Like most things, investment works best when you have one eye toward the future.
While there may be better places to buy investment property today, the following towns and cities are worth keeping an 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 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 housesforsaletorent.co.uk, the average rent in London is £4,115 per month, while Luton comes in at £1,161.
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.
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.
Hull Property Investment
Hull is another up-and-coming UK hotspot for property investment. This Yorkshire city boasts an average property price of just £144,918 and offers an average rental yield of 7.03%, according to Zoopla.
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 £185,039, meaning you can target those commuting to Manchester for a far cheaper price.
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.
Uxbridge Property Investment
London is the top choice for a lot of investors, but when investing in London’s property market it’s important to be selective about which particular part of London you invest in in order to attract the right level of rental demand and ensure you’re getting the most for your money.
Uxbridge is an area of West London that’s gaining attention for its property market potential. Rightmove stated the area has an average property price of £501,130, based on recent properties listed on the market. While this figure is high compared to areas in the North of England, it’s comparatively lower than London’s average which Rightmove puts at £784,299, and much lower than certain areas such as Chelsea which has an average price of over £1,000.
Boasting access to Central London in just 35 minutes and an excellent business scene including Cola Cola’s headquarters, Uxbridge is attracting a lot of demand from young professional tenants, making it one to watch for investors keen to explore the English capital.