If you’re a landlord or property investor, then you’re always on the lookout for opportunity. And one of the best opportunities for rental property is when a new job market opens up in an area. That’s because new jobs create demand for rental property, from local people, and people moving into the area.
Around 3,000 new jobs are set to come to Peterborough in England. This is great news for landlords and property investors in Peterborough, as it means there will be an influx of people looking to rent property in the area.
A planning milestone has been agreed with respect to the development of a new 127-acre industrial estate to be built at Red Brick Farm in Edgerley Drain Road, Fengate. It is hoped the new development will lead to between 2,943 and 3,259 jobs in the local area.
Job Growth Is Great News For Property Investors
If you’re thinking of investing in rental property, then areas with strong job growth are always a good bet. Not only will you have no shortage of potential tenants, but you can also expect rental prices to increase as demand for housing goes up. So, if you’re looking for a unique opportunity to invest in rental property, keep your eye on areas with strong job growth. You just might find your next investment property!
New jobs are always a good sign for landlords and property investors. That’s because new jobs create demand for rental property, from both local people and those moving into the area. It should also lead to more income for other local businesses, which in turn benefit and circulate money in the local economy.
When you add in infrastructure benefits such as improved roads and maybe even more public transport options, the addition of around 3,000 jobs in the area is something that appeals to landlords and tenants alike!
Potential for a significant urbanising effect
The notes for the decision highlight the impact this development is likely to have on the local economy and environment, saying; “Taking into account all of the available information regarding the proposals and the characteristics of the area, the Local Planning Authority considers that the environmental effects of the proposals will be of a significance to warrant an environmental impact assessment. The main reasons are that this proposal would be a complex development and has potential to have a significant urbanising effect.”
If you want to know about the Peterborough rental market, come and speak with local letting specialists.
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.
