collins, cabinet member for regeneration and economic development, Calderdale Council

The flurry of interest in Halifax and its heritage is already having a noticeable impact, with local estate agents highlighting an uptick in interest in the town’s property market as a result of the increased visitor numbers.

Piece Hall has served to pique the interest of many buyers. Halifax’s excellent value for money has then furthered that level of attention. The average property price in the town is just £154,217, according to Zoopla, following an increase in prices of 14.6% over the past five years. By way of comparison, the UK House Price Index for August lists the UK’s average property price as £225,956.

“Halifax has a real up-and-coming vibe to it right now, with Piece Hall having kick-started an elevated level of interest in the town. Buyers and renters are particularly interested in being a part of the town’s cultural heritage, and the textile industry is the epicentre of that.”

Ray Withers, CEO, Property Frontiers

The most recent textile-related offering in Halifax is the superbly redeveloped, six-storey Martins Mill. The building, which harks back to the 1800s, offers 60 unique one and two-bedroom apartments, the majority of which enjoy spectacular views of Shibden Valley’s rolling hills.

Exclusively available through Property Frontiers, the apartments will allow investors to capitalise on Halifax’s current notoriety and tap into the town’s huge potential for turning its history into its future.

“Martins Mill is perfectly positioned for those interested in the Halifax market and looking to profit from property in the town. The development blends a stunning external façade with delightfully contemporary interiors that have been designed with professional renters and their families in mind. It’s an excellent investment opportunity for those with their finger on the property market’s pulse.”

Ray Withers, CEO, Property Frontiers

For more information, contact Property Frontiers by visiting www.propertyfrontiers.com or calling +44 1865 202 700.

• New Property Frontiers report flags up the top 10 UK regional cities
• New metrics create a compelling case for regional city investment
• Doncaster, Halifax and Bradford all currently exciting investors

A new report from property investment experts Property Frontiers has highlighted investor interest in regional cities – those urban areas that don’t make the list of the top ten biggest cities in the UK, but which make up the country’s top 100 towns and cities by population.

“Far from being promising underdogs, regional cities frequently outperform much bigger and better-known cities on a wide range of metrics that signal dynamic economies, changing fortunes, and promising housing markets.”

Ray Withers, CEO, Property Frontiers

Property Frontiers has noticed a growing trend in interest from investors looking at city metrics in depth, from population growth rate to number of business start-ups. These factors are increasingly influencing investors decisions about both where to buy and how much to spend.

Based on its own analysis, Property Frontiers has highlighted the UK’s 10 regional city star performers, each of which is leading the country in one or more metrics.

These are presented in the 2017 Regional Cities Market Insight report.

Three of the cities highlighted in the report are Doncaster, Halifax and Bradford.

Doncaster is home to high tech employers including Amazon, BAE Systems, IBM, and McLaren. Halifax has been enjoying a notable surge in interest in its property market since the newly renovate Piece Hall opened, drawing in 250,000 visitors since August. Bradford, meanwhile, is home to more FTSE 100 companies than any other Northern city.

“Each of these cities displays unique characteristics that are serving to draw investors away from larger urban areas and out into the regions. Regional prices are often lower than those in larger cities, creating the potential for higher rental yields. This factor is adding further weight to the attractions of regional investment.”

Ray Withers, CEO, Property Frontiers

Danum House in Doncaster is a prime example of the kind of regional city investment that is capturing investors’ attention. The Grade II listed department store is home to 78 spacious apartments, ranging from one to three bedrooms. One-bedroom homes there cost from as little as £83,000, with yields of 8.5% per annum assured for five years. With mortgage finance available, investors can be a part of the city’s future for as little as £25,000.

“The concept of a ‘regional city’ is a very broad one. Not every such location will perform well in terms of an investment location, so it’s essential to do some homework and identify those regional cities that offer the most compelling cases for investment. Just being a regional urban area doesn’t automatically qualify a location as a successful investment opportunity – that’s why we’ve produced the 2017 Regional Cities Market Insight report! It’s a way of highlighting those cities – like Doncaster – where property is presenting some really exciting opportunities.”

Ray Withers, CEO, Property Frontiers

For more information, contact Property Frontiers by visiting www.propertyfrontiers.com or calling +44 1865 202 700.

• House prices in London falling at fastest rate since 2009 (Acadata)
• Yorkshire projected to enjoy average price rises of 3.6% for next 5 years (Barclays)
• Vast array of investment options & locations turning Yorkshire into investment honeypot (Property Frontiers)

Uncertainty lingers over much of the UK property market. London’s house prices are falling at a pace not seen since 2009, according to the latest figures from Acadata and LSL Property Services, with September prices dropping by 2.7%. Meanwhile, Hometrack data reveals that property turnover in the capital has plummeted by 17% since 2015.

However, while investors may have their jitters about London, the same can’t be said for property in Yorkshire. Prices in the northern county are projected to rise by an average of 3.6% over the coming five years, according to the Barclays UK Property Predictor.

“Steady, stable growth of this nature – in addition to the potential for decent rental yields – is precisely what investors are looking for from the UK property market right now. Property investment is about beating the Brexit uncertainty to find those pockets of the country where property markets are holding their nerve. That’s why investors are turning to northern counties like Yorkshire.”

Ray Withers, CEO, Property Frontiers

Yorkshire is home to a number of bustling cities. In addition to Leeds and Sheffield, Bradford, Doncaster, Scarborough, Halifax and Wakefield all offer plentiful employment opportunities and a great location for professionals and families looking to enjoy the urban lifestyle.

Bradford is the fourth largest metropolitan district in the UK, with an economy worth more than £8.3 billion. Outside of London, it is the UK’s fifth fastest growing city. Investors are increasingly being drawn to its hotel sector, with developments such as Fabric, in the city centre, offering a low entry point (rooms from £65,000) and yields of 10% NET per annum for up to 10 years. Bradford’s economy is supporting exceptional 5% annual growth in hotel revenues. Occupancy is on a gentle incline, while rates are steeply rising according to Armstrong Watson.

Meanwhile, other opportunities across the county abound. Investors who prefer apartments have been excited by Danum House, just a two-minute walk from Doncaster train station. One bedroom apartments are available from as little as £83,000 thanks to the exceptional value to be had in this Yorkshire city. Yields of 7% per annum are assured for five years in this popular, art deco style department store conversion.

“One of Yorkshire’s attractions is the range of investments and locations that it offers. This is truly a county with a property to suit every budget – hence it’s rapidly growing status as a top UK investment honeypot.”

Ray Withers, CEO, Property Frontiers

Over in the much-loved seaside resort of Scarborough, investors can buy into the next chapter in the history of the majestic Harland Hotel. The building oozes traditional charm, just as one would hope for from a hotel overlooking the bay of one of the UK’s most traditional seaside hotspots. The luxurious rooms are available for as little as £60,000, with ongoing income of 10% NET over 10 years proving a strong lure for investors looking to beat Brexit with strong returns.

The latest Yorkshire development set to tempt investors will be Martins Mill in Halifax. The 60 apartments, due to hit the market imminently and exclusively through Property Frontiers will breathe new life into the former textile mill, which dates back to the 1800s. The development will be the latest in a long line of Yorkshire successes for the Property Frontiers team.

“Property Frontiers has been operating in Yorkshire for many years. Apartments at Hebble Wharf in Wakefield were particularly well received back in 2015 and highlighted the investment appetite for this part of the world. With Brexit creating uncertainty in London and the surrounding area, investors are increasingly looking to areas like Yorkshire for longer-term stability. As such, we expect investment in this county to continue to expand.”

Ray Withers, CEO, Property Frontiers

For more information, contact Property Frontiers by visiting www.propertyfrontiers.com or calling +44 1865 202 700.

·         New homes being built at less than half the rate needed (Savills)

·         Anticipated UK housing market downturn unlikely to impact significantly on Northern Ireland (NIHE)

·         Frontiers’ Collection Belfast apartments newly launched by Property Frontiers 

House prices in Northern Ireland remain some 40% below their 2007 peak, but lack of supply is pushing them steadily upward. In light of rapidly increased demand for new homes, Property Frontiers has launched the second phase of the Frontiers’ Collection apartments at The Sandford in Belfast.

According to Savills, house prices in Northern Ireland increased faster than in any other UK region in 2014. In 2015, they shot up by 8%, and over the coming three years they are expected to rise by 6% per annum. Lack of supply of new dwellings is one of the main reasons behind the projections, despite construction output having grown by 4.1% in Q2 2016, based on data from the Department for the Economy.

Social housing figures back up the need for new housing. According to official government estimates, some 37,000 households are on the registered waiting list for social housing. Northern Ireland’s Minister for Communities has stated an ambition to start a further 9,600 new social homes by 2021, at a rate of 2,000 per year. Meanwhile the Housing Executive’s Northern Ireland Housing Market Review and Perspectives 2014-2017 report has forecast that some 190,000 new homes will be needed between 2008 and 2025. That equates to 11,200 new dwellings per year, but Savills has confirmed that less than half of that number were completed in 2015.

The worsening lack of supply is impacting on prices across the country. Property Frontiers CEO Ray Withers comments,

“We’ve seen prices rise across Northern Ireland over the past couple of years and the Belfast housing market is benefitting from that trend. With buyers able to look forward to the prospect of capital gains paired with steady buy-to-let income, now is the ideal time to launch the Frontiers’ Collection.

“The contemporary style of the apartments is perfectly suited to the needs of Belfast’s dynamic workforce. Many recent graduates and other professionals working in the city’s booming digital tech sector are keen to make the Titanic Quarter their home and demand for rental property in the city is strong.”

Belfast is the most significant rental market in Northern Ireland, accounting for 43% of all rental transactions in the country. The city’s e-commerce, app and software development and cyber security companies recently led the Tech National 2016 report to put it on a par with London and Manchester as one of the key digital tech clusters in the UK. Professionals working across the industry are keen to rent modern, stylish homes located in the heart of the city, with the Titanic Quarter proving particularly attractive thanks to its unique blend of leisure activities and employment opportunities.

As Northern Ireland’s economy strengthens and housing demand continues to fall further behind supply, many buyers are keen to capitalize on the opportunities that Belfast offers, according to Property Frontiers. Interestingly, Brexit worries are not being felt so strongly in the city as they are in some other areas of the UK, despite Northern Ireland voting overwhelmingly to remain in the EU. As the Northern Ireland Housing Executive summarises,

“Unlike in the mid-2000s, Northern Ireland has over the past few years only experienced steady, sustainable growth. It is therefore unlikely that the expected downturn in the UK housing market will impact significantly on house prices in Northern Ireland.”

What better time to invest?

Contemporary apartments at The Sandford, in Belfast’s Titanic Quarter, are available from £114,750 for a one-bedroom home and £141,750 for a two-bed. Already under construction, the apartments are available through the Frontiers’ Collection from Property Frontiers.

For more information on investment opportunities around the world, contact Property Frontiers by visiting www.propertyfrontiers.com or calling +44 1865 202 700.

• Pound lingering at record lows
• British property c. 20% cheaper than before the referendum for buyers with dollars
• Demand up in September but average stocks on agents’ books close to historic lows (RICS)

With the pound lingering at record lows and UK politics changing by the day, British buyers and international investors alike are rightly wondering where the property market is heading.

While they don’t have a crystal ball, the experts at Property Frontiers are feeling increasingly confident in their answer to the question they’ve been hearing most lately: “Should I invest now, or wait and see?”

The answer of course depends on your individual circumstances, but the evidence is mounting in favour of moving now.

Property Frontiers CEO Ray Withers explains,

“Brexit is undoubtedly a game-changer, and when the playing field shifts like that, it creates opportunities to get ahead as well as potential pitfalls. Some investors thrive on situations like these, hunting uncertainty around the world, while others let themselves be paralysed into not investing at all. I wouldn’t particularly recommend either course, but there is a happy medium.”

The clearest reason the UK falls into this category at the moment is sterling’s recent plunge: the currency play represents a huge opportunity for international investors. Heated debate about whether the pound will climb, settle, or fall further is pure speculation. It is a fact, on the other hand, that British property is around 20% cheaper than it was before the referendum for buyers with dollars and/or many other currencies, especially those pegged to the dollar (e.g. BHD, HKD, QAR, SAR and AED). Savings of that magnitude may render further gambling – in the form of delaying an investment – unnecessarily risky.

Delaying in order to beat the pound could go either way. Delaying in order to beat the property market, however, is very wishful thinking. Every week, more and more statistics confirm the industry consensus that (barring a full-blown recession) house prices are not going to get any cheaper any time soon, and the fundamentals in most markets still point to chronic undersupply.

Last week the Office for National Statistics (ONS) released its latest house price index, which reports price increases in the year to August 2016 of 8.4%, up from 8% in July and never dropping below 7% this year. Even the Nationwide index, based on less optimistic survey data (rather than actual registered sales), reports that the worst monthly change since the referendum was a 0.2% increase (in July, just after the vote).

Property Frontiers’ Ray Withers continues,

“In my view, what we have seen in the past few months is a temporary slowdown in a long period of excellent growth underpinned by strong fundamentals. This plateau offers a vanishing window of opportunity before prices ramp up again, and even if we get more surprises next year they may not offer anything better.”

A new RICS survey reports that demand ticked up in September while average stocks on property agents’ books were close to historic lows. August’s drop in mortgage rates should also boost demand and support price levels. And whether values increase substantially or not, in a super-low interest world, British rental yields remain amongst the strongest across many markets. RICS has further identified a “critical rental shortage” in the UK, predicting 1.8m more households will be looking to rent rather than buy a home by 2025, while Countrywide forecasts a 4% increase in rents in 2017 and again in 2018.

As the best and brightest of the industry rubbed shoulders at MIPIM last week, congregating under the banner “extraordinary times, extraordinary returns?” investors will do well to remember that there are certainly profits to be had in the UK market and to be wary of dismissing making a move due to volatility. Property is still among the safest and most stable of many asset classes, and now remains a favourable time for those that have cash (especially in different currencies) and are seeking long term investment opportunities.

For more information, contact Property Frontiers by visiting www.propertyfrontiers.com or calling +44 1865 202 700.