Top Property Hotspots Of 2019
Thinking of investing in property in the New Year - as a landlord or to secure a home of your own?
The North of England
Housing market profits in England’s northern areas are expected to outperform the rest of the country this year, leading many to dub Manchester the “London of the North”. Manchester is a particularly great location for current or wanna-be landlords, with many new developments suited to students and young professionals, such as the new Salford Quays complex, in the works in the North’s buzzing city. The city will also see an extension of the MetroLink tram system shortly, as well as further development of the Northern Powerhouse.
Around 30% of Manchester’s housing is now in the private rental sector, and profit returns for landlords are higher than in larger cities such as London, making it an ideal spot for landlords to place their money.
In contrast, neighbouring Liverpool is a wonderful location for young families to consider. With the cost of living low, job opportunities good and beautiful countryside and beaches nearby, as well as good schools, the home of the Beatles is an increasingly popular choice for young families, especially those moving from London. To put the cherry on the cake, it turns out Liverpool is also a fantastic option for landlords. In June of last year, return yields were reported to be at a whopping 11.79% in the Northern city!
The middle region of England is a desirable location for those wishing to keep their jobs in the Capital. Currently, many areas in the Midlands are 1 hour and 21 minutes commute to London. Once the HS2 arrives, passenger will be able to travel to the capital in just 50 minutes. In addition, the Midlands offers affordable housing, better returns on your investment (some regional cities offer returns of up to 8.7%) and a more relaxed lifestyle.
For those not quite willing to give up a buzzing inner-city lifestyle but still wanting a more affordable living arrangement, Birmingham can be a great choice.
If you are a savvy landlord, Nottingham is a promising option. While property prices in Nottingham are relatively cheap, with an average of £86,000, rent prices remain high, with an average rent price of £550 pcm. This makes the rental yield almost 7.7% due to the demand of rental properties from students and young professionals.
If you just can’t give up the buzz of London, there are a few areas that look particularly promising for property investors this year.
The first is North-West London, which will be soon undergoing a major renovation worth £4.5billion in Cricklewood and Brent Cross. The massive project will provide 7,500 new homes, 27,000 new jobs and will transform urban spaces through new leisure facilities and improved green spaces. The Brent Cross shopping centre is set to double in size, including a new cinema and hotel.
Other promising parts of LDN include West London (the Crossrail will come into effect here this year), with White City and Earling popular choices.
Regardless of where you decide to purchase a property, you must enlist the assistance of an experienced conveyancer. GWlegal are here to help...
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Content correct at time of publication.