When it comes to investing in property, be it a buy to let investment or purpose built student accommodation, location is key. Many assume that London will be the prime location for investing in property, although with cities such as Liverpool and Manchester being awarded the UK’s property hotspots, with incredible growth over the last two years alone, it may be wise to think again.
Some investors also feel the only way to manage a property efficiently is through investing locally. This simply isn’t true. Although it may seem daunting for some first-time investors, the best returns are rarely on your doorstep. By letting geographical issues get in the way of a sound investment, you can expect to lose out on high rental yields and often even assured income. For example, If you lived in London and a Building society based only in Edinburgh offered the best interest rate in the country would you refuse to put your money there because it was too far away? No? The same ideal can be applied to property! Modern management companies can deal with all aspects of renting your property. Being near the property to manage it is no longer an issue, as the cost of professional agents are minimal, and removes all stresses that can come with self-management.
When looking for the prime property in a fantastic, high occupancy location, it is important to consider the value that can be added to certain areas. For example, HS2 rail link has and will add more value in places like Manchester, Birmingham and Liverpool than it would in London. Manchester in particular has seen a fantastic increase in the demand for quality property, with Media City and the city centre now becoming one of the most sought after locations in the country.
For more information about the developments available in the UK’s prime property hotspots, call us today and speak to one of our expert property consultants for more information and advice. Our consultants are dedicated to finding a property solution tailored to your needs, so make the most of a fee-free opportunity and contact us today!