Top 5 UK property investment hotspots outside London
Across the UK there are many up and coming property investment hotspots. Investing in property outside of London is increasing as investors seek less capital risk and more square-footage for their money. Twinned with strong rental yields and cheaper property prices, many investors that traditionally focused on London are now stretching their portfolio around the UK. We’ve put together our top 5 property hotspots outside of the capital city that offer great opportunities for investing in property.
At the top of the list, we have Norfolk, a lovely county in East Anglia that borders the North Sea on the east coast of the UK. With a plethora of attractions, picturesque towns and gorgeous beaches, Norfolk is a very popular area amongst holiday goers in the UK. Property investment around Norfolk has traditionally focused around holiday lets however homebuyers are increasingly turning their attention to property in and around the bustling city of Norwich and Fakenham areas, which continue to grow year on year. As such, you have huge property investment chances from both holidays rentals and permanent lets as people look to settle more permanently in the Norfolk area. Factor in the ever-growing city of Norwich with new housing developments planned and we believe property investment in Norfolk could be a winner!
Second on our list is Lincoln, a proud UK city full of history in the East Midlands. Amongst many other interesting facts, Lincoln invented the first WW1 tank back in 1915. Since then, the city has gone from strength to strength and is now home to over 130,000 people and a thriving University. This area has long been a hotspot for buy-to-let property investors looking to expand their portfolio as the city has continued to attract new residents and students. Unlike many other property hotspots around the UK, Lincoln hasn’t yet seen the steep rise in property prices that have rippled outside of London over the past few years. Twinned with the continued local investment and planned new housing developments, we think Lincoln is a hidden property hotspot that offers untapped opportunities for investors.
The walled city of York in northeast England with its vibrant culture and historic Roman origins continues to offer strong investment potential. With reliable rental demands and increasing holiday let potential, York is continuing to attract investors from across the country. With a growing economy year on year and excellent standards of schools and renowned Universities, property in York is of a much higher standard than other UK cities. Although not the cheapest city to invest in property, rental growth in York is an incredible 7% higher than any other UK city, outside of London. This presents an opportunity for buy-to-let investors who want to utilise the northern city for long-term investments that generate strong rental yields. Outside of London, the historic city of York is definitely an investment hotspot worth researching.
With its rich industrial heritage and famous footy teams, Manchester is a major city in the north-west of England. With a population of over 2 million people, Manchester is now one of the biggest cities in the UK with a wide diversity of residents. Within the city, Trafford, which is part of the metropolitan borough of Greater Manchester, is fastly becoming a property investment hotspot. With continued local investment in the areas huge shopping centre, football stadium and cricket ground, Trafford’s rapid growth in popularity continues to drive new demand for high-quality properties. The close proximity to central Manchester and it’s Universities highlights both student accommodation and professional lettings potential. Overall, the borough of Trafford offers a unique opportunity to invest in property.
The Welsh capital city of Cardiff, with a population over 1 million people is probably best know for being the centre of many unforgettable sporting spectacles. From rugby world cups to football matches and music concerts, the city’s Millennium Stadium is certainly a landmark worth visiting! With a mix of cosmopolitan business centres, water-front bays, city suburbs and historical heritage, Cardiff offers a varied and distinctive lifestyle. More importantly, the city offers a wide variety of property investment opportunities as areas continue to see local investment and serious re-development plans. Twinned with a fast growing population and increasing tourist numbers, investing in property in and around Cardiff is seriously worth a look.
There you have it; from York to Cardiff, Norfolk to Lincoln there’s no need to turn to London if you’re looking for great property investments. Just remember, the rest of the UK has plenty to offer with potentially strong return on investments if you can find the hidden gems outside of the capital city.