There are many words to describe England: royal, rural, industrial, historical or iconic to name but a few. And every year property hunters come here in search for the perfect investment. So which area offers what and where are you best off to find what you’re looking for?
Property in England is a big thing. Owning a home used to be every Brits’ sole dream. Whilst this is now shifting somewhat and Generation Rent is growing, property investor are becoming more and more interested in the country.
Former Chancellor Osborne to chair the Northern Powerhouse Partnership
Every Thursday, for the next 10 weeks, we’ll be presenting one of England’s areas to give you an overview of what each region has to offer and where your investment may work the best.
An overview
Starting it off with an overall view on England’s property market, it may be important to state that what once was a significantly north/south divided country is slowly growing back together.
Thanks to some major initiatives like the Devolution Deals (giving additional power to England’s key cities) and the Northern Powerhouse project and, after all, even the rising housing and living costs in London, people are now moving out of the capital again.
Through this, the country experienced a shift in focus, giving business and politics the option to support England’s North as well as the Midlands more by introducing projects like the HS2.
Where to invest
As the great divide isn’t what it once was anymore, most northern cities, like Manchester and Liverpool, are now actually thriving. And they’re giving London a run for its money.
Property prices, generally speaking, are higher in the South, and a lot of the time yields are lower.
Two thirds of property investors think Manchester is the best place to invest
With the Government changing tax rules and regulations last year for property investors, for many, London is becoming too expensive to make it worth the investment. Whilst the coming year might see a drop in prices in the capital, the North and Midlands appeared as strong investment hotspots throughout the last year.
With demand still growing and supply lagging behind, it’s overall safe to say that property is still an asset class well worth a consideration.
