Is Crewe still a good place to invest?
Crewe has previously been a hotspot for property developers and investors due to its cheap house prices, good transport links and large employer. However, is it still a good place to invest in?
The train project is something that you have probably heard about plenty over the years. However as Crewe is the central hub for all connecting trains, it’s predicted that Crewe will become a highly popular destination for commuters to live. Those who work in London will have a commute of only 50 minutes and with Crewe house prices being considerably less than the capital, we predict many will look for a place to live in Crewe and the surrounding areas.
Brand New Town Coming Soon…
If you’ve walked through the town quite recently, you would have probably noticed that there is no town centre left. There are very few shops left in the area, the majority have moved onto the Retail Park, and a big portion of the town has now been knocked down.
However, under all the piles of rubble are plans for a brand new town centre with a cinema, restaurants and entertainment hubs.
Development in the town have started and the new Crewe Market Hall opened in 2021. Crewe Market Hall has become a very popular destination for residents from and around Crewe with plenty of food stalls and local independent shops to choose from. With live music on Fridays, sold out Quiz nights on Thursday, Children’s entertainment during the school holidays and one-off events throughout the year, this is an insight into how popular the new town is highly to become.
Full details of the Crewe Town Centre Development plans are available for anyone to read.
Crewe is home to the University of Buckingham (the faculty of Medicine and Health Sciences) as well as UTC College, a specialist Engineering & Design School with employer support from Bentley Motor, Network Rail, Siemens, Air Products (and more).
The University of Buckingham brings students from all over the country. There are student halls nearby but there are plenty of students who will be looking for accommodation away from the halls.
UTC College is for those aged 14 – 18 therefore students won’t be looking for accommodation for themselves. Nonetheless, more and more families are moving to the area to make it easier for their children to commute to school or to increase their chances of being accepted.
Average house price and renting income
The average house price in Crewe has gone by 2%, the average price is £179,840 according to RightMove. The average rent price is about £626 pcm. The average rent for a house is coming in at £795 pcm, a flat is £570 pcm and a room is £529pcm.
What areas are we seeing becoming more popular?
In Crewe, we are finding more and more properties near Leighton Hospital are going quickly. Especially properties that are quite new or have been refurbished more recently.
Additionally, we are finding that HMO rooms are going quickly at the moment. At this moment in time, we have filled most of our HMO rooms and on the lookout for HMO landlords needing a letting agency due to the long tenant wait list that we have.
Lastly, the more ‘quieter’ areas are in high demand at the moment such as the Wistation and Leighton, more for people who have families and looking to be at a reasonable distance from their place of work.
Increased interest in surrounding areas of Crewe
We have seen an increased interest in the areas surrounding Crewe for those who are looking to invest in a more expensive area and in return, receive a higher rental income each month.
We now manage properties in Nantwich, Northwich, Middlewich and Sandbach. We believe there is an increase in rentals in Nantwich and Sandbach with it being a towns filled with independent cafes, restaurants and shops and generally a nicer area than Crewe. Also, it’s they’re excellent locations to reach Crewe, Chester, Whitchurch, Congleton and from Sandbach, quick access to the M6
In conclusion, we still believe that Crewe is a great town to invest in. There’s plenty planned to upgrade and improve the town and in the near future, it will become a place where people will want to visit and live. Furthermore, we are still seeing high demand for HMO rooms and buy to let rentals.
If you would like to speak to us about investing in Crewe (or near by) and want to find out how Amana Lettings can help, call us on 01270 699100 or complete our contact form and we’ll be in touch as soon as possible.