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07 Sep 2021

Best Emerging Locations For Property Investment

When we talk about the ‘best places to invest in UK property’ it seems to be the same key players that keep cropping up. Of course, they are famously the best investor locations for a reason. However, there are a number of emerging investment locations that are hiding in the shadows of the bigger cities. Emerging locations are often missed by investors, but they actually present some of the best investment opportunities.

Slough

Slough is a unique property investment opportunity and a fantastic emerging commuter town. The town has a plethora of business prospects, some of the highest salaries in the UK, and unemployment rates that are one-third of the national average. Amazon, Mars UK, Blackberry, and 02 are among the large global corporations that have chosen to locate there. As a result of having such a well-paid workforce, residents can afford significantly higher rents. For investors, they are able to have confidence in their achievable rental values.

Also, the rise of investing in commuter towns is something we are constantly referring back to in our CityRise articles. Especially as London property prices are becoming increasingly unaffordable, Slough is the perfect alternative for those looking to move outside of the capital. Although prices are still high, they are still significantly lower than London’s, which we know to be extortionate. For investors, they are able to source property that benefits from London’s gravitational pull but for a much more affordable price. Slough’s fantastic transport links mean the town sits perfectly on the London commuter belt. As a result, Slough is certainly one of the more prosperous, emerging investment locations.

Kingston upon Hull

Situated in the South of Yorkshire, Hull is another great example of an emerging investment location. While it may not initially spring to mind as an investment hotspot, this unique city has grown rapidly. Hull is one of the most affordable places to buy property in the country. This means that in the long-term, this growing city will end up being extremely prosperous for investors. Property prices in the city have already grown by 10.7% in 2021. Even despite the end of stamp duty holiday and uncertainty surrounding the pandemic, Hull’s property market has remained extremely robust. Buy-to-let landlords can also benefit from a huge pool of potential tenants from international students and young professionals.

Hull also has an extremely robust tourism industry which has played a prominent role in its economic regeneration. With many great landmarks, including the deepest aquarium in Europe, The Deep, Hull entices tourists from across the country.  In addition to winning the title of Capital of Culture 2017, Hull is also seen as the ‘Most Poetic City’, as it is home to noble poets including Philip Larkin and Andrew Marvell.

It does not end there, as this diverse city is also a lesser-known regeneration hotspot. Over the last 8 years, £1.5bn of regeneration investment has been poured into the city. These projects have acted as a catalyst within the city, which, in 2017, led to Hull being ranked as one of the three fastest improving cities to live and work in. Consequently, professionals, families, students, and businesses are reaping up the benefits of this cultural capital. With such affordable prices, the achievable rental yields are extremely attractive to investors. Therefore, making Hull a standout, emerging investor location.

Crosby

Crosby is yet another commuter haven. Close to the beach, countryside, and the city – Crosby is the best of all three worlds. Just a 20-minute, coastal drive, or short train ride away from Liverpool, Crosby has city centre amenities at arm’s reach. It is no surprise this suburban haven has ranked one of the best places to live in the UK by The Sunday Times.

Famously, Liverpool is one of the most affordable locations to buy property in the UK. On average, the price for a house is around £194,108 which has rapidly grown by 22% over the last five years. This comes as no surprise, as demand has continued to rise in the area. Over the last year, the market has seen a complete turnaround. Demand has soared in suburban areas. Many people moved out of the city, as the pandemic ignited a need for more space and outdoor amenities.

Outside of city centres, residents are able to buy a property with more indoor and outdoor space, for a much cheaper price. Therefore, investors are looking towards commuter towns rather than city centres. Investors can acquire a lot more for their money in smaller towns too. Albeit the lower prices, rental demand is still exceptionally high. Therefore, the prime, emerging investment location for property investment.

Brighton

Recent statistics have shown that Brighton has some of the fastest rising rents in the country. Thus, proving to be an emerging investment location. Over the last 10 years, Brighton has shown fantastic capital appreciation as the city continues to grow. Often referred to as London-by-the-sea, Brighton has cemented its status as a dynamic, liberal, tourist attraction. Thousands travel to Brighton every year for annual events such as Brighton LGBTQ Pride. Brighton’s popularity also means a high proportion of long-standing tenant demand. For young professionals looking to move outside of the capital, Brighton is one of the most popular choices. As a result, these tenants end up staying in rental accommodation for extended periods.

With exceptional transport links to London, Brighton is seeing plenty of commuters moving there. Most commuters will be on London salaries, willing to pay London rents, but prefer living by the beautiful seaside. Pulling in 9.5 million tourists each year, Brighton regularly tops the leader boards as the happiest place to live in the UK. In the last 12 months alone, property prices have increased by 15%. Brighton’s property market is one of the strongest in the UK, remaining extremely resilient throughout the pandemic. As a result, it ranks as one of our emerging investment locations.

CityRise Verdict

Often, investors only have tunnel vision for the more well-known investment locations. Whilst they are an obvious and reliable choice, there are plenty of emerging locations that can be equally as profitable. Often, they are much more affordable than their city centre counterparts and in turn, can offer much higher rental yields.

With the buy-to-let market booming, and the ever-popular London market stagnating, investors are beginning to widen their property investment search. If you are looking to expand and diversify your portfolio, these emerging locations offer fantastic opportunities.

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