So it's January and your plans to expand your rental portfolio are in place and you’re raring to go. But where should you make your next purchase?
According to RICS registered chartered surveyors e.surv’s director Richard Sexton, northern regions are a good option. Particularly because prices there have remained “cooler” Mr. Sexton told the Independent.
Specifically, Mr. Sexton said he expects North East England and Yorkshire & the Humber to be among property hot spots, particularly for first-time buyers. And as you know, where first-time buyers search, investors often follow as it tends to mean house prices are on the lower side.
A number of recent surveys concur with the view that ‘up north’ could be the place to make your next lucrative property investment in 2016.
Eccles in Manchester has been touted as a good investment opportunity. This is largely due to the suburb having its own train station and Metrolink tram stop which makes city access nice and easy, so great for commuters.
Savills latest five-year outlook suggests that house prices will be more than 10% higher by 2020 than they are currently. And, while south east England has the highest expected increase of 21.6%, east England isn’t far behind at 21%. But that’s not all, with expected rises of 14.2% in Yorkshire and the Humber and a 12% gain in the average property value in North East England, an investment in one of these regions could really make sense.
For investors considering adding some student buy-to-let accommodation to their portfolio, northern university towns worth serious consideration include Durham, Edinburgh, Manchester, Warwick and Nottingham. Those five should fare well as property prices are low but academic standards are high, research shows.
For those of you who want to either add to your existing London portfolio or add a London investment then research by the Evening Standard’s Homes & Property team have identified some possibilities.
Brent Cross and Cricklewood in north-west London look sure to benefit from upcoming improved rail links into central London. A huge infrastructure investment could make the larger properties there more appealing if bought now – before the work starts in earnest. And, once the transport links are upgraded, rents should rise due to the easier and quicker access into central London for commuters.
As well as the improvements to transport links being made, a number of residential developments have already begun in North London. This means not only will more people want to live in these spots once the transport works are completed, but they will have somewhere to live thanks to the new property that has been constructed there. Why not get in sooner rather than later and make an investment that is sure to prove popular?