As the demand for housing continues to rise in Leicester, savvy investors are turning their attention towards the lucrative market of Houses in Multiple Occupation (HMOs). With its vibrant economy, growing population, and thriving student community, Leicester offers a wealth of opportunities for those looking to invest in rental properties. However, not all areas are created equal when it comes to HMO investments. In this blog post, we’ll explore some of the best areas to invest in HMOs in Leicester.
1. City Centre:
The heart of Leicester is a hotspot for HMO investments, particularly for young professionals and students who seek the convenience of city living. Areas such as Highcross, Cultural Quarter, and St. George’s Cultural Quarter are prime locations due to their proximity to amenities, universities, and transport links. Properties in these areas often command high rental yields and low vacancy rates, making them an attractive option for investors.
2. Clarendon Park:
Known for its leafy streets and Victorian properties, Clarendon Park is a favorite among students and young professionals alike. Its close proximity to the University of Leicester and De Montfort University makes it a sought-after location for HMOs. Investors can capitalize on the high demand for rental accommodation in this area, enjoying steady rental income and strong capital growth potential.
3. West End:
Situated west of the city center, the West End is another promising area for HMO investments. With its mix of residential properties and student accommodations, it offers a diverse tenant base. Areas like Narborough Road and Braunstone Gate are particularly popular, offering a range of amenities, restaurants, and bars. Investors can benefit from the steady stream of students and young professionals seeking affordable housing options in this vibrant neighborhood.
4. Stoneygate:
If you’re looking for a more upscale investment opportunity, Stoneygate ticks all the boxes. This affluent suburb boasts picturesque streets, period properties, and a reputation for high-quality living. While property prices may be higher compared to other areas in Leicester, investors can still achieve attractive rental yields, especially for HMOs catering to professionals and families.
5. Knighton:
Nestled south of the city center, Knighton is a charming residential area popular among families and professionals. With its tree-lined streets and easy access to amenities, it offers a tranquil yet convenient lifestyle. HMOs in Knighton can appeal to a variety of tenants, including professionals working in the city center or families looking for spacious accommodation.
When considering where to invest in HMOs in Leicester, it’s essential to conduct thorough research, assess market trends, and consult with local property experts. Each area offers its own unique opportunities and challenges, so investors should carefully evaluate their investment strategy and objectives.
In conclusion, Leicester presents a diverse range of opportunities for HMO investments, from bustling city center locations to serene suburban neighborhoods. By identifying the right area and property, investors can capitalize on the city’s growing rental market and enjoy long-term financial rewards.