- September 22, 2023
- Posted by: pr_finance
- Category: Investment
Looking for savvy suggestions on where to invest your money in property across the UK in 2023? This comprehensive ‘Investment Guide’ narrows down some of the best areas for property investment all throughout Great Britain.
Whether you’re an experienced property investor or making your inaugural investment, the UK property market offers exciting prospects in 2023. We have used a data-driven method to provide accurate insights, considering various crucial factors such as average property price, rental yield predictions, potential for urban regeneration, employment opportunities, infrastructure, and market demand.
The merits of the UK property market are numerous. It is indeed one of the most lucrative investment opportunities at present. So, without further ado, let’s delve into the top places to invest in property in the UK.
A favourite among property investors in the past half-decade, Manchester boasts an average property price of £231,656. Prospective investors can expect an impressive rental yield of 8.28% (gross) and a predicted growth rate of 11.7% by 2027. The city was named the best place to live in the UK, according to the Global Liveability Survey.
A skyrocketing demand-supply ratio in Manchester is causing its rents to rise swiftly, making it an ideal choice for those wishing to buy rental property. Furthermore, Oxford Economics predicts Manchester to experience the highest economic growth rate among all major UK cities, maximising its buy-to-let potential in 2023.
With an average property price of £177,803, Liverpool features impressive property price growth, coupled with a flourishing private rented sector. The rental yield here is 7.71% with a predicted growth rate of 11.7% by 2027.
Often billed as one of the best and most affordable destinations for property investment in the UK, Liverpool’s rental yields may not match up to other cities, but the combination of high yields with affordable prices is likely to produce strong returns.
Moving southwards, Birmingham strikes the perfect balance for those not keen on Northern investment. Birmingham, the second city in the UK, is noted for its young population and impressive regeneration projects. It boasts an average property price of £231,270, a rental yield of 8.29%, and a predicted growth rate of 8.9% by 2027.
Exciting future projects such as the Big City Plan and HS2 are slated to create 80,000 new jobs, warranting a rise in average rents. Birmingham’s property prices have seen considerable growth over the past few years, making it a top pick for 2023 investors.
Stealing the limelight with the highest average rental yield in the UK, Nottingham is definitely a noteworthy destination for property investment. The average property price in the city stands at £190,354 with a sky-high rental yield of 9.88% and an expected growth rate of 8.9% by 2027.
Nottingham’s house prices have increased by 39.5% since 2018 – 12% above the national average, suggesting investors seeking capital growth should undoubtedly consider this city.
Newcastle offers the perfect combination of massive returns and low property prices. Its average property price stands at £193,150, promising a rental yield of 7.65% and a forecasted growth of 11.7% by 2027.
Newcastle houses a large student population and offers excellent employment opportunities, which translates into excellent income potential for Newcastle property investors.
Lastly, Leeds. With an average property price of £235,566, Leeds might be pricier than other places on this list, but it’s worthy of investment. High rental yields and capital growth make rental properties in Leeds much sought after.
Home to the second-largest banking and finance sector in the UK, Leeds offers countless business opportunities. Furthermore, ongoing citywide regeneration efforts are set to provide significant growth.
The UK’s property market presents promising opportunities for investors in 2023. The areas listed above: Manchester, Liverpool, Birmingham, Nottingham, Newcastle, and Leeds, offer a blend of growth, high rental yields, and affordability that could provide excellent returns on investment.
It’s time to look ahead and invest wisely in the best areas for property investment across the UK. The ultimate guide to UK Property investments in 2023 has arrived; now it’s your chance to capitalise. For more information visit our website.