Why Invest in Shrewsbury Buy-to-Let Property in 2024?

Nestled amongst the idyllic greenery of Shropshire is the county town of Shrewsbury. Situated within a loop of the River Severn, Shrewsbury is a wonderful place to call home, and has recently begun to attract the attention of buy to let property investors that are on the hunt for investment properties in England’s most popular locations. So, why choose Shrewsbury for your next buy to let investment?

Shrewsbury Buy-to-Let Property

Want to invest in one of England’s most popular towns? Here’s why you should consider investing in Shrewsbury!

Shrewsbury has a population of just over 75,000 and is home to some of the most beautiful properties, scenery and establishments in the UK. It is the ultimate destination for those looking to move to a town that is full of quintessentially English character whilst remaining in enviable proximity to large cities and bustling with employment opportunities across the breadth of Shropshire. Here’s why you should invest in Shrewsbury property in 2024!

Why Invest in Shrewsbury Buy-to-Let in 2024: Demand

Demand for properties in Shrewsbury is demonstrated through the brief amount of time properties across the town stay on the market – semi-detached and detached properties in Shrewsbury are snapped up faster than those in Birmingham, which is broadly regarded to be one of the most competitive residential property markets in the UK.

The bulk of demand for Shrewsbury properties comes from established families and couples, with the general population of the town being older than comparable locations. As such, your Shrewsbury buy to let property will appeal to larger families who will more more likely to choose stable, long-term tenancies, thereby providing you with a reliable form of income. Demand for these family units is exacerbated by the number of popular schools in the town, with many being deemed the best schools in the country. Pioneer Charles Darwin attended the private Shrewsbury School, and academies such as the Priory School and Belvidere School are rated outstanding by Ofsted.

Why Invest in Shrewsbury Buy-to-Let in 2024: Location

Shrewsbury is a fantastic town in its own right, but largely serves as a commuter town to other major destinations. It is 14 miles west of Telford, 43 miles west of Birmingham, and 153 miles from London. For those that require access to the M6 and all of its connections, Shrewsbury is situated less than 30 minutes away from the motorway network. This positions Shrewsbury well to access the amenities and opportunities in Telford and Birmingham without being in a more densely populated or expensive area, making Shrewsbury the ideal commuter town and family base.

Although Shrewsbury benefits from the seclusion of being within Shropshire’s idyllic countryside, it has access to a range of impressive transport connections across the country. Locals can use the train service to get to Manchester within eighty minutes and Birmingham within 60 minutes, with direct trains to Cardiff and Aberystwyth also available.

Why Invest in Shrewsbury Buy-to-Let in 2024: Culture

Shrewsbury is a fascinating English town that still revolves around an original medieval street plan – in fact, Shrewsbury is still home to some of the most beautiful, characterful old properties and establishments in the UK. Visiting Shrewsbury is akin to taking a brief step back in time, albeit with all of the modern amenities and opportunities you would expect from a thriving town. Locals can dive into the culture of the region at Shrewsbury Abbey, Shrewsbury Castle, and Shrewsbury Museum and Art Gallery.

Tenants will also undoubtedly enjoy the local independent and chain shopping facilities, as well as the gorgeous green space at nearby Attingham Park and the immaculately manicured lawns at Quarry Park, all of which make Shrewsbury a genuinely wonderful place to live. Even the town’s nightlife is beautiful and historic, with the Buttermarket being hosted in a grandiose Grade II property.

Why Invest in Shrewsbury Buy-to-Let in 2024: Prices

Property prices in Shrewsbury are in line with the national average, making them accessible for most investors. The average house value in Shrewsbury is £293,740, with flats costing £167,200, terraced homes costing £212,529, and detached properties costing £418,462. Investors will also be pleased to hear that the past five years have seen property price growth of 18% in Shrewsbury alone, which bodes exceptionally well for future market projections.

Rental prices are also on an upward trajectory in Shrewsbury – at the time of writing, the average rental value for properties with 3+ bedrooms in the area is over £1,000pcm. If you’re looking to buy a large house in Shrewsbury, you will also be glad to know that 5+ bedroom properties in the town will fetch an average of £1,395pcm, which is a testament to how popular properties are in this area.

Why Invest in Shrewsbury Buy-to-Let in 2024: Business

Shrewsbury sits just 9 miles from the Welsh border, situating it perfectly as a trading hub for both Wales and England. It serves as the primary commercial hub for mid Wales and the county of Shropshire, and has a yearly retail output of £299 million.

Many locals are employed in the Shropshire NHS service, with the Shrewsbury and Telford Hospital NHS Trust hiring over 5,000 employees. Similarly, Shrewsbury Business Park is home to a range of businesses covering healthcare, film and animation, law firms, property agents and IT services. Among some of the most prominent businesses with a presence in Shrewsbury include Capgemini, Severn Trent Water, British Steel, EON, Fujitsu, and Santander.

Why Invest in Shrewsbury Buy-to-Let in 2024: Regeneration

Shrewsbury is undergoing extensive regeneration that bodes well for prospective investors, as tenant demand and property values are set to soar once these regeneration schemes are completed.

The Big Connection is a scheme that aims to retain Shrewsbury’s quintessential character whilst providing more mixed-use spaces to give businesses a greater chance to thrive. This will involve constructing two new developments on either side of Shrewsbury train station, repurposing underused sites as new offices and housing spaces, creating greater fluidity throughout the town with ‘green corridors’, and the construction of a Grade A office skyscraper at the Flaxmill Malting site.

There are even plans to create 2,000 jobs through the regeneration of the Shrewsbury Riverside site, which will create 270 new homes and attract 750,000 new visitors to the town every year.

Want to Know More About Shrewsbury?

Get in touch with our expert team to learn more about the Shrewsbury property market, and discuss Shrewsbury investment opportunities in 2024.