With house prices continuing to rise in many regions of the UK, the question all investors are asking is – where is the best place to get a great return on investment? Although some areas of the country have become prohibitively expensive, there are still several locations where clever investors can find cheap properties, which yield good rental income, not to mention capital growth.
Property Investment Opportunities – The Real Picture
Although common conception is that property prices are spiralling ever higher, the reality is actually rather different. In fact, according to Zoopla, 29% of properties currently listed for sale have had to reduce their asking price at least once since coming to market.
That means, for buyers, there are plenty of property investment opportunities. It’s mainly a matter of identifying the right area to invest in – and haggling hard for a good price.
Investing in Property in the UK – Which Areas?
- Barnet. According to Zoopla’s figures, the north London borough of Barnet has seen the most significant reduction in house prices – a whopping 10.82%, which equates to £120,969 on average. Close to a quarter of all homes in Barnet are reducing their asking price – so it’s a great place to seek out property investment opportunities, especially given its proximity to the capital.
- Oxford. Oxford has also experienced a slump in prices recently, with price reductions equalling 8.71%, which is £39,890 off the asking price, on average. As Oxford is a university city, it’s a great place for investors seeking out buy-to-let property for sale, with a view to renting to students.
- Romford. With commuting times of just 17 minutes to London Liverpool Street, it seems astounding that prices have dropped in Romford. However, figures show that average asking prices have been reduced by 8.49%, which equals an average of £36,529 off asking price. It’s an ideal area for investors wanting to rent to young professionals.
- Coventry. Away from the capital, Coventry has also seen a reduction in prices. House prices are being reduced by 10.43% on average, which is approximately £27,320 per house sale. In addition to being a popular place to live, Coventry also has a university, which is welcome news for investors wishing to rent out HMO accommodation to students.
- Haverford West. In Wales, the number one place to consider investing in is Haverford West. Asking prices have reduced by an average of 10.14%, which means, if you purchase in the area, you’re likely to save £25,208 on your purchase.
The Buy2Let Shop in Bromley
Investing in property in the UK is always a good idea – particularly if you want to generate a rental income. If you’d like to find out more about investment properties in London or any other location in the country, talk to The Buy2Let Shop.
We’re a team of property investment specialists in London, and we’ve got many properties on our books that aren’t available on the general market – which means you’re guaranteed a great price. We also offer assistance with buying a house at auction, and hold regular property seminars, to help bring your knowledge of the market up to speed.
To find out more, simply get in touch with The Buy2Let Shop team today.