Press Release Summary = The average property investor makes their investment with an eye to two markets - buy-to-let and (eventual) resale. It is important, therefore, that the investor purchases property in the right area - but also at the right price. Property price indexes and reports from estate agents confirm that London is in many ways the epicentre of the property industry in the UK.
Press Release Body = The average property investor makes their investment with an eye to two markets - buy-to-let and (eventual) resale. It is important, therefore, that the investor purchases property in the right area - but also at the right price. Property price indexes and reports from estate agents confirm that London is in many ways the epicentre of the property industry in the UK.
It has the most vibrant rentals market, thanks to a huge population, a significant proportion of which is transitory. It also has the most expensive property prices. One report recently stated that it was not possible to find a three-bedroom house in the Greater London area for less than £300,000.
However, while this means that a high resale value is practically guaranteed, a large initial outlay of capital is also going to be required to make the investment in the first place. For the investor making their first entry to the market, or lacking the requisite funds, London will most probably be off the menu. However, there are plenty of bargains to be had elsewhere in the country - and many of these areas offer significantly better profit margins.
For a lot of people living in the south of Britain - and particularly the south-east - property prices are excessively steep in relation to their salaries. This is true even for those that are on London-weighted wages that take into account the increased cost of living in the capital.
According to Homes & Property magazine\'s Kate Hamilton, these people are much better suited looking for an investment in the north - and it seems many are taking that advice. \"Perhaps they might buy a property further north and rent it out, then continue to rent themselves in the south east,\" she says.
According to Ms Hamilton, northern cities such as Manchester and Leeds are \"attractive\" to people at the moment because they \"offer similar job opportunities to London\". Scotland is also an up-and-coming area, she says, describing Edinburgh and Glasgow as \"both very cosmopolitan cities with a lot of nightlife and job opportunities as well\".
The lower rents in these areas, compared to the south, mean people can make the most of their wages and investors can acquire properties for a reasonable price. Rental incomes can be used to cover most or all of the mortgage payments on a property and ever-increasing house prices means it will be possible to realise a healthy profit on resale.
2022
