5 Best Places in The UK To Buy Investment Property
2018 will see no dampening of investment appetites, with interests rising only a fraction and certainly not enough to dissuade investors from purchasing property. Prices in London, especially those in the inner city, continue to increase with many young professionals feeling priced out from those locations and looking to commuter towns instead. This bodes well for potential landlords since there’s no signs of the rental pool shrinking anytime soon. Read our guide to the best commuter towns for 2018 to make the best investment purchase for you.
About 25% of Nottingham’s population is aged between 16 and 24 – the prime demographic to look for rental property. The city is also home to University of Nottingham and, whilst you may not think it ideal to rent to first year students, there’s opportunity to attract post-graduate students who are more likely to look for a higher calibre of accommodation. The city is surrounded by beautiful countryside locations: Vale of Belvoir, Sherwood Forest (of Robin Hood fame) and Peak District. All this, plus excellent travel connections, make Nottingham a very attractive option to prospective renters and buyers alike.
This commuter town has always produced good return on investment but recently the rate of growth has been phenomenal, with average increase of just under 60% for property prices between the years of 2007 and 2017. Its proximity to London certainly makes it attractive to anyone looking for reasonable rents and commutes; a direct 26-minute train runs to King’s Cross whilst the Great Northern railway extension will bring further connections to stations like Farringdon and London Bridge, alongside Gatwick and Brighton. This is likely to make this already popular location an even better investment hub.
London Borough of Redbridge
Redbridge has been gaining appeal for quite some time now, especially with property prices on the Central line rising stratospherically and with no signs of stopping. In the decade from 2001, Redbridge’s population rose by just over 15%, maintaining this leafy borough’s population. It’s a good area for families with well-performing schools and there are a number those all-important transport links.
In 2017, Liverpool earned itself the title of the best place in the UK for rental returns and it remains a great option this year too. This is in part due to a large student population as Liverpool University attracts hundreds of thousand of people each year. The distance to London is unlikely to make Liverpool a commuter hotspot but the city itself has enough to offer professionals and students in terms of employment opportunities and vibrant lifestyle options that you’re not likely to be short of keen renters.
This is one to watch as the Chancellor recently allocated considerable funds to the Cambridge/Milton Keynes/Oxford corridor to help build new homes and transport links. It’s fantastically located between many different hubs making it an attractive mid-point for professionals who don’t want to pay the premium prices of adjoining locations.
Whatever you decide, remember that as a prospective landlord you should approach property investment armed with all the facts. Make a checklist of the potential responsibilities you’ll be liable for and consider safeguarding your property with landlord insurance in case of unpredictable circumstances. There has never been a better time to look beyond London for your investment property, with many areas promising a far higher rental yield than even London currently can.