Thinking about investing in property in 2018? Here are the best places for you to consider.
Property investment is a big decision, and a constantly shifting market doesn’t make it any easier. From the recent rise in interest rates for the first time in ten years to changes in Buy to Let regulations, there are plenty of factors to take into account when thinking about property investment – and that’s without even mentioning Brexit (which, according to a recent survey, is seen as favourable to the UK property industry by just 9% of professionals).
But of course, one of the biggest aspects to consider is where to actually search for a property to invest in. Location is a huge part of house hunting, which is why we’ve gathered this information regarding the best places in the UK to invest your money in 2018.
The best place to invest is…
The 2017 Property and Construction Outlook survey from Crowe Clark Whitehill has reported that almost a third (31%) of property professionals feel that the South East is the region that offers the best outlook for property investment over the next 12 months. This result excludes London.
CEO of Assetz Capital, Stuart Law, explained these findings further. Law said:
“Most investors are seeking capital growth, and with London now flat, or falling, it is unsurprising to see that the South East is felt to be the most lucrative geography for investment by this survey.”
In other words, the residential slow down of the capital is helping to boost the investment potential of the South East, though other areas are also experiencing a rise due to this. Indeed, many have looked to firms like Peter Hall Middlesbrough further north to see if there are any potential options for them to invest into in the future.
Another key factor in the rise of South East investment is the development of Crossrail.
Where else should you consider?
The same study also found that the West Midlands and the North West were next on the list, with 19% and 13% respectively. In particular, Birmingham has become home to the biggest professional and financial services sector outside of London, and its central locations and good road and rail networks are becoming increasingly attractive to those looking to invest in property in the UK.
Stuart Law, when asked about the results, said that they were not surprising. He said:
“The Midlands and North West, in particular, are much more attractive on a yield/income basis, so expect these regions to continue to climb in popularity.”
Elsewhere, Manchester is proving itself to be a serious contender in property investment. As the fastest growing city outside of the capital, Manchester is also home to some of the country’s biggest regeneration projects.
Now is a particularly good time to invest in property in Manchester, with high return on investments (ROIs) in districts such as Fallowfield, Salford and Chorlton. Although prices are rising rapidly, yields still average twice those on offer in London. It also has a six-figure student population, making it a good option for any Buy to Let investors.
Liverpool is also proving itself worthy of property investment, mostly due to its large-scale job creation and inward investment. It has the fastest growing economy of any UK city, including flagship investment projects like the 5 billion Liverpool Waters scheme.
Like Manchester, there is potential to make use of the high student population in Liverpool, as 60% of graduates choose to remain in the area full-time. And though house prices are increasing, they are still among the lowest in England.
It’s always best to do your research before making any final decisions about property investment. Take some time to speak to the experts at Glenhawk in order to gain a clearer understanding of your circumstances and options. Visit Glenhawk for more information.