Like most things, investment works best when you have one eye toward the future.
Whilst they may not necessarily be the best place to buy investment property today, the following towns and cities are worth keeping your eye on.
Their stats are not yet on the level of the ten mentioned in this guide to the best places to invest, but the potential for growth and upcoming regeneration means they could very well be on their way to overtaking the top contenders in the coming years.
After all, who knows what tomorrow will bring? We think these areas of the UK have the potential to crack the top ten and become some of the best places to invest in UK property in the coming years.
Luton Property Investment
Ideal for those looking for a London commuter property outside of the capital, Luton is currently a popular destination for many first-time buyers in the UK and is definitively one that to keep your eye on – especially for those investors looking for decent capital gains with a lower entry point.
With a solid regeneration plan in place, the town is looking to combat its housing shortage by building new homes to meet demand.
According to home.co.uk, the average rent in London is 30% higher than that in Luton, standing on the average at £1,427.
Slough Property Investment
With a thriving economy, excellent growth rates, and fantastic transport links, Slough is an up-and-coming UK town growing more popular in 2023.
Another commuter town just outside London, Slough also enjoys a robust rental market due to demand from professionals wanting the Slough and London business scenes – at a much more affordable price than the capital city.
The regeneration and economic schemes in place are also eye-catching.
Based on Zoopla’s latest data in 2022, the average property in Slough is expected to generate yields of up to 4.23% – another one to look out for; Slough could very well be the next buy-to-let hotspot.
Hull Property Investment
Hull is another up-and-coming UK hotspot for property investment. This Yorkshire city boasts an average property price of just £138,595 and offers average rental yields of around 5%.
After being named 2017’s Capital of Culture, over £1.5 billion worth of investment has been poured into the city over the past eight years.
Wigan Property Investment
Located in Greater Manchester, Wigan is an under-the-radar town that holds a lot of potential for property investment.
With its great positioning on the Manchester commuter belt and millions worth of regeneration coming into the town, Wigan also has a very affordable average property price of only £184,825, meaning you can target those commuting to Manchester for a far cheaper price. Investment opportunities like Vantage Point in Wigan start from just £132,950 and offer 7% rental returns.
These towns and cities have substantial ongoing regeneration efforts and could soon have the property stats needed to be some of the best places to invest in property in the UK in the near future.