At the moment, the best buy to let areas in the UK tend to dominate the north of the UK. With a strong focus on north-west property, cities like Liverpool and Manchester are oﬀering some of the most exciting and worthwhile investments in the industry. Two major players in the Northern Powerhouse, both of these cities have received billion pound investments in regeneration. However, property prices remain relatively low in comparison to rival regions down south, allowing buy to let investors to reap the beneﬁts of maximum capital appreciation oﬀ low-priced initial spending. These locations also have a wealth of opportunities in both the residential and student sectors for all-round winning buy to let destinations.
Top UK Locations
Regeneration has taken over the landscape with new cranes cropping up on the skyline every day. What was once a sea of derelict buildings and rioting streets is now the home of a blooming property market with pioneering developments around every corner. Billions of pounds worth of new properties plus renovations to existing structures puts Liverpool on every investor’s radar in 2018, with average rental yields coming in at 8%. Liverpool’s existing culture of art, music and industry has been enhanced with galleries, live venues and museums.
The population is increasing year on year, highlighting a growing number of residents in need of accommodation, which there is simply not enough of. The rising prominence of Liverpool as a major northern city is also attracting many young professionals who seek luxury accommodation within walking distance of the city centre. This is reﬂected in stats that show that a large demographic responsible for much of the population growth is between 17 and 29, an ideal tenant for buy to let property.
Liverpool also has 3 universities and a huge student population of around 70,000, ensuring a high demand for student accommodation which therefore breeds high percentage yields for investors.
Manchester is deemed the driving force of the north and is the second most populous UK region outside of London. The vibrant culture blending music, art, history, food, fashion and much more is recognised worldwide and has been manipulated by the market in developing stand-out buy to let properties in close proximity to these urban attractions. Enticing students, residents and investors from overseas and the UK, the city features in the top 25 hotspots for buy to let yields.
Residential property is beneﬁting from the abundance of workers who are choosing to relocate from more expensive southern regions to a city where they can enjoy a similar urban experience at a more aﬀordable price. Manchester is home to plenty of corporate giants and digital industries which snap up the brightest young professionals in the business. It’s specialised business quarter at Spinningﬁelds has even been deemed the ‘Canary Wharf of the North’.