A fair few years ago London may have dominated the renting scene but now times have changed. Many property investors are turning their attention to Glasgow, Manchester, Birmingham, Sheffield and Liverpool, which has been based on research that compares rental returns to property prices, giving the locations that deliver yields on property. In a list that was conducted of the top 20 buy-to-let hotspots for January 2015, Glasgow postcodes happen to feature four times, as did Liverpool postcodes, Sheffield featured three time and Birmingham and Manchester postcodes twice. Due to its high property prices, London was actually absent from the list, apart from the EC3 postcode, east of the city which happens to make it to the top three.
With many houses price hikes in Edinburgh, making the buy-to –let an increasingly expensive and less profitable option for property investors, landlord have more often than not been seen to snap up deals in Glasgow. Glasgow is an incredibly popular city which boasts an incredibly vibrant nightlife, internationally-acclaimed museums and galleries, celebrated architecture and the UK’s second largest shopping centre. Another reason Glasgow is the perfect location is the fact that it has a renowned reputation for its incredible live music scene.
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Unsurprisingly, Manchester experienced the strongest house price growth in the whole of the UK. The bank Nationwide found that average prices across 200 postcode in Greater Manchester rose and then even double. The population of Greater Manchester happened to grow by over 7 per cent between 2001 to 2011, with 2.68 million people living in 1.13 million households. Due to these statistics demand for rental property in Manchester is obviously at an all-time high. Not only rom tenants, but for investors looking for commercial property which they can rent with Commercial People as one option. This means that as soon as a property becomes available it is then sold soon after. Manchester also has one of the largest university populations within the country and it’s the third largest city in the UK.
Another city with one of the largest university populations in Liverpool, as it has more than 60,000 students living in the northern city. The city has a growing population, which consists of both domestic and international students which means there is a constant stream of demand for new student property investments in Liverpool. However there are plenty of development schemes that are have been planned for the city and the surrounding area.
Over the past decade Birmingham has experienced a major reinvention, there is also plenty of development already underway including the brand-new high speed Birmingham-to-London train; the HS2 which is set to attract even more investment within the area. Many estate agents happen to believe with the reduced travel time in to central London, could see more and more people decide to move into Birmingham. Birmingham has already seen a spike in interest with a central Birmingham scheme by Knight Frank which actually sold out with days last year, making it the fastest selling development in the city in years.