Are you looking to invest in property? While you may be interested in purchasing a property near your own home, you should instead consider broadening your horizons. This is especially true if you live in areas like London, where property prices are high and yields are low. Therefore, you should turn your attention to more promising locations like the north-west.
To help you understand why the north-west is one of the best places to purchase property, read these top tips which should sway you towards the north.
Higher rental yields
North-west cities like Manchester and Liverpool are at the forefront of property investment, with the latter showcasing yields up to 11.79% and investors receiving almost 80% return on their investment. This shows that the north-west has no intention of slowing down so now is the time to capitalise on this success.
If you are yet to find the right property with high rental yields, you should seek advice from property experts like RW Invest, who have several developments in the north-west which can offer you massive returns. Once you have invested with them and gained significant profits, you can expand your portfolio and look at their other north-west properties which will enable you to become a seasoned and successful property investor.
The key to property investment is finding properties in sought-after locations, such as Liverpool’s L7, which is a residential area close to the city centre offering access to a number of transport links, shops and leisurely establishments. It is also home to many students who opt for this location as it offers the right balance between low-cost accommodation and proximity to Liverpool John Moores and the University Of Liverpool.
Across Liverpool and Manchester, there are eight different universities which attract a mass amount of UK and international students every year. Therefore, investing in university towns should guarantee regular monthly income due to regular term times and consistent rental income that will result in ongoing profit. Manchester’s M14 is a great student hotspot, especially for university goers who are seeking accommodation in locations such as Fallowfield, where they enjoy the short walk to their place of study.
Increased tenant interest
As university students flood into the north-west every year, the first thing on their mind is finding a place to live, and that is where you come in. You need to make sure that your property is located near their place of study, in locations like Liverpool city centre and Manchester’s Salford Quays which are in proximity to nearby universities. You also need to make sure that your property is renovated appropriately to suit the student lifestyle by offering them everything they would want in accommodation.
If instead, you’re planning to invest in residential property, you should consider choosing young professionals as target tenants, as they are most likely to be looking for a rented property. They will most likely be looking for apartments in central locations, which may seem like an expensive option, although in the north-west you can find some very affordable central properties.