Buy to let is a great property investment here in the UK. Demand for good rental accommodation is at a high, with more and more people seeking cost-effective rental options throughout the country. With the UK population steadily rising alongside house prices, buy to let is one of the best property investments to make this year.
Location is vital for any investment property. When it comes to renting property, you need to find a location that is showing signs of growth but still has relatively low property prices to maximise your return on investment. Thankfully for investors, there are many locations around the county that fit this bill.
Here are a few of the best locations for investment property in the UK:
Manchester
As one of the fastest growing cities in the UK, many investors have taken advantage of house prices in Manchester, letting property to students and residents in and around the city. With both capital gains and rental incomes staying strong over the past few years, investment property in Manchester is still worth pursuing.
Better still, the ripple effect of a strong housing market is likely to reach areas in the surrounding Greater Manchester. For instance, Stockport has enjoyed a rental price increase over the past year, resulting in rental yield currently that sit at around 3.75%.
Liverpool
You may notice a trend – Northern cities are now home to some the best investment properties currently found in the UK. Liverpool is another rising area that has benefited from extensive regeneration over the past decade.
However, housing prices in Liverpool have yet to fully recover from the 2008 crash, which is great news for anyone seeking a great investment property. This market isn’t going to fly under the radar for much longer, especially as further developments are completed, so make sure to jump on the wagon now to ensure the highest possible yields!
Leeds
While Leeds isn’t enjoying the growth at the same pace as fellow northern cities like Manchester and Liverpool, it does have one of the fastest growing populations in the country. This means demand for property is only going to increase in the future – music to the ears of anyone seeking good investment property.
Better still, Leeds underwent massive construction projects that saw several apartment complexes completed in 2008. Due to the economic crash, demand for these properties were much lower than anticipated, resulting in an oversupply of property.
However, since the population is growing and there are no new property developments, Leeds will soon find itself with an undersupply of property. Add in a multi-billion-pound development in the city and it’s clear that property demand in Leeds is only going to increase further.
Colchester
Not all the best locations for investment property in the UK are found in the north – areas like Colchester represent the rising locations in the south. Situated a short distance from London and boasting incredible transport links and some great schools, Colchester has all the hallmarks of a rising property location.
Rental growth prices have risen to 6.5% and is driven by younger people not looking to get onto the property ladder, so make sure to take advantage if you’re looking for a buy to let property investment in the UK!