Whether you have a job that you spring out of bed for in the morning, or you consider work simply a way to pay the bills, one of the key things to look for when you are considering investing in or moving to an area is the availability of jobs. Without work opportunities, it can be difficult to support yourself or your family, and for investors, a lack of local jobs may result in a limited market of people who want to rent your property, reducing the monthly rent you charge.
Historically, Sunderland suffered from this scenario, however, these days Sunderland offers many more employment opportunities which in turn has led to an increase in demand for properties, both to buy and rent.
Is Sunderland a Nice Place to Live?
For those considering a property investment in Sunderland, several exciting areas stand out.
- Carley Hill and the charming village of Castletown offer affordable yet high-quality living options.
- The seafront area, undergoing rejuvenation and growth, presents a vibrant space to live and work.
- The Riverside Quarter, nestled along the River Wear, provides plenty of local entertainment options and is attracting lots of young renters. Likewise, the University District promises long-term investment potential.
- Seaburn, with its premier beachfront setting, and Fulwell, known for its lively food and drink culture, are also attractive choices.
- Ashbrooke, characterized by its Victorian-style homes, and Middle Herrington, with its family-friendly environment is ideally located for schools and amenities.
Sunderland’s property market presents plenty of investment opportunities. With more and more people investing in the local market, the city’s potential for growth is large. Services like We Buy Any Home offer a fast and efficient way to sell flat fast or any other type of property, enabling investors to seize opportunities and stay ahead of the curve.
What is Sunderland like to live in?
Sunderland is a fantastic city to live and work in. it has really benefitted from recent and ongoing investment which has helped transform it from being considered a worn-down industrial city to a modern and prosperous 21st-century city to live and work in. Once a powerhouse of coal and shipbuilding, the city is now reinventing itself as a manufacturing hub, a centre of digital innovation, and a leader in the low-carbon economy. Challenges do remain, however.
The city is home to 275,000 and currently supports 120,000 jobs, but its unemployment rate of 8.3% is higher than the national average. However, the growth of businesses in multiple sectors indicates an upward trajectory in Sunderland’s economic fortunes, and there are plenty of jobs to be had.
The key challenge lies in increasing employment levels while simultaneously reducing unemployment. The city is working to prioritize raising education and skill levels to meet the demands of employers. By equipping its people with appropriate skills and qualifications Sunderland is trying to attract and retain talent, ensuring sustainable growth for existing and future employers.
Furthermore, a vibrant city centre is crucial for retaining skilled professionals, attracting students, workers, and investors, and providing a high quality of life for its residents. Sunderland recognizes the significance of creating a vibrant heart for the city, investing in cultural, entertainment, and business districts to enhance its appeal.
Sunderland is poised to become a thriving 21st-century city, offering its people the opportunities and quality of life they seek and deserve.
Is Sunderland a nice place to work?
Sunderland has undergone a remarkable economic reinvention over the past four decades. Through strategic investments and a skilled workforce, Sunderland has successfully attracted new industries, fostering economic growth and prosperity.
These include:
Advanced Engineering Sector
Sunderland has become one of Europe’s leading automotive locations in just 25 years with Nissan’s car plant, the largest in the UK, producing over 500,000 vehicles annually,
Financial and Customer Services (Contact Centres)
Sunderland has gained recognition as a premier location for contact centres, with global companies like Barclays, TSB, and Npower choosing to establish operations in the city. The sector currently employs over 14,000 people and benefits from a skilled and adaptable workforce.
Retail Economy
While retail remains a significant employer, Sunderland’s city centre has faced challenges as retail activities have shifted. Efforts are underway to revitalize the city centre, including the extension of The Bridges Shopping Centre and the development of cultural and business districts. These initiatives aim to increase footfall and rejuvenate the retail and evening economy.
Health and Social Care
The health and care sectors employ around 20,000 people in Sunderland and is expected to grow as the population ages. In fact the whole of the UK is crying out for care workers so demand has never been higher.
Software
Sunderland’s software sector has experienced remarkable growth over the past 15 years, becoming a thriving and profitable industry within the city’s economy. With around 180 companies employing nearly 1,500 individuals, the sector has a turnover exceeding £40 million.
Sunderland’s economic transformation showcases its ability to adapt and attract new industries, leading to job creation and prosperity. With continued investment and strategic planning, the city is well-positioned for further growth in the coming years.
Let We Buy Any Home help you realise your dream of investing in Sunderland property. We can help buy tenant properties or homes that are hard to shift in as little as 7 days, freeing up vital cash quickly and without fuss. Give us a call today and you could be making the move north sooner than you think!
