House For Sale £75,000
The subject property is a 2 bedroom semi-detached property located in the Farringdon area of Sunderland. The property is currently let at £650.00 pcm.
Farringdon is located 3 miles south of the City Centre providing great local facilities and travel networks.
Ashbrooke is only 7 minutes away from the City Centre which offers great facilities. The City is currently going through extensive redevelopment and is home to universities and colleges which provides great demand for properties in the area.
The area also benefits from great access to major road networks and both local and national rail services.
The property would make a great readymade investment opportunity.
Available immediately. Sold as seen.
Sunderland - What’s going on?
Sunderland's house prices are lower compared to other northern UK buy-to-let areas, but the increased rental demand offers higher yields for investors. The major private and council lead developments in the inner-city area also signal potential for significant capital appreciation in the near future. These developments include; City Hall, Train Station Auditorium, several office blocks, hotels, 10,000 seater multi-purpose arena, dockland movie studio by the Fulwell 73 Group, and many more smaller private developments.
Sunderland is viewed as a "sleeping giant" with the potential for both high short-term yields and long-term capital growth for investors who purchase properties now.
According to Land Registry, the average house price in the city was £137,419 in December, outperforming the North East's 1.5% decrease in prices (average of £147,000) and surpassing the national average rise of 0.8%. In the past year, the average sale price of properties in Sunderland rose by £16,000.
