There are plenty of regions across the UK where property is booming. For investors, the time to buy could be now.
One significant area of growth is Manchester, which, with a thriving economy, is undergoing a property transformation. With the city centre’s population set to increase by as much as 50% in the next 5 years, every site with potential is now a target for developers.
Boasting a population of £2.5 million and, due to its large campus university, a student population of nearly 100,000, the rental market is booming as graduates choose to stay to work and live in the city, rather than struggle with the high rent demands of London. Most millennials opt to rent, rather than buy property, so Manchester is a rental ‘hotspot’ with house prices increasing and occupancy rates at some of the highest in the UK.
Other rental hotspots across the UK include Liverpool (also a popular university town) and Bradford with yields of up to 10% followed by Sunderland (9%) and Middlesbrough (8%).
If you are looking to secure finance for your property investment, ASC Finance brokers can help.
Find out more at https://www.asc.co.uk/service-type/property-finance/