Investing in homes is a great way to ensure that you have a nest egg in the future. Property investing is becoming more and more popular as people look for ways to make their money grow. With interest rates low, putting money in the bank is not a sensible option. And even the increased stamp duty that is designed to hit buy to let landlords isn’t putting most people off. But where are the best places to invest in new properties right now? The best places are locations where things are on the up, but where prices have not yet grown out of control. Here are some examples of the best places to invest.
Manchester
At the moment, Manchester is the UK city with the very highest rental yield. The city is on the up, and it’s becoming very popular with young people looking for an alternative to London. It’s quickly becoming the London of the North though. Rental costs are on the up, so now is the best time to jump on board. With a rental yield rate of more than 6%, it’s not surprising that many people are now turning to the city as the next best place to invest. After big renovations of the city centre took place over the last decade, the city is now reaping the rewards. For buy to let landlords, there are many small properties just outside the city centre that remain affordable to buy. And they all have great rental potential too.
York
York might not be as popular among young people as Manchester. But it’s still a location with a lot going for it. People see it as a professional and modern city today. And there are plenty of young families for landlords to target. Properties are more expensive here than in Manchester though. There are many reasons for this. The most common types of properties that appeal to renters tend to be bigger and aimed at professionals. This means prices are higher. If you can cope with this, then York can be a great city to invest in. It’s a northern location that is on the up. And as a long-term investment, there is a lot of money to be made there.
St. Albans
Many investors are staying away from London at the moment because of the high cost of buying. It makes it very people without a large amount of capital to buy in these locations. And that’s a problem that can be solved by looking just outside of London. One of the tricks of being a good property investor is knowing when to follow the tenants. When tenants are moving outside of London to look for cheaper rents, you should do the same. So, that’s what makes St. Albans a great place to invest. It’s located in a commuter region, and is already very popular with professionals who work in London but don’t want to live there. By offering solutions to these kinds of people, you can potentially make a lot of money as an investor. And that’s what it’s all about, so find out more about the area.
