Bournemouth Is it a Property Hot Spot?

The happiest place in the United Kingdom (according to a 2007 poll by First Direct Bank) is also a property hot spot for investors. Bournemouth is well known for its awesome and picturesque seaside. The coastal town is within the Borough of Bournemouth, which is in Dorset, England. Many people from across the United Kingdom, Europe, and the world know the area as an ideal holiday destination.
The population of the town is at 163,000 as of the latest estimate. As if this is not enough to keep the Bournemouth investment property market alive, the town is also usually flooded by flocking vacationers and tourists, who come in droves to enjoy the shores during holidays. Thus, property investment in the town is very strong, mostly as investors take advantage of the opportunities brought about by increasing demand for holiday rentals.
Needless to say, the Bournemouth economy is highly reliant on the tourism industry. However, the service sector is also aggressively giving its share, employing up to 93% of the town’s overall workforce. The manufacturing industry is declining but is still contributing to the town economy, as well as business tourism. The emergence of Bournemouth as a ‘Fibrecity’ is expected to help more residents earn more money through online means.
Bournemouth University, one of the biggest universities within South England, is the major university. Together with some other educational institutions in the town, the university helps keep rentals up as thousands of students rent share and student accommodations. This is also a good reason why flats in the area are always highly in demand. In fact, flats are considered the most abundant and common property form in the area.
The pleasant coastal climate is helping beef up Bournemouth investment property market as well. General climate is warmer compared to average English weather. Summer could be as hot as 22°C during daytime, while winter could be freezing at 2°C. The sea is very pristine, thus, it has earned its own reputation. Coastal conditions have helped make Bournemouth most suitable for outdoor surfing.
The public transport is not very impressive compared to those in other cities, but there is still convenience. Train is the most reliable form of mobility within the town. A mile from the main pier is the Bournemouth Railway Station, which is actively offering regular travel services to and from London (usually takes about two hours, one way). The rail network is also running across Oxford, Manchester, Southampton, Birmingham, Glasgow, and Edinburgh. Northeast of the city center could be found the Bournemouth International Airport.
As mentioned, discount property units below market value are more commonly available in the town. Flats are the most common property form. This is because the rental market is very strong and thriving in this part of the UK. In general, Bournemouth investment property market is most popular among second-hand home investors, who resort to buying cheaper investment properties in the area. However, there are also many first-home buyers, especially young urban professionals who love beachside living.