Join CityClub Today to Receive:
Is it a Desirable Location?
The right property investment will help you achieve your property goals, whether they are short-term or long-term. Therefore, selecting the best investment location is crucial. The pandemic and lockdown restrictions have realigned priorities for many. Research has shown a surge in buyers looking for places with easy access to parks and open spaces. It is important to consider any amenities in the area. From outdoor gardens and parks to local supermarkets, banks, and restaurants. The surrounding area is just as important as the development itself.
Many investors choose to buy in city centres such as Manchester and Sheffield, where demand is high and rental yields are on the rise. For instance, in Sheffield, the average property price sits at £214,445. This is below the UK average house price of £249,309. Therefore, buyers can secure purchases with a much smaller budget in comparison to other cities such as London. Outside the capital, it is evident prices are cheaper, so investing in smaller cities is also profitable. There are great off-plan developments located in commuter belts and towns with growth potential.
Are There Strong Connectivity Links?
A profitable investment stems from a development positioned in a well-connected area. Strong transport links attract a higher number of commuting working professionals. Enhanced air, rail and road accessibility are the key drivers attracting tenants.
Developments positioned in close proximity to train stations and airports are much more desirable to tenants. The HS2 is currently the largest transport development across the UK., aiming to provide efficient services and reducing travel times between cities. Therefore, people working in the capital can rent homes out of the centre at a cheaper price and still commute to work.
Are Rental Properties in Demand?
A short-term investment focuses on the rental perspective of a property. Rental yields are determined by location, property price and demand in the area. Rental demand is normally higher in cities with a large university scene and a growing working population. Thus, boosting rental prices, mitigating the risk of vacant properties, and ensuring a continuous cash flow. However, it is important to note demand is also increasing in neighbouring towns.
Data released by the Aldermore Tracker reveals Hull achieves the highest short-term rental yields of 9.2% across the 50 cities in the UK. Cities of Yorkshire & the Humber perform the strongest in terms of overall rental yields, this is primarily due cheaper house prices and rising demands.
City Regeneration Plans in the Pipeline?
Investors with a long-term goal will generally analyse the surrounding landscape. Considering any regeneration schemes underway or in the pipeline. For example, Sheffield is currently enhancing the food and leisure scene and revitalising the business area. The Heart of the City II development is set to grow the area, attract businesses, and increase employment. The city of Hull is also revamping the area with new business hubs and opportunities for skilled professionals. Moreover, these factors will contribute to a booming economy and strong capital growth. Over time, the development purchase will increase in value, making it a profitable investment opportunity. If you purchase the development off-plan, by the time of completion, the property will increase in value.
Proposals Tailored to Suit You
Whatever your reason is for investing in property, a CityRise consultant will always take the time to get to know you before choosing the appropriate investment. Our property proposals are always tailored to suit your situation and preference.
All our developments, including those off-plan, have been carefully selected based on their overall reputability, security, location, price and potential returns. Each investment undergoes a complete vetting process and is checked using a thorough due diligence report. We work with reputable developers delivering high-quality and energy efficient properties in prime investment locations. Why not speak to one of our consultants today to secure your off-plan investment?
Landlord Guide: Why Energy Efficiency is Still Important
The EPC requirements for landlords, for new properties to have a rating of C or above by 2025, was scrapped last month. However, should a landlord...
How Can You Lower Bridging Loan Rates UK?
Many looking for a short-term financing solution in the UK often avoid bridging loans due to their interest rates. However, there are ways to better...
Best Cities in Yorkshire for Property Investment
We have already established Yorkshire as a prime investment spot for property with fantastic capital growth potential. From its skilled sectors and...
Bridging Loans: The Ultimate Guide
What are bridging loans and should property investors consider them? Our ultimate guide covers the costs, criteria, and process of bridging loans....