The 5 key places to invest in property outside London
London. Anyone paying attention to the housing market would be forgiven for thinking it is the only place to invest in property.
But London has its drawbacks. Namely: the high price of building or buying a property.
For this reason we conducted research into property areas outside of London. In fact, we have looked exclusively for in-depth knowledge on the other areas developers are banking on.
- North Oxford, Oxfordshire
Oxford Parkway station opens summer 2015. When it does, the journey to the capital will fall to an hour, making the city much more attractive to commuters.
Speaking to the Telegraph Glyn Buckley, director of Winkworth in Oxford, said: “Prices will rocket.”
- East Manchester
Football could have a lucrative tie to property development.
Research by Halifax says the average house prices in the streets near Manchester City’s Etihad Stadium have risen by 150 per cent in a decade.
With many new developments happening in this area, and as the rest of the city becomes much fuller, this particular region has great potential for a long-term investment.
Sarah Cole, property writer at the Huffington Post, argues that property in Liverpool is some of the most affordable, averaging at £91,175.
She says that while the average monthly rent is £494, investors can still make a very attractive 6.5 per cent yield, because demand outstrips supply.
And this demand is growing: a large university population, young professionals, and pensioners.
Another city expected to gain from a better connection to London. Estimates say 2017 is the year Bristol will get its new railway line, from London Paddington to Bristol Temple Meads. It will cut the commute from 100 to 80 minutes.
Speaking to the Telegraph, James Toogood, head of the Bristol office of Knight Frank, said: "This will provide a significant boost to the market and send prices up by between five and 10 per cent above market trends."
If you have a larger investment budget, look towards Southampton.
Property prices are higher – Sarah Cole from the Huffington Post puts the average at £143,011 – but if you can foot the investment then you get the rewards of a higher rent. At an average of £1,040, providing a yield of over 8.7 per cent.
How do I finance an investment?
No matter where you are in the country you can get funding fast. Borrow between £10,000 and £2 million. A bridging loan is secured against an existing property or a property being purchased as a first or second charge.
Call our Manchester office today on 08000 44 84 84 for more information.