Portsmouth is an interesting and unique city. It’s the only city in the UK that is technically considered an island city and is famous for being the home base of the Royal Navy as well as having some of the biggest ports in the UK. It is no surprise that the sea plays a major role in the city’s economic and cultural capital.
Portsmouth is a city located on the Portsea Island, right between Portsmouth Harbour and Langstone Harbour. It is in the county of Hampshire and is connected to the mainland by many bridges, notably the A3 and M275. After London, Portsmouth is the most densely populated city in the UK and has a population of around 207,000 people. The fact that Portsmouth is an island city means that land to build on is scarce and thus it is a perfect place for property investors. Moreover, the city of Portsmouth is constantly growing and has extended to the mainland, with nearby towns such as Gosport, Fareham and Havant.
One cannot mention Portsmouth without discussing its ports. Portsmouth International Port is one of the UK’s busiest ports and provides a multitude of work opportunities in the area. It is also a passenger hub, featuring many ferries to international destinations such as France and Spain. Needless to say, Portsmouth’s economy revolves almost entirely around shipping, various maritime and naval activities. The Royal Navy and the BAE Systems Maritime facility are some of the biggest contractors in the area and offer many different opportunities in various sectors of the industry. The two Royal Navy’s new aircraft ships are also very promising and will continue being a great source of opportunities in the upcoming years.
The nearby towns of Fareham and Havant feature other types of industries, notably financial and business services, light manufacturing, public services, transport and retail. Moreover, the tech giant IBM’s headquarters are situated in the North Harbour of Portsmouth. Aside from the many industries in Portsmouth, the city also has some rich history and it attracts many visitors and tourists annually. Some famous landmarks in Portsmouth include the National Museum of the Royal Navy, the Mary Rose Museum, the Spinnaker Tower and the famous Portsmouth Historic Dockyard. Southsea is a leisurely resort which attracts many tourists from all across the UK.
It is also predicted that Portsmouth will eventually become an even bigger city with the plans to add nearly 4000 houses and apartments, in the hope of creating a new suburb around Tipner West and Horsea Island.
Portsmouth is also a big student city, being the home to the University of Porstmouth, inaugurated in 1992. It has around 26,000 students and the number is growing. Most of the university buildings can be found West of the city centre and the best areas to invest as an HMO landlord would be Southsea and Fratton, Eastney, Milton, North End and Hilsea.
What’s more is that property values in Portsmouth are estimated at around £212,837, which is quite high compared to the national average but considerably low compared to the area in which it is located. The South East is pricey and the average property goes for at least £319,000. Zoopla and Gumtree have said it is possible to find property in Portsmouth for as little as £75,000. Make sure you invest soon!
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