Investing in property is not advised without first understanding the property market in your country i.e. if you’re in the UK then you’ll need to know what’s happening economically, and politically (think Brexit) that affects the property market prices.
A property investor also needs to know their own financial position and how they can fund a home purchase.
Property investment needs to be operated as a business i.e. it needs to be profitable. The revenue from renting properties must exceed all outgoings. The investor needs to know what the revenue (weekly rent) will be and the outgoings (mortgage interest, specific landlord insurance, maintenance and so on) before signing the sale and purchase agreement so they know if the acquisition is a worthwhile asset that will return a profit.
The list of must-knows for a landlord goes on too, including in-depth analysis on areas of interest to invest in. Why? Well buying a property is a big ticket item and to make the numbers work i.e. for the property to return a profit, it will need to be tenanted for no less than 48 weeks of the year. Rental properties must be in sought-after locations, near transport, infrastructure, shops and entertainment and schools appeal to a wider target audience, therefore vacancy is much lower and rental return higher.
Consequently, we’ve found some of the preferred areas to invest in the UK property market in 2019.
Liverpool hasn’t always had the greatest reputation. However, in recent years it’s seen a lot of investment in infrastructure and development including upgrades of notable buildings boosting the prospects of the city at large. Anyone living here is guaranteed a good quality of life, which means it’s a highly viable area to invest in the UK property market.
There’s also the case that property prices haven’t completely recovered from the heavy hits of 2008. Consequently, you can likely find a more affordable range of larger homes here for your investments, so Liverpool is certainly an area to explore here.
Manchester is rife with tenant demand, so if you’re particularly keen to become a landlord or landlady, look no further than Manchester! Obviously, the city is full of things to do also, a stimulating urban environment for the young and old alike. There’s theatre, restaurants, parks, sport centres, gyms; it’s all here!
There’s also great potential for transport, with links to just about everywhere in the UK. There’s a certain buzz in Manchester, stemming from a vibrant social scene, an electric culture, and a booming job market; perfect for all your smaller housing investments so the young can pile in! What’s more, it’s all far more affordable than London, but offers much of the same magic.
They don’t call it the UK’s second city for nothing. After all, house prices were rising fastest in the West Midlands as recently as last August, so this definitely a fast-moving train to leap aboard. Like Manchester, there is a great deal to do here, and because it’s in the Midlands, train journeys in any direction are short and sweet.
There’s also a population that’s growing steadily, which means in the next couple of decades, there’ll be a whole lot more people looking for somewhere to call home!
However, you can get ahead of the curve here and invest in Birmingham property well ahead of time. That way, you can ready yourself for the influx of new eventual tenants and more!
The best places to invest in the property market in the UK tend to be the most active and stimulating cities. This is where clusters of young people gather looking to rent at affordable rates, which is something that London, for example, will never be capable of offering. However, many of the UK’s other cities are more than up to the task!
Property investors can find properties to invest in, anywhere when they know what they need to make the purchase profitable and what external elements like Brexit may improve or threaten it’s viability as a value asset.
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