New Hot Spots

Discussion in 'UK Property' started by rikkers, Jan 21, 2013.

  1. rikkers

    rikkers New Member

    Can anyone suggest where I should be looking in terms of towns and cities in the UK that offer the best potential long term growth.
     
  2. TurnKey Landlords

    TurnKey Landlords New Member

    Hi Rikkers,

    Recent trends evidenced in documents like the Countrywide letting index and HPI from the Land Registry suggest that tenant demand is growing fastest in the South of England, particularly the South East, and London.

    However, yields in these areas are actually on average slightly lower than those in the Midlands and North of England. Whilst rents in the South are higher (in some areas of London they are more than double the national average), house prices and mortgage repayments are also a lot higher.

    In the South, London, Brighton, Oxford, Cambridge, Canterbury and Guildford seem to see high tenant demand and decent yields. If you want to make the most of an investment in expensive areas like these, it is best to have as high a deposit as you can afford - with a low LTV you can access better mortgage rates and your monthly repayments will be lower.

    This post is my personal opinion based on current trends - not to be taken as definitive!

    All the best,
    B
     
  3. iom_keith

    iom_keith New Member

    Personally, if I had more money to invest in property, I would very seriously consider Morecambe. It is a depressed sea-side town that has suffered in the same way that most bucket & spade resorts did from the early 80's. So prices of property remains low.

    In addition, it has very poor transport links. It can literally take an hour from Manchester to the M6/Lancaster junction, then another hour to get in to Morecambe.

    However, the very long awaited (almost forty years since first proposed) M6 link road is almost through the last stages and is likely to begin being built late this year. There is also a very high probability that a new nuclear power station will be built there (Heysham) where one of the existing power stations is due to be decommissioned. With good transport links, I believe that Heysham Port has great potential too.

    The views across Morecambe Bay are stunning. With good access to the Lake District, a decent road to the M6 would make it a potential commute to Manchester, bringing further inward investment.

    Worth serious consideration in my opinion.
     
  4. Veronica

    Veronica Administrator

    The fact that a nuclear power station maybe built near Morecambe would for me be the biggest reason not to buy there. I certainly would not consider it a positive.
     
  5. clarkd384

    clarkd384 New Member

    You should look on the Market trends. In my personal opinion you can choose Brighton, Oxford, Cambridge, etc.
     
  6. iom_keith

    iom_keith New Member

    Understandable, but it will bring employment to a currently depressed area, which generally increases property prices. There are two nukes there already, so it is hardly going to depress the market.

    I live on the Isle of Man, so if the power stations go up, I'll be screwed anyway, at least in Morecambe they'll have a new road to get out of town on! :laugh:
     
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