With increase in interest rates and strict lending checks by financial institutions, UK property market is slowly shaping up in 2018 to be most eventful. Due to this, it’s of utter importance to have in depth information on the potential profitability of the UK property market, whether you are an investor, a tenant or letting agent.
London has always been viewed as the go to destination for foreign investors, who want to cast their nets away from their comfort zones, and young professionals looking to make a career out of the numerous opportunities in the UK capital. However, the UK property market has seen a surge in more investors looking for greener pastures away from London. But where are these cities and towns that have captured the attention of these investors?
In the last 12 months, Edinburgh’s property market has exponentially thrived. There has been a constant demand for homes in the city, outperforming the likes of London and other sharks in the property market. Edinburgh’s unique character, proximity to the more serene countryside and increasing businesses are factors that make it appeal to investors to develop more properties.
Among the many accolades that this city has won, is UK’s most preferred city to host the 2022 Commonwealth Games. Apart from the accolades, Birmingham is home to big employer companies such as HSBC and HMRC, which bring a host of benefits including high property inventory, educational developments and connectivity among others. Property inventory in the city is above par both in the city center and the suburbs. This is compelling more international investors to pitch tent in the city and develop more property, putting into consideration the profitability index.
Manchester basically thrives in its rental market. Basically, this is due to it being and educational city with four universities that have a cumulative student population of more than 100,000. This makes the rental market in the city one of the strongest in the UK property market today. Not only are landlords the only investors, but letting agents in this city always smile all the way to the bank.
To further bolster its strong credentials in the UK’S property market is the government’s Northern Powerhouse investment program, which will see a significant increase in property development in the city. As a great place to live and work, Manchester has always been on the list of top places in the UK for property investment, and 2018 seems to be no different.
Liverpool plays host to over 70,000 students from different educational institutions in the city. In recent years, the city has played evident to numerous investment programs, both in the city and the suburbs. Rental housing and residential housing have both played a big part in the city’s 6.2% property growth in the past one year. More business opportunities for letting agents have also been brought to light in the past year. It’s only expected that 2018 follows suit with the trend.