As with most things that we buy online or in stores, most of us may do our homework and seek out the customer reviews or the star ratings for that product and go for the top sellers. Much in the same way, when buying property, buyers usually seek out the most popular areas that investors are buying in. in the UK, there are those hot spots and they will be the topic of discussion for this article.
Hot Spot #1. Manchester
One of the most lucrative markets ever to invest in is Manchester. This town offers an array of advantages to property owners and is the pioneering hub for both innovation and business ideas. It is being called England’s North metropolis and has been investing billions of pounds towards improving its attractive infrastructure and surroundings. This modernization will be the peak of new and upcoming industries and with is the large scale of opportunities within the investment front.
Over the past few years, it has been moving up the scale and establishing itself as the
Most significant residential market to date, especially around its city center where buying in the region only holds more advantages than disadvantages. Aspects such as access to transport links, health and educational facilities, schools and shops, mobile phone networks and community aspects all have an upper hand as opposed to buying in the country. This article will help decipher this in further detail.
Manchester’s metropolitan has invested more than £1.5 billion in funding over the past 2 years in new purpose-built properties and rental developments within its city center. The place is growing so much that it currently estimates a need for at least 3000 units per year, where the population will rise from the current 54,000 to 100,000 in the next 6 years.
What more can you want, from a place that offers a rich heritage, a multi-modal transport system, one of UK’s largest regional airport, and its world-class football club.
Hot Spot #2. Liverpool
If you didn’t know this by now, Liverpool is currently undergoing a vast regional regeneration, both private and government investment has been given a boost and the local economy is thriving whilst creating ample opportunities for property investors, and job opportunities for many. There are 2 focus areas for this happening at the moment.
- Liverpool Water – which is £5.5. billion worth mixed enterprise and business zone construction taking place. This is 60 hectares of Liverpool’s dockland that will be established as a mixed-use development.
- Knowledge Quarter – which is a 2 billion regeneration of the city’s education and medical facilities and hub. Incorporating the city’s main station along with its science, cultural, education, and health assets it plans to build a medical hub, Grade-A office space, and a new 70,000 sq. ft. facility due to be completed end of 2010.
The forecast for new development prices is set to rise by 2.4% and over the next 5 years, the industry is expecting growth of another 3% per annum for the property market. Also boasts a famous football club.
Hot Spot #3. Birmingham
After London, Birmingham has been considered UK’s second city. Over the past few years, the city has received an injection of huge investments making it ahead of the game in one of the best places to live and work and invest in property. With a positive outlook, the developing city’s activities have remained below demand levels which have established fierce competition for houses in the city.
There are a large number of new homes to invest in and are all within the city center, the demands of which will be predictably high over the next few years. According to this website hotspots guide, it is the country’s biggest financial centres, and companies such as HSBC and Deutsche Bank are heading in that direction, to move their office. This move will create several affluent professionals who want to create a home for themselves and their families here.
It has significant connections to both local and international destinations and boasts an international airport that serves 9 million passengers per annum to almost 150 different destinations worldwide. There is also a proposed rail link to be completed soon which will help commuters get to London from Birmingham within 50 minutes flat.
At the moment, investing in any of these 3 above places guarantee you a return on your investment in more ways than one.