One of the biggest markets when it comes to UK property investment is the student housing market. Home to some world-class universities such as the University of Liverpool and the University of Manchester, the North West attracts huge numbers of students each year, boosting demand for student accommodation. With student accommodation often being a lot more affordable than residential property types, investors can purchase a student property for as low as £59,995 with Liverpool’s City Point development, then benefit from a high level of expected growth.
Regeneration plays a big part in the growth of the region, with the North West undergoing a number of big redevelopment schemes. Some of the most extensive regeneration schemes of the last ten years include Salford’s MediaCityUK which completed in 2011, and Liverpool’s Liverpool One scheme which opened in 2007. Future plans for North West England include Liverpool Waters, a £5 billion regeneration scheme which aims to revitalise parts of the historic Liverpool docklands, along with the much anticipated Northern Powerhouse Rail project which will improve connectivity between the North of England’s key cities and encourage more growth in UK areas. Areas that are being transformed and regenerated are known to have thriving property markets, and this is certainly the case for the North West region and a factor that has contributed towards the house price growth Manchester, Liverpool, and other towns have seen.
House prices North West forecast
So what does the future have in store for the North West region in terms of house price growth forecast predictions? House prices in the North West for 2019 are at an all-time high, and predictions show that growth is set to continue. According to predictions by Savills, properties in the North West are expected to grow by 18.1 per cent by 2022. During the same period, the UK is predicted to increase by around 14 per cent, which shows that this Northern region will remain at the forefront for UK investments.
If you’re thinking about making an investment of your own or buying a new home in the North West, now is the best time to do so. Prices are currently highly affordable, and with big growth on the horizon, you can benefit from impressive returns when you choose to sell the property further down the line. If you do decide to buy a property in the North West, however, be sure to do your research on the most high-performing locations and postcodes. Some areas have better potential than others, such as Liverpool and Manchester City Centre where property values have been rising since 2015. Other areas such as Widnes, on the other hand, have seen less significant growth during the same period.
Benefit from growing North West house prices with RW Invest
All of the current properties available at RW Invest are based in the most high-performing areas of the North West. If you’re keen to make a buy to let property purchase in this thriving UK region, please get in touch today and we can guide you through our fantastic range of opportunities.