Best areas to invest in real estate
When it comes to investing in real estate, one thing is for sure. You are going to want to see a return on the investment that you have paid out. This means that the property that you buy will earn you money, particularly in the long run.
You can do this by purchasing cheaper properties and then selling those for a profit. Of course, this may often mean that you need to do work on the property to get it ready for selling (or spending out on improvements that will make it a more attractive prospect for someone else to buy).
Another way to make money from a property is to buy one that is then rented out to tenants. To do this you are going to need to buy a property that will appeal to your target audience (and of course consider exactly where that property is).
Need some inspiration when it comes to property investing areas? Here are some of the best areas to invest in real estate right here in the UK.
Manchester
Manchester is a city that is best known for being a fantastic cultural hot spot, with a variety of amazing things going on at all times.
Not only has it recently been voted the best place to live in the UK, but it also has an ever-growing property market that is providing property investors with a variety of opportunities.
The average property price that you can expect to pay out in Manchester is £238,861. However, the rental yield for the city is around the 7.37% mark. The predicted growth for properties by 2027 in the city is 11.7% which makes it an attractive prospect for property owners.
Liverpool
Not far from Manchester, you will find another great city to live in, Liverpool. Liverpool is ranked just behind Manchester as a place to live and much like Manchester it is a great place to buy the property and then either sell it or rent it out.
Liverpool has, at some point, been suffering from an economic decline, however, this has been changed for the better of late. Now, it boasts a combination of relatively low property prices (considering the fact it is a city) and some great predicted growth for the future too.
Glasgow
If you think that Scotland might be the right choice for you, then Glasgow may be an option that you want to consider investing in. Glasgow has an average property purchase price of £175,622, which is much lower than other cities out there.
As well as this, Glasgow also has a rental yield of 9.23% which is much higher than a variety of other cities. Whilst it is growing as a city in the world of property, the growth here is much slower than in other cities. The predicted growth for a property by 2027 is only 9.5% which, when compared to other cities, is much lower.
Newport
Most of the cities on this list are in the north of the UK, largely because the south is known for being more expensive to buy in. However, some posts down south are going to be a good investment for you.
An example of this is Newport in Wales. The property prices in this city are higher than they are in others on our list, but, it is still a great place to buy and rent out. It has all the perks of being in Wales (which is a great place to live) but it doesn’t have the higher price tags that come with choosing the capital city, Cardiff.
As you can see, there are lots of great places to buy property in the UK, you just need to think about what it is that you are looking for, and of course, the amount of money that you have to initially invest.