The real estate market in the UK has been very hot in the past few years. Recent lockdowns and the stamp duty holiday have resulted in a small boom in demand for UK houses. Therefore, most cities in the UK have seen an increase in house prices.
Many cities are looking to continue this trend, so now is a great time to invest!
Any type of investment is complex and requires a lot of thought. Real estate is a favourite of investors. If it’s done correctly, it can promise consistent and safe returns.
One of the most critical aspects of real estate investment is picking the correct area. Rates of growth will vary significantly across the UK so that some cities will be a lot more profitable than others.
Picking out a promising area can be pretty tricky if you’re not a seasoned property expert. You don’t want to put money into a house that’s going to lose you money!
To help you out, we’ve put together a list of the most promising cities in the following years. Hopefully, with suitable guidance, properties in these cities will be a great start to your journey as an investor.
Manchester’s economy and population have grown dramatically in recent years and fueled a rise in house prices. This trend is looking like it will continue, with prices predicted to rise by another 17%.
Manchester is one of the largest cities in the United Kingdom’s northwestern region. Manchester is your best bet if you’re looking for a safe place to invest in real estate.
Manchester continues to be a growth and investment hotspot in the UK’s north. Manchester’s prices have risen by roughly 16% in the last five years.
Manchester has a sizable student and young professional population. Manchester has a lot of multinational corporations. The presence of these companies results in plenty of job options.
This is a fantastic advertisement for young professionals trying to start or advance their careers looking to rent houses in Manchester.
Manchester boasts several universities that attract students to the city and enhance housing demand.
Many future projects, such as the Great North Railway plan, are scheduled to begin in 2022 and help Manchester thrive. The great North Railway plan will boost Manchester’s connectivity and attract more UK residents.
Birmingham is unique in that it is a vast metropolis that is yet quite affordable. House prices have risen by 14% in the last five years as a result of this. This aspect has attracted a large number of people to rent and purchase homes in Birmingham.
For the past few years, Birmingham has been a popular investment destination. It’s the UK’s second-largest city, and it’s recently seen a significant price and population increase.
Birmingham has experienced remarkable expansion due to the Big City Plan, and housing demand is currently at an all-time high. Birmingham’s prices are expected to climb by 20%, providing excellent returns for investors.
Birmingham has a list of events in line to happen shortly, for example, the Commonwealth games. Birmingham will see a significant increase in tourism and expenditure due to these events, contributing to the city’s overall growth.
Because Birmingham is located in the heart of England, it has excellent transportation connections. The completion of HS2 will further improve transportation linkages, attracting more people to Birmingham and increasing housing demand.
Derby is located in the heart of the United Kingdom, with excellent connections to both the north and south.
According to housing data, Derby is one of the finest places in the UK to put your money. House prices in Derby have risen by a staggering 22% in the previous five years.
Derby’s large student population and career possibilities are essential elements in the city’s development. Derby is so well linked that it is only an hour distant from 17 institutions!
This trend is expected to continue, so Derby is a great place to start if you’re seeking to invest.
Many students are looking for homes in Derby to buy or rent to commute to their institutions. The increased demand for accommodation and the price of housing has resulted from the influx of students.
The number of jobs available in Derby is also raising the demand for housing.
Derby’s future looks bright, thanks to HS2’s increased connectivity and initiatives throughout the city. The current average rental return is 5%, and prices are expected to rise by 24% in the following four years.