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Manchester and Liverpool make 1st and 2nd spot on Zoopla’s Property Price Advice

by Nikki Dale -

REW specialise in sourcing the best UK build to rent properties and take many factors into account when finding the most lucrative long-term investments: annual growth, areas that are undersupplied and locations most effected by the UK’s housing crisis.

However, don’t just take our word for it, Zoopla’s Property Price Advice’s explains below the top two cities where to expect to see the greatest house price rises and rental returns for 2018.

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Manchester: House prices, rental values and property transactions in Manchester have all shot up again this year. This is due to a growing number of homebuyers, from home movers to property investors, put their money into England’s northern regions where prospects for further capital growth in 2018 look promising.

According to the Hometrack Cities Index which measures the rate of property price growth across 20 of the UK’s major cities, Manchester currently leads the way as the fastest growing city with an annual home price increase of 7.9%. This takes the average price of a home in the city to £158,800, rather affordable compared with the UK average.

Supported by a new BBC Media City, a major extension to the MetroLink tram system, expansion of the local airport, a new trendy Northern Quarter, not to mention the fact that it is at the centre of plans to create a Northern Powerhouse, Manchester continues to attract widespread investment across the city and this will inevitably lead to further growth.

Manchester also attracts its fair share of buy-to-let investors, which is understandable given that properties in the city generally offer higher than national average rental returns.

In fact, Manchester has just topped the latest LandInvest Buy-to-Let Index. This ranks postcode areas around England and Wales based on a combination of four critical metrics: capital gains, transaction volumes, rental yield and rental price growth.

With demand from tenants outstripping supply, we forecast that rents in the city are likely to rise further 2018, while house prices remain affordable. This suggests they offer room for growth.

Liverpool: Much like Manchester, the property market in Liverpool, supported partly by the Northern Powerhouse concept, has attracted a lot of media attention, not to mention both domestic and international investment.

Long stuck in the shadow of neighbouring Manchester, Liverpool has seen well below average house price growth over the past decade. However, there are growing signs that property price growth is starting to accelerate – we believe that 2018 is a good time to buy property in Liverpool.

At an average of just £117,700 according to Hometrack, the average price of a home in Liverpool remains significantly below the UK average – and still some way off the peak achieved in 2007 at the height of the last property boom.

The £5 billion Liverpool Waters scheme in the Central Docks area which will see 150 acres transformed, as part of the biggest regeneration project in the history of the city. This is currently attracting a lot of attention from property investors and developers, while there are also plenty of opportunities to invest further afield.

Whether investing in up-and-coming areas like Anfield in the L4 postcode district which is currently undergoing a major £260 million regeneration project or in the booming centre, the only way is up for house prices in Liverpool – a city where it is still possible to buy property from under £40,000.

Aside from offering excellent prospects for capital growth, Liverpool is also a major buy-to-let hotspot, with double-digit rental returns still achievable in some parts of the city.

 


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