Why Cumbria properties?
Cumbria is a beautiful county in the northwest of England, bordered by Scotland to the north and the Irish Sea to the west. It’s known for its stunning natural landscapes, including the Lake District National Park, the Solway Coast, and the North Pennines. Aside from its natural beauty, Cumbria is also an attractive destination for property investors due to its thriving tourism industry and affordable housing market. In this blog, we’ll take a closer look at why Cumbria could be an investor’s paradise.
Cumbria is a popular tourist destination, attracting millions of visitors every year. The Lake District alone welcomes around 18 million visitors annually, making it the most visited national park in the UK. This high level of tourism creates a significant demand for short-term accommodation such as holiday homes, serviced apartments, and B&Bs. If you’re considering investing in property in Cumbria, you could tap into this market by purchasing a property that can be used for short-term rentals. With so many tourists visiting the area year-round, you’re likely to have a steady stream of renters, providing you with a reliable income stream.
While some parts of the UK have seen property prices soar in recent years, Cumbria remains relatively affordable. According to Rightmove the average price of properties in Cumbria is around £221,000 compared to the UK average of £256,000. This affordability makes it easier for first-time buyers to get a foot on the property ladder, and for investors to purchase properties at a reasonable price. It also means that the rental market is more accessible, as tenants are less likely to be priced out of the area.
Cumbria is well connected to the rest of the UK, with good transport links by road and rail. The M6 motorway runs through the county, providing easy access to Manchester, Liverpool, and Glasgow. There are also several train stations in the area, including Carlisle, Penrith, and Barrow-in-Furness, with regular services to London and other major UK cities. These excellent transport links make Cumbria an attractive location for both renters and buyers.
Investing in property in Cumbria could be an excellent choice for those looking for an affordable, yet attractive location with excellent tourism potential. The high level of tourism in the area means that short-term rentals are likely to be in demand, providing a reliable income stream for investors. The affordability of the housing market makes it easier for investors to purchase properties, while excellent transport links make the area accessible for both renters and buyers. Overall, Cumbria is a great location for property investment, offering a combination of natural beauty, affordability, and good transport links.
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