Is the North of England really a property hotspot?
The team at Property Life News recently posted an article about the latest Spotlight on Rental Britain report from Savills.
The report from the property experts named the UK’s top locations for buy-to-let property investments. All four of the top locations were outside of London, with the number one slot awarded to Manchester.
In the report, Savills named 29 locations for buy-to-let investment, many of which are located in the North of England. Read full article…
What’s more, specialist property company Experience Invest recently named what they consider to be the top 5 cities in the north for property investment. The Company placed Liverpool in the number one spot, followed by Manchester, Newcastle, Sheffield and Leeds.
This regional report suggests that rising property prices in London have forced investors to look elsewhere for better returns from their real estate investments.
The Northern Powerhouse
It would seem that opportunities in the north are paving the way for higher yielding investments. Lower entry level properties coupled with a rising demand from renters has made some key cities more attractive to investors.
And it’s not just the region’s buy-to-let market which has been expanding. New research from CoStar shows that investment in commercial property in the North East grew faster than anywhere else in the UK.
Last year over £1 billion worth of investment in commercial property in the North East was purchased by investors – a notable 32% increase.
The Northern Powerhouse concept appears to have played a part in changing attitudes towards investing in the north. The idea to transform the region through investment in transport links and roads, through economic growth and supporting business in the regions has spiked investor interest.
Despite the clear investor interest in the North of England, it is yet to be seen if the area is able to live up to the high expectations which have been set. Only time will tell if this trend is one which will continue.