Are you looking to invest in property in the UK? If so, you probably have plenty of questions about where the best places to invest are, what type of properties you should invest in, and whether or not it’s a good idea.
Here we’ll aim to answer all of these questions and give you a lot more clarity on what your next move should be. We’ll start by looking at the best places in the UK for property investment. Let’s get started!
Which Parts of The UK Are Best To Invest In Property?
There are many great places to invest in the UK, but some are better than others. That’s why we wanted to come up with the top five cities which are almost guaranteed to offer you a great investment.
Birmingham is often at the top of the list when it comes to the best places in the UK for property investment. That’s largely in part to the incredible regeneration that the city has seen in recent years. It also has a strong economy and impressive transport links to the rest of the country. As a result, there is plenty of demand in the city, and houses are affordable, with an average price of a little over £200,000.
Derby is another city with a strong economy and a relatively affordable property market. The average property price in Derby is around £180,000. It is home to several large employers, such as car giants Rolls-Royce and Toyota. There is also a growing tech sector in the city. Added to this, it has a young population with many universities close by.
Leeds is a major financial hub home to several large corporations, including First Direct, Yorkshire Bank, and Asda. The large student population makes it a brilliant location for buy-to-let investors. The average house price is a touch higher at £205,000, but that is still cheaper than many areas of the country.
Manchester has a thriving property market. Due to this, many are starting to see it as the London of the North. It has a diverse economy, with a strong focus on finance, media, and technology, and is home to several large universities. Average prices are around £215,000, which is soon expected to rise.
Liverpool is another city that has seen significant regeneration in recent years and is known for its strong property market. It has a growing economy is home to several large employers, including Jaguar Land Rover and Unilever. It’s also one of the UK’s most affordable parts, with an average price of £190,000.
6. Look for Opportunities
As you can see, all of those places share similar qualities. They are all places where house prices have traditionally been quite low but where there is a lot of regeneration.
Which Property Types Are the Most Desirable
The most desirable property types can change from one area to the next. However, you usually want to look for properties that are in high demand or will offer excellent rental yield. In that respect, these are the best property types:
HMOs, or house in multiple occupation, are properties rented out to tenants who share communal spaces like kitchens and bathrooms. HMOs can attract investors by generating higher rental yields than traditional buy-to-let properties.
New build properties are often in high demand, particularly in areas with a housing shortage. New builds can offer a range of benefits, including energy efficiency and modern amenities, and may also come with a warranty or guarantee.
Student accommodation can be a particularly attractive investment option in areas with large student populations, such as university towns and cities. Purpose-built student accommodation can offer a reliable source of rental income.
Should I Invest in Buying a Property?
Whether or not to invest in buying a property depends on your circumstances, financial goals, and risk tolerance. Here are some factors to consider:
Buying property is one of the biggest financial commitments people can make. You need to weigh up whether you can afford it, including worst-case scenarios such as tenants not paying rent. Before purchasing, you need to weigh up your return on investment and other financial calculations, such as rental yield.
What are your investment goals? Are you looking for a steady rental income stream or long-term capital appreciation? For example, HMOs are great for rental income but new builds are a more attractive option for capital appreciation.
Buying a property can require a significant time commitment, particularly if you plan to manage the property yourself. Consider whether you have the time and resources to manage the property effectively.
Investing in property, like any investment, carries a degree of risk. Consider your risk tolerance and whether you are comfortable with the level of risk associated with investing in property.
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