It’s never been more important for investors to stay ahead of the property curve. After all, with Brexit on the horizon, conversations are naturally turning to how with UK’s withdrawal from the EU will impact the housing market.
Whatever the impact, though, UK property will still be in demand. As James Greenwood, regional director of Stacks Property Search, says: “Only an end to the indecision that we have been suffering since June 2016 can free up the market. And whatever the outcome, we will certainly see a significant increase in activity.”
So, while 2019 may host unique circumstances for investors, there are still deals to be done and money to be made if you look in the right places.
With this in mind, we’re here to share our picks for the top property hotspots that you should consider for 2019.
10th Place: Edinburgh
Edinburgh is undoubtedly one of the success stories of 2018 and its growth looks set to continue into 2019. This is illustrated with Zoopla figures showing that the Scottish capital has the fastest selling properties, taking on average just 22 days to move.
Add to that a thriving student population and investment from major companies like Travelodge and Amazon, and it’s not hard to see why Edinburgh is an attractive prospect.
9th Place: Warrington
The North West has become a powerhouse of property investments in recent years, and it’s not just the major cities that are providing opportunities.
Warrington is ideally situated between Manchester and Liverpool, with accessible housing prices and significant investment in the form of an Amazon warehouse and another 758,000sq ft of speculative warehousing set to be added to the Omega logistics site.
8th Place: Slough
The North may be dominating property investment, but there are still some opportunities further south if you prefer the weather, and Slough is one of them.
With the long-anticipated Crossrail due to complete in 2019, Slough will benefit from another key commuter link to London that could see prices increase drastically.
7th Place: Newcastle
The first of the major northern cities in England to be featured on this list is Newcastle and with good reason. Its reputation for enjoyable city centre living is attracting a growing number of young professionals.
This is just one of the reasons the city saw a 112% increase in population between 2002 and 2015. Even better, this growth seems to have outrun house prices, which remain at affordable levels.
6th Place: Leicester
Leicester has long flown under the radar as a city and a UK property hotspot. Perhaps it’s been their footballing success or habit of digging up lost kings, but finally, investors are starting to look at the city seriously.
And why shouldn’t they? Leicester house prices have increased by 250% since 2000 and its central location makes it easy to access major cities like London in as little as an hour.
5th Place: Birmingham
Birmingham’s five student campuses and high graduate retention rate means the city boasts a strong pipeline of future professionals and entrepreneurs.
Not only does this suggest Birmingham will continue to grow in popularity, but its young population means that high-quality, city centre property will continue to be in high demand.
4th Place: Leeds
Leeds is a sleeping investment giant that is waiting to be woken up. Following the 2008 property crash, Leeds was left with a surplus of accommodation, which led to the perception of low demand.
What investors are beginning to realise though is Leeds is one of the fastest growing cities outside Manchester and that over-supply of accommodation has become an under-supply. Perhaps that’s why there are now proposals for an £85 million investment to build 10,000 new homes in the city
3rd Place: Greater Manchester
If you’ve heard anything about property investment in the UK in the last few years, it’s likely been that Manchester is the premier investment hotspot.
Thanks to the strong investment opportunities in the city centre, surrounding areas are now beginning to grow in demand. Just as we saw with London, this ‘ripple’ effect is expected to see locations such as Bolton and Stockport gain popularity.
Keep an eye on areas close to the tram line or plans for new tram stations to be added as an indicator of potential property hotspots.
2nd Place: Manchester City Centre
How can we talk about the impact Manchester has had on surrounding areas without mentioning the city centre itself?
Manchester’s exceptional social scene and affordable prices make it popular with students who go on to work in the city. This makes the city’s graduate retention rate consistently one of the best in the UK, only missing out to London.
There’s no sign of this slowing down any time soon either, with the Northern Powerhouse vision expecting to create another 850,000 jobs by 2050. This makes Manchester a popular city for young and experienced professionals alike.
1st Place: Liverpool
Liverpool has had the fastest growing economy of any non-capital city in the UK since 1998 and was the fastest growing city towards the end of 2018. It goes without saying then that the former European Capital of Culture is on the mind of many UK and overseas investors.
Like Manchester, flagship developments such as the £5 billion Liverpool Waters scheme and £14 billion Regenerating Liverpool plan have rejuvenated the city. Also, the Liverpool Local plan aims to deliver 38,000 new jobs and 35,000 new homes by 2033.
All this makes Liverpool our pick for the strongest property investment hotspot in the UK.
One Final Thought…
All of the locations we’ve laid out have the potential to provide you with an excellent investment opportunity. However, like any location, there are good and bad areas for investors.
Of course, you should always take your time to do your own due diligence, alongside speaking to local experts. At Taylor Rhodes, we specialise in the North West property, with specific expertise in the Manchester and Liverpool markets. Get in touch today to learn more.