The city of Plymouth has a population of 244,000 people and is known as Britain's Ocean City. The city's economy is mainly based around maritime industries, the sea and is a major base for the Royal Navy and Royal Marines, which are the third largest employers in Devon. Plymouth is also home to Princess Yachts which is another major local employer. Derriford hospital is the largest teaching hospital in the South West of England and employs approximately 6,500 people. Plymouth is also home to one of the largest science and tech hubs in Southern England.
However, perhaps one of the more lucrative local economies is the tourist economy with Plymouth's rich maritime history and local beauty. To top it all off, you have the 20,000 + students who enrol every year to one of Plymouth's Universities.
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Connecting to the rest of the UK via well invested infrastructure, Plymouth is a major ferry port for freight and passenger traffic.
In regards to pricing, Plymouth sits well below the average housing price in the South West of England (£270,000) at £185,108. This offers an incredible scope for investors, with some properties costing as little as £50,000.
With an extremely competitive yield and low entry prices, you can see why so many investors have chosen to expand their portfolio in Plymouth. If you wish to discuss this further then please get in touch with us.
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