Which UK cities are expecting property growth in 2020?admin
A recent study by Insurance Provider Simply Business has asked Landlords in which UK cities they expect the Buy to Let market to be the most robust in 2020.
The initial outlook for the UK property market in 2020 has been positive as a result of increased certainty and stability in the market due to the December’s election result, leading to many investors to consider which cities in the UK will offer the best opportunities for investing.
More than one third of landlords voted for London or Manchester as the top place to invest. While London prices fell by almost 2% in 2019, the drop in prices are seen as an opportunity to invest.
Manchester on the other hand saw strong growth of 4% in the 12 months to November 2019, with long term rental yields at 6.5% compared to 4.5% in London, providing a very attractive environment for investors.
While Manchester’s Buy to Let market is supported by a vast student population and it’s flourishing media scene, there are many factors to suggest it is a burgeoning city likely to see increased growth and demand in property.
The £1billion redevelopment of Manchester airport suggests that it will challenge London as the UK’s global flight centre, while more and more businesses are moving to the Northwest. The BBC famously moved much of it’s operations and staff to Greater Manchester, and many young professionals and graduates from the city are electing to remain there, attracting further corporate development. Expectations are that the city will continue to prosper and offer attractive opportunities to investors.
Property Wise UK provides knowledge and insight about the UK property market to help guide your property journey. We also work with specialists who are experienced in helping investors & first time buyers create high yielding profitable UK property portfolios. Complete our form to find out more.