Three UK Cities that are Perfect for Property Investment
The UK property market is one of the best choices for long term returns and lucrative investment. From luxury apartments in historic city centre locations, to modern high-end student pods with huge rental demand, there are a wide range of lucrative opportunities available in the UK. But which are the best cities for you to invest in property? The three northern cities of Manchester, Liverpool and Leeds are the best choices and each one has unique benefits.
Liverpool is a UK city which has firmly established itself as a UK property investment hotspot. This Northern city has been the welcome recipient of billions of pounds worth of investment, with projects such as Liverpool One, the Knowledge Quarter and Liverpool Waters transforming the city into a modern, thriving hub. Liverpool has been seeing an increasing amount of investment in property too. Liverpool property experts, RW Invest have seen a huge rise in demand for Liverpool property, especially from buy to let investors looking for the best rental returns. L7 is in fact the best performing rental yield postcode in the country, offering extremely high returns of 11.79%. The second best performing buy-to-let hotspot was L6 in Liverpool which has an equally impressive monthly rental yield of 11.53%. Liverpool in fact had three of the best postcodes, with L1 scoring rental returns of 9.36%. Property prices in Liverpool are also incredibly affordable, perfect for property investors looking for a great deal.
The UK city of Manchester has become one of the most popular cities in the country for property investment, especially from overseas. Manchester has a thriving student sector, strong economy and international links, ensuring that the city has a bright future. The average house price in Manchester is around £158,800, making it an affordable choice for investors. With impressive house price growth across the city, many investors are choosing Manchester for their next property investment location. Recently ranked as the most liveable UK city and with the highest combined jobs and population growth in the country – Manchester has been earning a reputation for exceptional growth. Manchester property has an average yield of 5.5% and its M14 postcode is fifth in the top 10 postcodes for rental yields list, with an average rental yield of 10.08%. These impressive yields are another reason why Manchester is perfect for property investment.
Leeds has experienced considerable growth, with huge plans in the pipeline too. This northern city has been a vital part of the government’s Northern Powerhouse initiative, with the new HS2 rail line playing a pivotal part of the new South Bank regeneration scheme. Property prices in Leeds look set to skyrocket as the area grows – with regeneration efforts planning to double the size of the city. Leeds also has a high student population and it is the UKs largest financial centre outside of London, with many major companies, banks and law firms based there. A number of international businesses have chosen to base their operations in Leeds, with brands like Burberry, ASDA and Sky having a significant effect there, creating new jobs and opportunities. This highly skilled workforce means that the demand for rental property in Leeds is higher than ever. With a strong economy and major growth on the horizon, Leeds is definitely a great location for property investors.