The UK’s property market is both an interesting and varied one, with a number of different property types and strategies available to potential investors, dependant on their financial situation.
Interested in the property market and want to find out some of the investment hotspots currently? Here is a quick closer look at some of the different dynamics of the property market in 2019.
Foot in the door
While investors looking to buy property may want to hold onto it for a long time for buy-to-let purposes, there are some concentrated areas throughout the country in which property sells extremely quickly. Falkirk and Edinburgh are currently joint top for this title, with the average property being on sale for 27 days before securing an offer.
Top-Tip – Putting your property up for sale on the market, and want to make sure that you’re in with the best chance of it selling? Consider whether you’ve done enough to market the property to its full potential (with pictures and videos), and also consider other factors such as whether it’s the right time of the year for buyers.
What makes the area popular?
In spite of parliament turmoil and Brexit uncertainty, the majority of the UK is actually projected to experience general growth in its property market, both in terms of the capital growth potential and rental yield averages.
However, while you might stand to make returns in any area if investing smartly and in a unit that you know will attract attention, there are some areas that are certainly more popular than others. This is due to their higher potentials for lucrative returns, and promise for the future.
So, what makes an area popular? Well, one of the driving factors of the property market at the moment is modern, sleek student accommodation. RW Invest state that the asset class is a brilliant addition to any property portfolio and the growing amount of demand from student tenants means that there is plenty of opportunities to jump in on a thriving area. Liverpool is a prime example of a location with a booming student population of 70,000 students during term-time and year-round.
Bagging a southern bargain
While it’s true that the capital of the city of London right now is one of the least impressive spots to purchase property, there is still some activity. Despite the Brexit fallout which has affected stagnating house prices and lower average rental yields than some Northern areas, there is still some interest. Certain international investors are making the most of the weakened market and state of the pound in London, playing the long game and buying up expensive high-end homes in central London that will surely regain their value in the years to come. Research supplied by Cluttons also suggested that in the 2016/2017 period after the referendum result (between August 2016 and July 2017), over a fifth of the property sales came from Indian investors.
This isn’t to say that international interest in the property market is focused solely on London, however, as again cities like Liverpool and Manchester also offer prime spots that can prove lucrative. These locations offer a safer and faster option for those that want to start generating an income from rental payments. You’d be much harder pressed finding a tenant for a prime central London mansion in the Brexit landscape, than you would be finding a student moving away to university and in need of a home.
House For Sale – DepositPhotos