The East of England region covers the counties of Norfolk and Suffolk plus some of Cambridgeshire, Essex, Hertfordshire and Bedfordshire including some of the area known as East Anglia. The east of England is a large and diverse area, consisting of several different city, town and rural property-markets each offering different opportunities for property investors.
According to this report from the European Commission, the region is one of the fastest-growing regions in the UK, both in terms of population and economy. The region is also one of the wealthiest areas in the UK. It had the third-highest GDP per capita in the UK in 2017.
The east of England has a diverse economy too. While some parts of the east are very rural the cities like Norwich and Peterborough are important business centres. Cambridge is a major global hub for education, science and technology businesses.
Some parts of the east are just within the London commuter belt, which can be very good news for buy to let property investors. For example, Colchester is just 49 minutes from London. This report says that Colchester is the cheapest place to own a home and travel to work in London. The report also recommends Peterborough, Bedford and Manningtree in Essex as being up and coming commuter spots.
Property investors looking at the east of England need to know about London Stansted Airport and the docks at Felixstowe and Harwich. Stansted Airport is the fourth busiest airport in the UK. The Port of Felixstowe is the UK’s busiest container shipping port, and one of the busiest in Europe. These areas are employment hotspots offering lots of jobs and so can offer good opportunities for buy to let landlords.
The east of England also offers many different opportunities for student accommodation investment. Cambridge is home to the University of Cambridge and Anglia Ruskin University with around 60,000 students overall. Norwich has the University of East Anglia (UEA) and Norwich University of the Arts with around 16,000 students. The University of Essex has its main campus at Colchester. The University of Suffolk has campuses in Ipswich, Bury St. Edmunds, Lowestoft and Great Yarmouth.
There are plans to set up a new Peterborough University on a brand new site with 2,000 students by 2022. This could be really good news for investors who want to invest in student houses. Anglia Ruskin University already has a small campus in Peterborough.