Are you considering moving home in 2021? Here is an extensive list of property hotspots. These homes are excellent for long-term investments and rental returns as they are located in the most popular places in the UK.
Birmingham has consistently found its place in the list of property hotspots in the UK. The rental average in the region has increased by 30 per cent in the last decade. With several projects lined up, including the Midlands Metro extension, HS2 and the 2022 Commonwealth Games, Birmingham has notably seen an increase in its appeal for property investments. Our expert agents in Birmingham have helped investors secure the perfect property with high returns here. The average price of a property in Birmingham is £202,162. The rental value is calculated at an average of 5.4 per cent% of the property value.
Manchester is another property hotspot in the UK that has not seen a slump in prices for a long time. The property prices are projected to grow by 17.1 per cent in the forthcoming years. Manchester witnessed an 84 per cent increase in global business and employment growth between 2002 and 2015, which has led to a growing number of professionals seeking housing in the region. The Great North Rail Project, which will allow over 40,000 passengers to commute across cities, is another solid reason for a steady price rise in properties. The average price of a property in Manchester is £242,311 and will have a rental income of 5.37 per cent.
Nottingham is considered one of the key investment areas in the United Kingdom on par with Birmingham. The rental yield from Nottingham is calculated to go up to 9 per cent, and it includes the city postcode of NG1 and NG7. This region is quite popular with the city’s two universities, and the Queens Medical Centre, a teaching hospital with 6,000 medical staff. These have ensured that the demand for properties in Nottingham keeps increasing. The average price of a property is £214,435, and it provides a rental yield of 4.66 per cent.
Newcastle is the eighth-largest city in the United Kingdom. It is one of the best investment spots in the North East of England, and it is also one of the most affordable locations. The region also offers one of the highest rental yields of 6.5 per cent. Newcastle provides many opportunities for the graduates, start-ups and young professionals, which is the reason for the higher renter yields. Our experienced estate agents in Newcastle have helped several students and professionals secure a rental property in proximity. The average price of the property in Newcastle currently stands at £198,307.
Leeds has over 800,000 people living there, with most of them renting their accommodation, hence why Leeds is one of the best locations if you are looking to invest in a property that will guarantee long-term tenants and consistent returns. Leeds is rapidly growing and has seen a steady growth that is predicted to be over 13.7 per cent, and the cumulative rental yields are considered to be at 14.2 per cent as years pass by. The average price range of a property is £268,037.
Sheffield is fast improving with several developmental projects implemented at the cost of £480 million to make it a retail district. This has made Sheffield a popular area for rental accommodation. Sheffield is also seen as one of those cities that is steadily recovering from the lockdown, with property sales 20 per cent higher than at the start of the year. The average price of a property is £209,405, and the rental yield is about 5 per cent and is foreseen to increase to 11.41 per cent in the next five years.
Liverpool is the most popular hotspot in the North West with high yielding returns for property investment. The Baltic Triangle is one of the most coveted places to live in the UK, and our estate agents in Liverpool, with their vast database, has helped many investors zero in on the best-suited property. The city has annual rental yields of over 10 per cent. The study has projected a rise of 13.1 per cent in the coming years. One of the main reasons for this is the Liverpool Waters scheme being implemented at a budget of £5.5 billion. It is expected to open up employment opportunities of 17,000 people and would become the ideal place for people looking to buy properties in a lower price range. The average price of a property in Liverpool currently is £186,527.
Cardiff is a popular choice for its Welsh heritage and a particularly young population. The universities and the vibrant culture have made it a hotspot for property investors looking for rental income from their properties. The rental yield at Cardiff has consistently been 6-7 per cent in the past few years. If you are looking for a steady source of returns through your property, Cardiff is the best choice.
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Investing in a property needs a lot of retrospection on various aspects. So why not contact our estate agents to help you find the perfect home in the rising hotspots of 2021?