Personally, I think the best place to invest in property is the North West. Below I will show you why…
Whether you’re looking for high rental yields, capital growth potential or stability of house prices, the North West has it all.
But you have to know which areas to look at…
Sure, in some locations you can go very cheap and buy two bedroom terraces for £40,000. But are these the best investments? Personally, I don’t think so…
They might give fantastic rental yields on paper but the reality is the tenant profile won’t be so great.
This could mean it will be difficult to achieve the returns you hoped for due to factors such as tenant arrears, void periods and higher maintenance costs.
When you’re investing in property you need to strike a balance between price, rental yield, tenant profile and growth potential.
So, I focus on 3 key locations.
…Because these areas offer a great mix of these vital elements.
…And how do my research and my experience actually translate into helping you find the best property investments?
Let me share with you three reasons…
Reason #1: Local Knowledge
I believe that one of the secrets to finding a great deal is to know more about an area than the competition.
I’ve lived in all of these areas and still live in South Manchester to this day where I have also worked as an estate agent. I’ve invested my own money in property in all of these areas.
So I know which streets and estates have their ‘for sale’ or ‘for rent’ signs up month by month. I know which areas attract the best buyers and the best tenants properties become available.
Also, because I’ve lived in these areas for years I’ve built up a little black book of contacts from whom I get to hear about great investment opportunities as they come up.
Reason #2: Excellent Rental Yields
Another thing I like about these 3 areas is that they offer what may be the best combination of rental returns, capital growth potential and tenant demand not just in the North West but for most of the country.
In my experience properties in these areas consistently outperform properties I have purchased in other areas.
Purchased at the right price, these areas offer single let, gross rental yields of 8%+ and multi-let, gross yields of 12%+.
These are very good numbers.
Reason #3: Ongoing and Future Investment in the North West
As we all know large-scale investment in an area can really push up property prices and there is significant on-going and planned government and private sector investment in these areas. This will mean improved infrastructure and the creation of jobs for many years to come.
This is likely to mean that, compared to other areas in the North West, South Manchester, Chester and Warrington should see far greater increases in home prices and tenant demand.
Resources
For Property and Area Statistics, Check Out:
- Rightmove House Price Statistics to see local area market trends.
- Zoopla Area Guides – Great to check property prices, market rents and property heat maps.
For Local Information See:
- Cheshire West and Chester Council Housing Population Topic Paper
- The Chester Northgate Shopping and Leisure Project
- Warrington Council Strategic Housing Market Review
- Invest in Cheshire – Warrington & Co
- Manchester Council Housing Strategy
- South Manchester Metrolink
See Also
- Property Investment in Manchester
- Property Investment in Chester
- Property Investment in Warrington
- Property Investment in the Isle of Wight
- Property Investment in Birmingham
- Property Investment in Newcastle
- Property Investment in London