The 2020 UK COVID Bargain – 3 Areas Other Than London To Find Affordable Properties
London is traditionally the most popular location for UK property investors.
The high number of available tenants, potential capital appreciation and abundance of amenities allowed London to rise above other areas in terms of property sales.
While London still remains a viable investment option, Brexit and the COVID-19 pandemic have opened up windows of opportunities to invest in other up-and-coming UK locations.
When the COVID-19 pandemic is contained, other hotspots could establish themselves as “property hotspots”, and become alternative options to London.
In fact, many London investors have already diversified by purchasing property in other UK locations (more on them below).
Best of all, investors who act fast can take advantage of the “COVID Bargain”, and snag a high-gain UK property on the cheap.
To help you with make the most of a bad situation, here are 3 alternative locations to lookout for:
One of the largest towns in the south-east, Reading is a key commercial hub and home to heavy-weight businesses like Microsoft, Oracle, BG and many others.
It is also a quick 25 minute train ride to London, and has easy links to Swindon, Oxford, Heathrow and Basingstoke.
The connectivity and thriving business sector is why Reading is considered one of the fastest growing towns in the UK.
What’s more, the student population is increasing by the year, with many locals and foreigners choosing to further their education in Reading.
This gives investors a unique opportunity to capitalize on both ends of the market (student and professionals) when renting out their properties.
In 2019, 3,619 new homes were completed in Manchester, with an additional 12,357 under construction.
This housing surge is sparked by a dramatic increase in Manchester’s population, especially in the city centre.
A recent report from the Manchester City Council revealed that the population is set to hit 635,000 in 2025.
The increasing job opportunities are the catalysts for this Manchester population boom. Investors can take advantage by renting out their properties to a large pool of professional tenants.
Thanks to a decisive growth strategy executed to close perfection, Birmingham has developed the largest professional services sector in the UK outside of London.
This has led to house prices in Birmingham increasing faster than any other English city.
If that’s the case, is Birmingham property still worth investing in? Definitely yes! Because Birmingham’s meteoric growth is far from finished.
It’s estimated that the population will grow from around 1.2 million today, to 1.3 billion by 2039.
This will naturally result in a steady demand for housing, and a year on year growth in price.
Investors who purchase today can look forward to a house that can rise significantly in value over the years.
At this moment, the end of COVID-19 is nowhere in sight.
But this pandemic will be over eventually. It’s just a matter of time.
That’s when life will gradually go back to normal. The property market will slowly but surely recover as well.
Which means that investors who purchase the right property while the market is uncertain can enjoy a once-in-a-lifetime COVID Bargain!
We hope that this article gave you a better idea of “non-London” UK locations you can possibly invest in.
If you have questions about the property in our featured areas, or any other UK locations, feel free to drop a comment below, and our team of experts will get back to you shortly!
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