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We Currently Have High Yielding (8%+) Rental Properties to Buy in Carlisle...

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Areas of Carlisle: Buy-to-Let Property Investment Hotspots

Investing in city property often means paying high prices… and only getting a small property for your money. That’s not the case in the City of Carlisle though! Carlisle offers property investors excellent value for money. It’s a place where your pound can buy a surprising amount of property.

Contents

  • Why Invest in Carlisle?
  • The Local Economy
  • Transport Connections
  • Local Attractions
  • Property Values
    • Flood Risk and Defence Schemes
  • Average Asking Price by Postcode Area
  • Rental Demand
  • Landlord Licensing
  • The Best Places to Live In and Around Carlisle
  • Property Investment in Carlisle
    • City Centre
    • North Carlisle
    • South-East Carlisle
    • South-West Carlisle
  • Other Areas to Consider
    • Wigton
    • Brampton

Why Invest in Carlisle?

Carlisle, located in Cumbria's English Borders, is a mere 13 miles from Scotland, earning its nickname as the "Great Border City." While it is one of England's smaller cities, with a population of around 108,400, its reach extends to approximately 500,000 people in the surrounding area.

Carlisle stands as both a city, governed by the City of Carlisle Council and the county town of Cumbria. Its key industries include light manufacturing, wholesale, retail, agriculture, transport and logistics, and public services. The city's strategic position on the M6 motorway is leveraged by several large industrial estates, such as Kingstown Industrial Estate and Kingsmoor Park, fostering local employment.

Carlisle boasts a rich history, dating back to Roman times, when it was known as Luguvalium. The city may not be a major tourist hub, but it offers attractions like Carlisle Castle and Tullie House Museum and Art Gallery. Additionally, Carlisle is conveniently located near popular tourist destinations, including the Lake District, Hadrian's Wall, the Solway Coast, and Gretna Green in Scotland. The city also serves as a terminus for the renowned Settle Carlisle Railway.

In terms of education, Carlisle is home to the University of Cumbria, which has two campuses in the city and a total of 8,000 students. The university's presence contributes to a lively cultural scene and nightlife in the city.

Carlisle's property market offers excellent value for money, with lower prices compared to other cities, making it an attractive prospect for investors. Its direct access to the M6 motorway and the West Coast Main Line railway ensures convenient travel to London, Manchester, Newcastle, Birmingham, and Glasgow.

The recent development of the brand-new Carlisle Lake District Airport further enhances Carlisle's appeal, with flights to London Southend, Belfast, and Dublin. This addition is expected to boost business and tourism in the area, potentially making Carlisle the next holiday home hotspot.

With its diverse industries, rich history, and proximity to popular tourist destinations, Carlisle presents a compelling case for investment.

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Carlisle's city walls, specifically the West Walls, which are near the Cathedral.
The West Walls, Carlisle

The Local Economy

Carlisle's economy is diverse, with key sectors including health, retail and business services, logistics, manufacturing, and agriculture. As a sub-regional centre for northern Cumbria and southern Scotland, Carlisle draws a wide catchment for skills and business activity.

The health industry is the largest in Carlisle, accounting for 16.1% of jobs in the area. Retail and business services are also significant, with Carlisle boasting the largest concentration of such activity in Cumbria.

Carlisle's strategic location and transport links have fostered a robust logistics sector, and food manufacturing is a key element of the local economy. The presence of the University of Cumbria and Carlisle College further contributes to the city's economic landscape.

As of 2022, Carlisle's working-age population was 68,713, with an employment rate of 92.6%. The mean average salary for full-time employees in 2022 was £31,492, and the unemployment rate was 7.4%.

Carlisle is home to a mix of large, medium, and small businesses, with 25 large businesses, 85 medium-sized businesses, and 430 small businesses operating in the city as of 2022.

The city's Gross Domestic Product (GDP) was estimated at £3.1 billion in 2020, contributing 0.2% to the English economy.

Historically, Carlisle's economy was marked by its role as a fortress town and a railway centre. The Industrial Revolution brought textile manufacturing to the city, transforming its socioeconomic landscape.

Recent developments, such as the opening of Carlisle Lake District Airport and the St Cuthbert's Garden Village project, are expected to positively impact the local economy.

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Transport Connections

Carlisle boasts an extensive transport network, including bus, rail, and road connections, providing convenient travel within the city and to other parts of the UK.

Carlisle has a comprehensive bus network, with various operators offering local and regional services. Key bus operators include Stagecoach, Blueworks, Cumbria Classic Coaches, Go North East, and National Express. Bus fares are affordable, with a government initiative previously capping single fares at £2 on many routes across Cumbria.

The main railway station, Carlisle Station provides connections to major cities like London, Birmingham, Manchester, Newcastle, and Glasgow. The Settle-Carlisle Railway offers a scenic route through the Yorkshire Dales National Park.

Carlisle benefits from excellent road links, with easy access to the M6 motorway and connections to the A595 and A689 roads, facilitating travel across Cumbria and the Scottish Borders.

For air travel, Carlisle Lake District Airport serves the city, and larger airports like Newcastle Airport offer additional domestic and international flight options.

Additionally, National Express and FlixBus offer coach services to destinations across the UK, ensuring Carlisle's connectivity with the broader region.

Carlisle's transport connections cater to various travel needs, providing efficient and accessible options for commuters and visitors alike.

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Local Attractions

Carlisle offers a wealth of attractions, catering to history buffs, nature enthusiasts, and those seeking leisure activities. Here are some of the notable amenities and things to do in Carlisle:

  • Carlisle Castle has dominated the city's landscape for over 900 years. It played a pivotal role in the city's tumultuous history, including the Jacobite uprising against King George II. You can explore medieval rooms, dungeons, and carvings made by prisoners.
  • Carlisle Cathedral is the second-smallest cathedral in England boasts Gothic architecture, a stunning East Window, and intricate misericords. It has a 900-year history and is one of the city's most visited attractions.
  • Tullie House Museum and Art Gallery is centred on a Grade I-listed Jacobean mansion and showcases Roman artefacts, Pre-Raphaelite art, and exhibitions on the history of the Anglo-Scottish border.
  • Hadrian's Wall is a fortification, built by the Romans in the 2nd century. This 73-mile-long wall served as the northern boundary of the Roman Empire. You can explore forts, milecastles, and turrets along its length.
  • Birdoswald Roman Fort is located near Hadrian's Wall, this fort offers a glimpse into Roman engineering and border life. It includes ruins, a milecastle, a turret, and interactive exhibits for children.
  • Cumbria's Museum of Military Life is located within Carlisle Castle and showcases over 300 years of military history, featuring uniforms, weapons, medals, and immersive displays.
  • Guildhall Museum is housed in a Grade I-listed 14th-century building. This museum displays various exhibits, including the Shoemaker's Room, the Butcher's Room, and a Victorian civic regalia collection.
  • St Cuthbert's Church is a Georgian structure, dating from the 1770s and is the fourth church on this site since the 7th century. It features a unique movable pulpit and a stained glass window from the 14th century.
  • Lanercost Priory is a 12th-century priory, managed by English Heritage, and was a target of raids during its history. It showcases spolia from Hadrian's Wall and Roman inscriptions in its stonework.
  • The Solway Aviation Museum is located at Carlisle's Lake District Airport. This museum showcases aircraft like the Avro Vulcan B.2 and the Hawker Hunter, as well as military exhibits and the development of the Blue Streak missile.
  • The Settle-Carlisle Railway is a scenic railway line that traverses epic upland scenery, including the North Pennines and the Yorkshire Dales National Park.
  • The Cumberland Bird of Prey Centre is a nature reserve offering experiences with hawks, falcons, eagles, owls, and vultures, guided by trained falconers.
  • Watchtree Nature Reserve is Europe's largest man-made nature reserve spans 200 acres and is home to endangered species, including the Great Crested Newt. It offers trails, bird hides, and vistas of the Lake District and Scafell Pike.
  • Talkin Tarn Country Park is a 65-acre glacial lake that offers water activities like canoeing, sailing, and windsurfing. It also has a rowing club, a tearoom, and mountain bike rentals.
  • Walby Farm Park is an award-winning family attraction with indoor and outdoor activities, including animal encounters, pony grooming, and pedal go-karts.
  • Aira Force Waterfall is a famous natural attraction offering scenic views and walking trails.

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The front gate of Carlisle Castle.
Carlisle Castle

Property Values

Carlisle offers a range of property investment opportunities, with prices varying depending on location and property type. According to recent data, the average house price in Carlisle is approximately £144,731. However, the average sold price over the last 12 months is slightly higher at £165,006.

For those on a budget, flats and houses can be purchased for just over £40,000. On the other hand, detached and semi-detached houses with multiple bedrooms can range from £160,000 to over £250,000.

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Flood Risk and Defence Schemes

It is important to note that Carlisle has a history of flooding, with significant flood events occurring in 1968, 2005, and 2015. Some areas of the city have a 1% annual flood risk rating, a fact which can lead to very low property prices in affected areas. Investors should do their own research when it comes to the reasons for the low asking price of a house.

However, a £25 million flood defence scheme, started in 2019, was completed in 2023, aims to protect over 1,600 homes and businesses. This scheme includes raising flood walls, improving water flow, and enhancing wildlife habitats.

The Environment Agency has been working closely with local communities and organisations to improve flood resilience and protection. Their efforts have already prevented millions of pounds worth of damage, and they continue to monitor and manage flood risk in the city and the surrounding areas.

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Average Asking Price by Postcode Area

Last updated: May 2024

Data from HM Land Registry

Postcode District Average Property Price
CA1 £144,017
CA2 £156,555
CA3 £235,599
CA4 £371,746
CA5 £388,741
CA6 £273,468
CA7 £237,702
CA8 £295,094
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Rental Demand

The demand for rental properties in Carlisle, UK, is high, partly due to a shortage of new housing construction. This trend is not unique to Carlisle but reflects a broader pattern across the country.

As of April 2024, there is a range of rental properties available in Carlisle, including houses, apartments, terraced houses, and bungalows. The average rent in Carlisle is approximately £829 per calendar month (PCM), with prices varying based on the number of bedrooms and the property's location.

For instance, a 1-bedroom flat in the city centre can be rented for around £450 PCM, while a 3-bedroom semi-detached house in a popular residential area may cost around £900 PCM.

The rental market in Carlisle caters to diverse budgets and preferences, with properties ranging from affordable shared accommodations starting at £355 PCM to more expensive options, such as a 4-bedroom detached bungalow for £1,100 PCM.

The demand for rental properties in Carlisle is expected to remain strong, particularly with the ongoing shortage of new housing construction.

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Landlord Licensing

Currently, the only licensing that Carlisle City Council requires of landlords is the standard England-wide HMO licence for houses in multiple occupation.

However, the Housing Act 2004 permits local authorities to introduce 'Selective Licensing' to privately rented properties in specific areas. This requires landlords in those areas to obtain HMO (House in Multiple Occupation) licenses. While Carlisle Council has not yet created any Selective Licensing areas, they may do so if they are concerned about low housing demand, antisocial behaviour, or the need to improve socio-economic conditions in the area.

Carlisle also does not use Article 4 directions in the city which are generally used to require landlords to apply for planning permission before converting a standard residence into an HMO. Like 'Selective Licensing' the authority could introduce this at any time.

As is standard in England and Wales, an HMO license is required for properties in Carlisle with 5 or more residents of more than one household who share facilities.

Before investing in Carlisle it is advised to check with the City Council to make sure there has been no change to licensing rules.

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Aerial view of the city of Carlisle.
The City of Carlisle

The Best Places to Live In and Around Carlisle

When considering the best places to live in Carlisle, factors such as proximity to nature, transport links, schools, and amenities come into play. Here are some of the top areas to live in and around Carlisle:

  • City Centre and Train Station Area: The area near the city centre and Carlisle train station offers convenient access to urban amenities. You can find Victorian terraced houses and townhouses with comfortable living spaces and period features. Brookfield Gardens and Mayson Street are notable locations for these types of properties.
  • Stanwix: Located slightly north of the city centre, Stanwix is a popular residential neighbourhood, especially for families. It offers easy access to the M6 motorway. Stanwix features Victorian terraces, with semi-detached homes from the 1930s and 1940s located nearby.
  • Eden Park and Lowry Gardens: These sought-after developments offer modern living within the city.
  • Dalston: For those seeking a rural lifestyle with easy access to the city, Dalston, located southwest of Carlisle, is a favoured village location. Modern detached homes can be found on streets like Townhead Road, while Carlisle Road offers houses with charming period features.
  • Houghton: Another popular choice, Houghton offers a mix of modern homes and is known for its good schools. Streets like Tribune Drive and Houghton Road are worth considering.
  • Brampton: Situated east of Carlisle, Brampton offers a blend of character homes and 20th-century terraces. Main Street is known for its bay-windowed houses, while Dacre Road features charming terraces.
  • Wetheral, Cumwhinton and Armathwaite: These villages, located southeast of Carlisle, provide sought-after locations that are just a short drive from the city centre, offering the best of both rural and urban lifestyles.
  • Kingstown: This is a desirable area for suburbanites and those seeking detached retirement homes. It offers a range of property types and is known for its sense of community.
  • Belah: Another suburban area with semi-detached homes, popular with older workers and retirees. It provides good access to local amenities.
  • Etterby: Etterby is a peaceful neighbourhood with a mix of housing options, including semi-detached and detached homes. It offers easy access to the countryside and is ideal for those seeking a quieter lifestyle.
  • Durranhill: Conveniently located near the Cumberland Infirmary, Durranhill offers a mix of housing options, including modern apartments and semi-detached homes.
  • Morton: A charming village located south of Carlisle, offering a mix of housing options and a strong sense of community.
  • Burgh-by-Sands: A picturesque village located along the Solway Coast, offering stunning views and a tranquil lifestyle.
  • Longtown: A small town located west of Carlisle, known for its agricultural shows and horse racing events. It offers a mix of housing options and a close-knit community.

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Property Investment in Carlisle

Here are some tips on the different areas of Carlisle, for property investors.

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City Centre

Population: 5,000
Average House Price: £159,400

As a small city, Carlisle city centre doesn’t have the high rise apartment blocks you would normally associate with city living. The east and south sides of Carlisle city centre, in particular, offers both traditional terraced housing plus pleasant, tree-lined streets with some grand old houses. Some of these houses offer flat conversions and house shares and are also popular for student accommodation.

Carlisle city centre property prices are cheap compared to most city centres: Investors can buy a four bedroomed Victorian house for the price of a tiny London flat.

Yields around Carlisle city centre (based on CA3 postcode) are typically 3.5%-4%.

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North Carlisle

Population: 34,000
Average House Price: £155,826

Carlisle’s northern districts include Stanwix, Willow Holme, Etterby, Belah, Knowefield, Whiteclosegate, Moorville, Kingstown, Kingmoor and Rickerby.

The northern suburbs are separated from the rest of the city centre by Bitt’s Park and the River Eden, making them almost like a town within the city. It’s a popular residential area with its own shops, schools and local services, a University of Cumbria campus and Carlisle’s largest business parks offering lots of jobs.

As with all Carlisle suburbs investors can choose from a wide range of property from traditional terraced houses, flats (mostly in small blocks) and estates with semi-detached and detached houses.

Yields here are likely to be around 3.5%-4%.

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South East Carlisle

Population: 24,240
Average House Price: £137,700

Suburbs in the south-east of Carlisle include Botcherby, Durranhill, Currock, Upperby, Harraby, Garlands and Sandsfield Park. These areas are good for access both into the city centre and M6.

Yields here, mostly within the CA1 postcode, are 4%.

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South West Carlisle

Population: 34,500
Average House Price: £125,310

South-west Carlisle suburbs include Caldewgate, Newtown, Bellevue, Morton, Morton Park, Denton Holme and Longsowerby.

As it’s the cheapest area for property overall this part of Carlisle, based on the CA2 postcode, offers investors yields of upwards of 5%.

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Other Areas To Consider

Two other areas property investors might consider include the Wigton area and Brampton area.

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Wigton

Population: 5,800
Average House Price: £186,588

Wigton is a market town in a mainly agricultural area 10 miles south-west of Carlisle. Wigton is still in Cumbria but in Allerdale borough. It has a busy cattle market plus its own local industry. Global company Innovia Films Ltd. is a large local employer.

Yields in this area (CA7 postcode) are likely to be at least 3%.

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Brampton

Population: 4,600
Average House Price: £173,509

The pretty market town of Brampton is 9 miles east of Carlisle. Together with the villages along the Eden Valley, it is a smart residential spot for Carlisle commuters. It’s also a popular spot with tourists and walkers. Hadrian’s Wall, Lanercost Priory and Birdoswald Roman Fort are a short drive away.

This area (based on CA4 and CA6) offers around 3% investment yields.

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