While buying a property nearby may seem to be the only answer available to many people, the untapped opportunities in Northern cities, such as Leeds and Sheffield, can offer a number of advantages.
Lower Property Prices
With the average property costing just shy of £550,000, most people simply can’t afford to invest in London. Including fees, the funds required would be about £160,000 and with that kind of money, you can purchase 3 properties in the North, giving you nearly twice as much profit.
Higher Capital Growth
Despite the high property prices in London, properties in Northern cities are actually growing at a much faster rate. As reported by Rightmove, on average Leeds and Sheffield have a current growth rate of 7.4% p.a. and 8.2% respectively, while most of London is struggling to hit 1% p.a.
Excellent Rental Returns
Low property prices and increasing rental returns means that Northern cities offer some of the highest yields in the UK. Rightmove recently reported that the average rental return in London is 3%, whereas cities like Leeds and Sheffield typically achieve returns in excess of 6%.
Leeds
Low purchase prices and high rental demand has made Leeds one of the UK’s top property investment hotspots over the last few years.
A number of redevelopment project are set to transform this enterprising city over the next decade, making it an excellent time to start investing in the Leeds property market.
Leeds
Low purchase prices and high rental demand has made Leeds one of the UK’s top property investment hotspots over the last few years.
A number of redevelopment project are set to transform this enterprising city over the next decade, making it an excellent time to start investing in the Leeds property market.
Sheffield
Located in South Yorkshire, Sheffield is fast becoming a property investment hotspot, thanks to a growing population and relatively low property prices.
With the peak district on its doorstep and plans for a range of major regeneration projects that will increase its economic importance, Sheffield could be the perfect place for you to purchase your next investment property.
Sheffield
Located in South Yorkshire, Sheffield is fast becoming a property investment hotspot, thanks to a growing population and relatively low property prices.
With the peak district on its doorstep and plans for a range of major regeneration projects that will increase its economic importance, Sheffield could be the perfect place for you to purchase your next investment property.
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