Top 3 North West Coastal Areas for Short-Let Property Investments
Staycations are becoming more popular across the United Kingdom. As such, buy-to-let investors may want to turn their attention towards local holiday destinations.
According to a 2023 report from Cofton Holidays in 2023, 34% of UK travellers would choose to go on holiday in the UK rather than abroad. Due to the cost of living crisis, people see staycations as cheaper and easier to plan.
Therefore, property investors may want to consider holiday lets in some of the UK’s favourite holiday locales.
However, they must also consider factors like property value, visitor figures and rental yields. While purchasing a buy-to-let property somewhere like Poole may seem like a good idea, the considerable house prices will put off the vast majority of property investors.
If investors cast their eye away from typical UK holiday destinations, they may find a short-term rental hotspot with higher potential capital growth and a steady stream of visitors.
Today, we’ll focus on the North West and cover the top coastal areas in the region for UK buy-to-let investors.
Claim Your Free Buy to Let Costs Guide
From management fees to service charge, there are a few costs to consider when investing in buy to let property. Download our free guide today on buy to let costs and get up to date with the latest fees.
Why Invest in the North West?
The North West is an area with substantial buy-to-let potential.
According to Savills Residential Forecast, the North West could enjoy the joint-highest capital growth out of any other place in the country, reaching an estimated 11.70% by 2027.
In addition, the North West boasts two major cities with a huge visitor base each year.
The North West is considered one of the best buy-to-let areas in the UK, with some of the cheapest homes in the country, meaning property investors stand to achieve better rental yields, whether they invest in short or long-let properties.
Unit A-401 Back on the Market!
Completed Manhattan apartment back on the market in our sold out, award-winning development with £9,097 Net rental income. Move quickly to secure this unit.
Third Place: Blackpool
- Average property price: £135,873 (according to Land Registry)
Blackpool is well known for its tourist industry. People flock to this Lancashire coastal town for hen and stag parties. Nearly 19 million tourists came to Blackpool in 2021, thanks to attractions like the Blackpool Pleasure Beach and Blackpool Tower.
The area offers excellent value properties and a thriving short-term let sector. However, the sheer competition from hotels and bed and breakfasts may put some investors off.
Investors should remember that Blackpool landlords can only rent out a property for short-term lets for less than 90 days. They will need necessary planning permission from the council to let out properties for longer than that. As such, profits could be hampered due to extended void periods.
For a detailed look at short-term rentals, you can learn more about serviced accommodation here.
Completed 2-Bed only £179,950!
Limited 2-bed apartments available from £179,950 in our completed and tenanted Liverpool development. Assured Net income available on this back to market deal with major savings.
Second Place: New Brighton
- Average property price: £217,880 (according to Rightmove)
New Brighton is a small coastal district in Wallasey, a town on the Wirral. Sitting on the banks of the Mersey, the town boasts bus and train links to Liverpool – visitors can reach the city in roughly half an hour. New Brighton is at the end of the Wirral Line. As such, tourists can easily access other parts of the Wirral, reaching other coastal towns like West Kirby in under an hour.
The area has undergone recent regeneration, with Victoria Road becoming a hub for cafes and bars. There are some Airbnbs and hotels in the area, a cinema, Morrisons and the Floral Pavilion theatre.
Active people can traverse the length of the Wirral Coast from New Brighton, a 15-mile walk leading to Thurstaston, which offers lovely views of North Wales and plenty of places to stop for refreshments along the way.
Get Your FREE Buy to Let Investment Guide
Contains actionable tips for property investors to help your investment portfolio thrive! Download today for a free copy.
First Place: Liverpool and Crosby
- Average property price: £177,224
Crosby regularly appears on lists of the best places to live in the UK due to its beautiful views of the Irish Sea, proximity to Liverpool and excellent quality of life. In fact, Crosby featured on The Sunday Times’ list of the best places to live in the North West.
This affluent suburb is known for its beachside art installation – Another Place by Antony Gormley – and quaint eateries. Crosby is a part of Liverpool. As such, it benefits from a percentage of the 70 million visitors who come to the city each year.
Thanks to the football, live events and the city’s heritage, Liverpool is one of the most visited cities in the north of England. As such, short-term lets and serviced accommodation could prove lucrative.
If you are interested in Crosby buy-to-let investment, why not take a look at Sky Gardens? This stunning development is only a short walk from the beach and offers serviced accommodation that is suitable for long and short-term lets.
Unlike Blackpool and other areas of the UK, properties in Liverpool are not restricted to the 90-day short-term rental rules. As such, the potential for a greater rental yield is much higher.
If you’re looking to invest in UK property, RWinvest has various guides and resources available to help you get started: