This is a great time to buy property in the UK. Whether you are a homeowner or a buy to let investor, you can benefit from rising house prices, strong forecasts for future growth and a new property cycle which promises to reward those who buy early.
But what are the top cities for property investment in the UK? Location is all important, and these areas have some of the most compelling future prospects across the country.
Buy apartments in Manchester city centre
Manchester is well known as one of the UK’s top property hotspots – arguably the best of all. The city has a booming economy, a fast growing population, great connectivity and not enough homes to go around.
Located at the centre of England’s vibrant North West region, Manchester house prices are going up more than twice as fast as the national average according to data from the Office for National Statistics and Zoopla.
This growth is likely to continue in the future, too. Figures from Manchester City Council show that even with more than 11,000 units in construction, with the city’s current rate of population growth there is a shortage of 500 homes per year, making Manchester city centre apartments for sale a premium opportunity.
That is a recipe for house price growth and makes Manchester a top city for UK property investment. See our latest opportunity in the city and get in touch with the team today to learn more.
Invest in Birmingham apartments
Much like Manchester, Birmingham is a city with a huge amount of momentum built up in its property market.
Research from Knight Frank suggests that the city needs 7,000 new homes a year to meet the existing demand and the extra need that will come with population growth. In reality, the Deloitte Birmingham Crane Survey shows that just 9,000 units are in construction and scheduled to finish in the next three years.
That creates the perfect conditions for house price growth and makes any property in Birmingham with good access to the city centre a great capital appreciation opportunity.
Bristol property for sale
Bristol is the biggest city in the South West of England and enjoys high quality transport links to London, Oxford and other high profile destinations.
The city’s economy is booming which is great news for homebuyers and investors. Economic success leads to population growth and more competition for homes, pushing property values higher.
The city is also being transformed by a range of large-scale regeneration projects which are making it an even better place to live. New green spaces, business areas, transport improvements, cultural sites and more are adding to what is already considered an international destination.
Rightmove data shows that property prices in Bristol are 8% higher than the 2021 peak, and there is much more to come thanks to a shortfall of 25,000 homes in the city – making this an ideal time to look at luxury apartments for sale in Bristol.
Buy property in Preston
Returning to the North West, Preston is a location that is attracting an increasing amount of attention. Described by some as being in the same position Manchester was before that city’s property boom kicked off, it’s easy to see why people are looking to get ahead of the game with Preston and invest before the boom.
The city is a powerhouse for education, with the University of Central Lancashire bringing in thousands of students from around the world each year. Preston is also regularly close to the top of the Good Growth for Cities Index and has a range of major regeneration projects underway.
When it comes to property, the regional Lancashire population is forecast to grow 7.6% in the next 25 years and much of that will be focussed on Preston. The average house price in the city is 13% higher than the pre-pandemic peak according to Rightmove, and Preston’s economic success means it is likely to keep growing along with the rest of the North West.
Savills predicts that North West house prices could rise as much as 28.8% by the end of 2028, making this an ideal time to invest in Preston. The city has a lack of luxury city centre apartments, meaning that buildings like The Exchange are right at the top of the list for any young professional or international student in the city.
Sheffield city centre property for sale
Located in the heart of South Yorkshire, Sheffield is a large city with a growing population, great connectivity to the rest of the country and an impressive higher education sector.
With Savills forecasting 20.2% property price growth across the region by 2028 and Centrick anticipating rental growth of 11% in the city by 2027, this is a great time to buy property in Sheffield.
Beyond that, it is likely that investment property in Sheffield will only become a more valuable asset in the future. The City Council is expecting the 556,000-strong population to grow by another 62,000 people in the next 10 years. All of those people will need houses and there is no way that Sheffield can build enough in that time.
Want to invest in Sheffield? Learn more about what makes the city such an impressive UK property hotspot here.
Why invest in Hull? An up and coming UK property hotspot
Finally, Hull is an up and coming UK property hotspot that buyers should make sure is near the top of their lists. Located on the East coast on the Humber Estuary, Hull is rapidly reinventing itself for the 21st century.
The city is home to some of the UK’s most important cutting edge industry. It is the heart of the renewable energy revolution and has a global footprint. Those high tech jobs bring in highly qualified professionals and international students from around the world.
For this reason, Hull City Council has estimated that an additional 10,000 people will move to the city by the end of the decade. All of them will need accommodation, but there is currently a lack of suitable homes.
That’s particularly the case in the city centre where there are not enough luxury homes of the sort that professionals and international students desire. That makes any premium property in the city centre like The Merchant a valuable prospect with high growth potential.
Learn more about what makes Hull such a strong up and coming property market and get in touch with the team today to discover the latest Hull property for sale.
Buy apartments in Bath
Bath is located in the South West of England and has been a destination for thousands of years since its origin as a Roman spa town.
Now, it is home to modern industries and the City Council has plans to create an additional 65,000 jobs in the area by the end of the decade. Add in population growth of of 9.9% over the last Census period and it's clear to see that this is a place on the up.
However, there are not enough homes in Bath to go around and construction rates are low. Competition for the best properties is high and this is causing prices to go up fast. House prices (4.5%) and rents (8.4%) are growing strongly year-on-year according to the Office for National Statistics.
That makes property for sale in Bath a valuable commodity and a great investment for any buy to let landlord or homebuyer interested in capital appreciation.
On top of that, the city has direct transport links to London and a stunning riverfront that offers some of one of the most beautiful living environments in the UK.
Want to be the first to hear about new Bath investment property for sale? Get in touch with our team today to be at the top of the waiting list for new opportunities.
