by Housesimple on 11th July 2017
With London's red-hot housing market finally cooling off, wise investors are looking beyond the M25 to make money from property. Areas with new regeneration projects on the horizon have aways been popular with those planning to buy low now and sell high later, while towns with high rental demand are still a big hit with aspiring landlords – even with the new tax changes coming into play.
If your home’s in an up-and-coming area, it might be time to check out how much your property’s worth. To help you get your head around the numbers, have a read through our free downloadable guide, ‘How much is my house worth?’, today.
With your current property value in mind, here are our top investment spots to keep an eye on this year.
Home to MediaCityUK, the country's largest urban regeneration scheme, Salford has become a bit of a boom town. It's one of the UK's key growth areas, with around £3.5 billion in non-residential property planned for the next ten years. Both ITV and the BBC have been lured in by the low studio prices, and the number of young creatives upping sticks and moving to Greater Manchester has increased, too. This influx of millennials is great news for buy-to-let investors (as is the average property price of £177,122).
Margate may have been Britain's biggest coastal property hotspot last year, but 2017 has seen Broadstairs take the lead. Property prices this year have already increased more than 10% on last year's figures. The Kent coast has also become a fashionable destination over the past few years for young entrepreneurs priced out of London, so it's worth looking along this stretch if you're searching for some capital growth.
Property prices in Liverpool are still comparatively low, as the city is taking a little longer than the South East to recover from the last housing crash. The average property price is a modest £151,746 and prices have risen 8% since 2014. There are some ambitious regeneration plans in the pipeline, with major changes afoot in the city centre. Business investment should be taking off throughout the next few years, thanks to the government’s Northern Powerhouse scheme.
Leeds already tops the list of cities with the best rental yields, with the LS6 postcode offering a return on investment of more than 10%. Once HS2 rolls into town, it's likely that property prices will take an upwards turn, too. Another reason to keep an eye on Leeds is the South Bank project – the local council are aiming to reclaim land for the city centre, leading to an estimated 35,000 new jobs and 4,000 new homes.
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