If you are looking to purchase property as a buy-to-let investor, you’ll want to ensure you choose an area that offers reasonable house prices and attractive rental yields and helps tenants save money on their bills.
For instance, buy-to-let investors have noted that city centre apartments are becoming a more lucrative investment avenue due to more people returning to office work. These properties would satisfy people’s desires to downsize and help them save on their energy bills, particularly if they move into a new-build apartment. For that reason, investors may want to look to cities with good economies and job opportunities, such as Liverpool, Manchester or even Glasgow.
Not only are these places good for work, they are highly desirable places to live and have below-average property prices. For example, properties in Liverpool cost around £177,000 on average, according to the HM Land Registry UK House Price Index. In comparison, the national average property price in the UK is around £290,000.
In addition, Liverpool is also subject to substantial regeneration in central areas like the Baltic Triangle, the Knowledge Quarter and the upcoming Northern Quarter. This is an essential factor to consider when buying a UK rental property. Savills points to Liverpool and the North West region as an area on the rise, forecasting returns of 9.2% in the North West buy-to-let region.
Discover More: For more buy-to-let regional advice, check out some of our handy area guides, including:
