UK property investors are somewhat spoiled for choice when it comes to selecting the right destination for their next purchase. The days of the market being driven and dominated by London are over, with regional locations now providing just as many – if not more – opportunities to secure profitable investments.
The capital continues to offer great potential, of course, but buyers who want access to the widest possible range of prospects should also be looking to regions such as the north-west and north-east, as well as London’s commuter belt.
Here are four particular locations worth considering in 2019…
One of the cities at the forefront of northern England’s steady regeneration in recent years, Manchester offers a lot of potential for property investors seeking strong capital growth and reliable rental yields.
The LendInvest Buy-to-Let Index for November 2018 showed rental yields of 5.29 per cent in Manchester, while Hometrack’s latest UK Cities House Price Index revealed year-on-year price growth of 5.8 per cent.
According to research conducted by Experience Invest, 33 per cent of investors are thinking about buying in Manchester in 2019, putting the city just behind London (35 per cent).
Manchester’s north-western neighbour, Liverpool could be an even more attractive option for investors seeking healthy capital growth, with Hometrack data showing that house prices in the city rose by 6.3 per cent in the year to December 2018. Despite this, Liverpool had the lowest average price (£121,900) of any of the 20 cities surveyed, suggesting there are some bargains to be had.
A quarter (25 per cent) of investors surveyed by Experience Invest said they were considering a purchase in Liverpool this year, making it the third most attractive location for UK property investment.
One of the strongest features in the city’s favour is its large and growing student population, which reassures investors that developments like Aura Student Liverpool will attract strong tenant demand.
Newcastle is another famous city in the north of England that is enjoying a wave of regeneration and commercial growth under the government’s Northern Powerhouse strategy.
The potential of this culturally unique destination on the banks of the River Tyne is not lost on investors, with 12 per cent of survey respondents thinking about buying there this year.
Like Liverpool, Newcastle is home to a number of higher education institutions and a thriving student population, meaning owners of units at Opto Student Newcastle can expect consistent demand for rooms.
The vast range of business and employment opportunities on offer in London means people still want to work in the capital, but high property and living costs make residing in the city an unfeasible option for many.
As a result, surrounding towns in London’s commuter belt are growing in appeal, and Luton is one of the most popular of all. Estate agent Jackson-Stops recently named Luton the top commuter hotspot for the second year running, thanks to factors including relatively low house prices and short journeys into London.
Current opportunities in Luton include Imperial Square, an off-plan development comprising one and two-bedroom apartments in the centre of town.
To find out more about this and other exciting investment prospects all over the UK, contact Experience Invest today.