In the pursuit to find the right property investment, a lot of investors are shifting their focus further up north. With low costs and high returns, England’s North offers smart investors the best of both worlds. But where exactly offers the highest return, most affordable property and best living standard?
Our friends at the Heaton Group have created this impressive map, visualising how much buying a property will set you back in the Greater Manchester area.
Greater Manchester is connected in more than one way. The capital is within an easy commute via train for any essential business meetings or international events and it is home to a major International airport, connecting it to many long haul destinations.
Further investment from East Asian business will be encouraged by a new flight route between Manchester and Beijing and big companies like the Beijing Construction Engineering Group already investing more than £200 million in the region.
With property prices from £161,844, there is definitely a strong investment incentive for the buy-to-let market. If moving a bit further out of the city centre isn’t a problem for you, Greater Manchester’s bargain hunt will basically become endless. With a growing population of families, students and young professionals, modern city accommodation is in constant demand, and rents are reflecting this, averaging at £1,033 per month.
Liverpool, in particular, has seen a great level of investment over the past decade thanks to the retail and entertainment development, Liverpool One. Located in the city centre, the shopping and entertainment venue attracts tourist from around the world and has almost single-handedly raised the city’s reputation.
UK and international property developers have taken advantage of the investment in the city by building a number of beautiful, modern and high-quality developments close to the main university campuses to target the growing student population the city has.
With an average property price of £137,485, this Northern city can offer buy-to-let investors a bargain deal. The average rental price for a property in Liverpool is £703 per month.
Sheffield offers investors a chance to buy character properties in pretty neighbourhoods. With a large student population of over 59,000 (representing 10% of the population), there is a high rental demand for modern, high-quality accommodation. Located a little bit closer to the middle of the country, property prices begin to slowly creep up in price, with the average property setting you back £170,203.
Sheffield almost seems to offer the best of all worlds. The Peak District right at its doorstep, short commutes to Manchester, Leeds and Nottingham and four airports within less than a one-hour drive. Sheffield’s rental costs currently average at £736 per month.
Finding the right location for your property investment is always a tricky process. Important decisions like what kind of property do I want to buy, where do I want to buy and who do I want as a renter all take their time. And research.
Whether it’s Manchester, Liverpool or Sheffield that takes your fancy, in the end, these are three great cities offering a great variety to tenants and landlords alike.