UK property is currently performing well, particularly in major regional markets, and is proving popular…
When looking at potential locations for property investment, in particular buy-to-let, the desire for the best returns often has to be balanced against the desire, or necessity, to stay within an investor’s geographical locality. Even when landlords use agents, there can still be advantages to being within convenient travelling distance of an investment property. With this in mind, we’d like to highlight four areas, in different parts of England, where we foresee compelling investment returns for 2017 and beyond.
London – The Crossrail Route
The anticipation of Crossrail has already started to influence prices over the last few years and has provided an incentive to some local councils to step up regeneration plans. There are three areas we’d like to highlight for particular attention and they are Wood Green, Hornchurch and Ilford.
These localities are already attractive places to live, which are currently overshadowed by neighbouring areas for various reasons. They also have good existing transport links, but Crossrail will provide a significant boost to them. In short, when dealing with a mature market such as London, the key to getting the most out of any property investment is to look for up-and-coming areas and even though house prices in these areas have already risen significantly, we believe that there is still substantial opportunity for both growth and yield.
Basingstoke and Peterborough
A similar distance from London, to the West and North respectively, Basingstoke and Peterborough also have similar attractions in the sense that they both combine strong local economies, with a feasible, regular commute to London and at least one other major economic hub (Reading and Cambridge respectively). In terms of buy-to-let, Basingstoke tends to be more of a market for adult workers, whereas Peterborough has a higher percentage of students, due to the proximity of Cambridge.
It’s probably common knowledge by now that the North of England offers rich pickings for property investors. We could point to Birmingham, Manchester and Salford, Liverpool and Leeds and wax lyrical about their progress and the potential they still offer, but at this point we doubt we’d be telling you anything new.
So instead, we’d like to point you to Derby. The main reason why we think that Derby is going to become one of the UK’s most exciting housing markets is because it’s long been associated with the train industry and as such is pretty much guaranteed to be an integral part of the HS2 project. We appreciate that HS2 is rather controversial and that, hence, there are strong feelings about it both ways.
The simple reality, however, is that there appears to be cross-party consensus that it is desirable and hence it is almost guaranteed that it will ultimately go ahead. Therefore, the question becomes how to make the most of it. Even if, for some reason, HS2 itself is cancelled, the fact still remains that there are many reasons why the UK’s rail infrastructure needs to be upgraded in one way or another and hence why Derby is likely to join the ranks of Northern Powerhouses.
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