UK Property Investment Locations for 2017
With uncertainty hanging over the UK economy, London rents looking lacklustre, and a whole raft of exciting things planned for various regions, many property investors are finding it harder and harder to answer the old question of location. However, there are a number of locations which agents and analysts believe are promising places to buy into this year, including:
The Greater Manchester area is set to benefit from a whole load of investments, improvements, and economic stimuli in the next few years as a key part of the Northern Powerhouse. Salford is one of the parts of the specific areas in the region which seems to have a particularly exciting time lined up. It is already reaping the benefits of MediaCityUK and the resultant influx of media businesses and young professionals, and this is only expected to keep growing as time goes on.
Derby has a few attractions for property investors right now. Its location in the East Midlands is one, at least from a certain viewpoint, as this is an often-overlooked and in many ways underappreciated area. Derby is also a place poised to take a likely step upward very soon. The opening of the HS2 high-speed rail line will bring significant benefits to Derby, which is home to one of the world’s biggest collections of railway companies, and this is likely to impact very positively on property values. BNP Paribas predicts growth of 23.3% by 2019.
Another prime Northern Powerhouse beneficiary, Liverpool has been a firm favourite among investors for a while and it is widely expected to remain a solid choice this year. The market is high-demand, offers decent yields, and is fast-growing, yet at present property prices remain impressively (and surprisingly) low making this a much more accessible prospect than most comparable urban markets. Add upcoming programmes designed to improve transport in the area and stimulate business, and it is pretty clear why the city is a popular choice.
East Anglia has been predicted by the likes of Savills and Rics to have the fastest-growing property prices in the UK, with the former forecasting growth of 19%. New Towns are already averaging higher than the country as a whole in terms of price growth, and Peterborough ticks both of these boxes for investors. Add the fact that it is a town just an hour from London and also popular with those who work in Cambridge but don’t like the property prices there and it is a very promising package. On top of all this, Peterborough also has a younger-than-average population with those under 30 – the age group that is most likely to rent rather than buy – making up 41% of the town’s population. This helps to establish and perpetuate a better-than-average demand base, and when the UK as a whole is already undersupplied this is not exactly something to be sniffed at.
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