The UK property market is thriving in 2020, with plenty of amazing locations offering promising upcoming developments with high rental yield averages (if going down the buy to let route), and exciting capital growth potential. Bouncing back and remaining strong in the face of Brexit uncertainty over the past few years, there is plenty of excitement among investors and entrepreneurs surrounding different areas, but some are certainly better than others in terms of statistics going forward.
Are you interested in finding out more about the UK property market? To help provide inspiration and point you in the right direction, here’s a quick look at some of the best areas to invest currently in the country.
Referred to by many as the UK’s second city or second capital, Manchester is the northern hub for business in the UK, and the leading Northern Powerhouse city, with Liverpool, closely following behind. Not only does the city boast one of the biggest student populations in the entirety of Europe, with such draws as the prestigious Manchester Metropolitan University and the University of Manchester, but it also has a huge population of over 550 thousand. The demand for quality housing with access to the local amenities continues to grow exponentially as more move there and see the benefits of living in such a thriving cityscape.
Featured area – Salford Quays
The media hub of Manchester is Salford, home to MediaCity UK and thus the likes of BBC, ITV and more. This area offers high rental yields due to the demand from young people graduating out of the universities in the city and into media-driven career paths, wanting to live with prime access to the different companies and opportunities that Salford affords. One of the upcoming developments in this area is Merchant’s Wharf, a flagshipdevelopment from RWinvest that is set to be an attractive offering for tenants looking to live in the area.It is already at below market value proving to be an exciting prospect for investors wanting to plant themselves in the city going forward.
Boasting an average property price of just over £184,000 according to Zoopla, the Premier League-winning city of Liverpool is not only one of the best cities in the country for affordability, but also for rental return averages and even long term financial growth through capital gains. In their buy to let rental yield map, TotallyMoney reports that Liverpool’s L1 postcode has the highest-performing rental yield averages in the country, and is the only one to top 10%.
While Manchester is often looked to first before Liverpool by investors looking northwards of the UK for an investment opportunity, Liverpool often beats it in terms of statistics. Some with interest in the property market believe that Liverpool is enjoying the regeneration and development that Manchester enjoyed some five years ago, and thus can sometimes offer better growth potential, as an unbelievable amount of development continues around Liverpool’s dock area and beyond.
Featured area – The Baltic Triangle
Once an abandoned area of the city filled with old empty warehouses, The Baltic Triangle in Liverpool has quickly become one of the trendiest and most in-demand areas in the entirety of the UK among young people. It’s been deemed by some as a northern equivalent to London’s Shoreditch. With a huge number of thriving digital business, it’s sure to be an integral part of the city’s economy for years to come – again, thus making it a viable investment area.