Property in the North West is highly investable.
Recent findings by HSBC reveal that Manchester has the 7th fastest growing rental yields in the UK and Manchester, Blackpool and Liverpool all made it onto the top 10 list of buy-to-let hotspots according to rental yield. Blackpool was found to be the seaside town with the best rental yields in the UK (7.81% before tax).
According to research conducted in 2014, almost two-thirds of investors in Northern properties are from the South East, with over a third from Greater London. Many Northern cities offer lucrative investment opportunities, with average gross yields in Manchester being twice as high as those in London. With doubt over the stability of the London market, investors are turning their gaze northwards to further expand their portfolios and benefit from the better rental yields Northern cities currently have to offer.
National and international investors have poured more than £2.1bn into the North West economy this year alone. Overseas investors invested £354.4m into the property market in 2014, and this accounted for a tenth of all overseas investment during this year. Mark Ellis, the MD of SME Real Estate for Lloyds Bank Commercial Banking, has noted how the North West has been incredibly strong in recent years and that investment in the region will only continue to increase, as the North West is “still edging past its pre-crisis peak”.
With the North West viewed as a stable and resilient hub for property investment, and the consequent lure of international finance to the area, it only looks as if a positive feedback loop will ensue within the market, further benefiting the region.
Blackpool has a great deal to offer, with its famous Pleasure Beach theme park offering a plethora of fun activities for all ages, attractions such as the Blackpool Tower, with its daunting SkyWalk, and some of the best fisheries in the country. The city has undergone a recent renaissance of sorts, with promenade improvements, the Talbot Gateway regeneration scheme and a flurry of boutique hotels having cropped up in the area. It is now an up-and-coming area for families and young couples.
Whether you are looking for a family home or a buy-to-let investment, the North West is currently high on the list of places to invest in on the UK property market, and only looks set to improve.
You May Also Enjoy
How to Become an Estate Agent with No Experience
9 Advantages of Selling Your House by Auction
Majority of Tenants Unsure How Changes Will Affect Them, Says LRG
Perfume Storage Tips: How to Keep Your Fragrances Fresh
Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords
