A location on the doorstep of national parks and nature reserves, with connectivity by road and rail to cities, airports and universities, Taunton is attracting people and businesses to the area.
Taunton: A City Guide for Buy-to-Let Investors
Set in the heart of the West Country and the County town of Somerset, Taunton is an ancient town with a bright future. The recently obtained status of Garden Town is testament to the abundance of green spaces within the city and the ambition of the Somerset West and Taunton Council to regenerate the area. Their Vision 2040 aims to act as a catalyst to turn Taunton into the best place to live, work and do business in the UK, making it the next major hotspot for buy-to-let investors in the South West.
An Introduction to Taunton
Taunton is situated on the river Tone in the South West of the U.K. The town has over a thousand years of history, with its remaining Norman castle testament to its age. Sandwiched between the Quantock and Blackdown Hills areas of outstanding national beauty, Taunton is surrounded by stunning scenery and landscapes, and is also within reach of the beaches in North Devon and Cornwall. Its position is one of the biggest draws to the area, well connected to major cities, including Exeter and Bristol, but surrounded by natural beauty. Taunton’s scenic location is the foundation of its surge in popularity and growth. The natural surroundings are attracting workers seeking improved lifestyles and a new way of living, providing the ultimate work life balance.
The town itself is undergoing major development. Huge investments to attract people, businesses and innovation to the area is underway. The town centre and several neighbourhoods are the target of regeneration. Sustainability and the environment are at the heart of the growth, with plans to enhance the green areas, parks and the river Tone within the town, and increase the walking/cycling connectivity between neighbourhoods. Promoting the area as one with low commercial costs but established connections to nearby cities is drawing new business to the town, while investment into the town’s Musgrave Park Hospital and nearby Hinkley Point C Power Plant are expected to bring further prosperity to the area. With a sharp population increase forecast over the next decade, Taunton is a great opportunity for investors expanding their portfolios.
"Taunton is a town undergoing unique levels of growth and change, with a number of factors contributing to the town being a great candidate for buy-to-let investors."
Why Invest in Buy-to-Let Property For Sale in Taunton
Taunton is currently experiencing rapid growth, with several new developments planned for the town. There are several major projects underway, including enhancement to the town centre with increased retail capacity and connected walk/cycleways to nearby neighbourhoods. The river Tone is a focal point of the development, with a new cultural quarter along the river attracting boutique business, along with other sites for renovation. The council has set out its 2040 Vision for the town to unlock private and public investment to make the town the best place to live and work.
One of the biggest benefits of Taunton is its countryside and nature offerings whilst retaining strong connections to cities and infrastructure. The town is well connected by road with direct access to the M5 and there are two international airports, Bristol and Exeter, within 40 minutes by road. Thanks to a recently completed multimillion-pound renovation of Taunton’s train station, the area is also well connected by rail. You can reach Bristol in 30 minutes and London Paddington in just over 90 minutes. The investment in the railway station, improving further public transport links and opening a multi-story car-park, is expected to double the number of train visitors to the town over the next decade.
Cheap overheads and investment into several sectors are attracting new businesses to Taunton. Quality commercial spaces, at a much lower cost to other areas in the South West, provide great opportunities for businesses, while remaining close to two research intensive Russell Group Universities and the South West tech cluster. Plans to transform Taunton’s Musgrove Hospital have provided significant funding in the area’s healthcare and medtech sectors. Just 17 miles north of Taunton, the new nuclear power station, Hinkley point C will also provide additional housing needs in the town, and attract talent and business to the area.
Sustainability and Green Sectors
Sustainability is at the heart of Taunton’s recent growth. The local council aims to become carbon neutral by 2030, and Climate Emergency UK ranks Somerset West & Taunton as the top district council when it comes to Climate Action Plans. There are aims to build energy efficient houses, offices and infrastructure with the latest sustainable technology. There is also a focus on retaining and celebrating the green and natural areas in the town. There is investment into public transport links as well as promoting and designing pedestrianised and walking/cycle connectivity in the town.
In Somerset West and Taunton, the population size has increased by 8.7%, from around 144,900 in 2011 to 157,400 in 2021. This is higher than the overall increase for England (6.6%). Forecasts predict a further 25% increase by 2028, and the significant demand for new rental properties in the town is perfect for buy-to-let investors in Taunton.
Combining the best of countryside living with excellent business prospects is one of the biggest draws of the town. The surrounding rolling hills and nearby Exmoor national park is a huge pull for workers looking for a more balanced lifestyle. There has been a growing demand for property in Taunton, with price increases in Taunton were the highest in the UK for 2021, with 21.8% compared to a national average of 6.2%.
The quality of schools in Taunton is attractive to families, with more than 90% of schools in the region judged to be good or better (compared to a national average of 84%). There is an abundance of green spaces within the town, as well as a thriving arts and cultural scene. International sporting events take place at the county cricket ground, and an annual music festival and flower show takes place within its Vivary Park.
Current developments cannot keep up with demand, making Taunton a perfect opportunity for investors looking to expand their portfolios.
Investing in Taunton Buy To Let Properties
The town of Taunton is undergoing dramatic change thanks to an influx of businesses and workers looking for a more balanced lifestyle. Funding to develop the town into the most desirable place to live and do business is catalysing the change in the area, and the town is now the investment hotspot of the South West. The town is evolving fast, making it a unique opportunity for buy-to-let investors.