London is still a prime destination for real estate investment, but savvy investors are looking beyond the English capital in search of better rental yields. Not only are prices cheaper outside of London, but demand for rental homes remains strong in several cities. There are a number of non-London English cities smart investors are considering
Brexit has been a source of concern for some investors, but those from Southeast Asia view this time as an opportunity. With the pound falling against most regional currencies, real estate prices are more affordable than in the past. There was an initial rush on London property in the aftermath of Brexit, but more buyers are now looking beyond the capital. Here are three English cities smart investors are considering.
Best known for its football clubs, Manchester is also the biggest technology hub and creative centre outside of London. Young professionals from across the UK are moving here, and not London, because of its affordability and lifestyle.
For investors, the city is providing outstanding rental yields. IP Global found that Manchester boasted the highest rental yields in the UK at 6.02 percent. The real estate market shows no signs of slowing down with employment expected to increase in the coming years.
The city most famous for ‘The Beatles’ is developing a reputation as a property investment hotspot. Liverpool is home to the second highest rental yields in the UK. The 5.16 percent returns are significantly higher than what’s available in most London districts at the moment.
Additionally, a large student population makes Liverpool an ideal location for those investors wanting to leverage the education boom. More than 50,000 university students are studying in Liverpool with properties catering to the unique needs of this segment in high demand.
Many experts are predicting that Sheffield will be the UK’s next big property market. At the moment, the city has a significant housing shortage. The lack of modern, new-build developments, in particular, is noticeable despite there being a strong demand for units in this segment.
One of the few new-build projects in the pipeline is Great Central from Knight Knox and Qualis Developments. The fully-furnished units come fitted with everything residents could want. The development itself is located near the centre of Sheffield in an area very popular with the city’s growing number of young professionals.