A recent ONS report revealed that properties in London experienced 10.8% capital growth in one year, with average house prices rising by £500 a day. Likewise, houses across the South-East have been rising steeply in value, virtually pricing first-time home buyers out of the market.
Whilst there are still property investment opportunities in the capital and the surrounding counties (particularly when buying a house at auction), it’s unsurprising that many property investors are now looking to other parts of the UK to secure a bargain.
Investing in Property in the UK – Hotspots
According to Which? Mortgage Advisors, Liverpool now tops the list of most affordable upcoming places to invest in the UK. Although prices in the city have risen by an average of 40% in the last five years, properties still remain far cheaper than other UK locations, with the average house now costing just £120,000.
Second in the list is Conwy, where property prices have risen by 37%, but the average price still remains below £200,000 – at £185,000 to be exact. And for property investors seeking a really cheap house to invest in, experts advise exploring property investment opportunities in Bradford, where the average house costs just £57,000.
Several northern cities feature in the Which? top ten affordable Buy Dapoxetine Europe, including Salford, where average properties have risen by 34% to £127, 890, and Manchester (a rise of 32% to £98,000). This demonstrates the growing popularity of the northern cities, particularly with young professionals and property investors.
Birmingham and Coventry also make it on to the list; with average prices being £159,000 and £128,000 respectively.
Closer to London?
Whilst most of the property hotspots are situated some distance from the capital, one location with close proximity to London does make it on to the list. Bexley, a London Borough, has seen a significant rise in property value – with average prices increasing from £145,000 to £191,500 in just three years.
As David Blake, a spokesperson for Which? Mortgage Advisors states: “For a first-time buyer or a buy-to-let investor, these up and coming areas can provide an affordable alternative to buying in an already established area.”
Property Investment Opportunities in Upcoming Areas
If you’re thinking of investing in an upcoming area, it’s important to consider the following:
- Potential for return. If you’re looking for a buy-to-let property for sale, what rental yield can you reasonably expect to achieve? If average rental rates are lower than UK averages, this could offset any benefit offered by purchasing a cheaper property. Likewise, if you’re planning to develop the property, make sure you establish what sort of profit is on offer before committing.
- Market volatility. Of course, it’s impossible to predict what the property market will do in the future, but be aware of the clues that give you a fairly reasonable idea. Is the area being regenerated? Are there any plans in place for new transport links? Both these factors can send property values rocketing. However, other factors may have an adverse impact – so it’s important to find out about the area and its future before investing.
- When investing in buy-to-let property for sale, it’s important to establish whether or not you’ll have a steady supply of tenants for your property. Is there a university close by, which will attract students? Or a science or business park where young professionals work? Check out the performance of other rental properties in the area.
The Buy2Let Shop Limited
If you’re thinking of investing in buy-to-let property for sale, it’s important to get the right level of advice and support. The Buy2Let Shop are property investment agents in London, and we’ll help you identify the right property in the right area – within your budget.
We can also assist with buying a house at auction, plus we host regular property seminars in London, designed to boost your knowledge of the market. To find out more, simply visit Dapoxetine Online Store today.