Why Are Investors Now Looking Outside London?
According to TheMoveChannel.com, Investors are bidding farewell to London. Today investors are turning to the cheaper alternative, the UK regional markets, due to their property investment deals. The property portal’s latest Investment Watch report shows that the UK’s regional cities made up 4 out of 10 most popular listings on the portal in March.
In September 2014, London dominated activity on TheMoveChannel.com, thanks to an affordable property fund offering a fixed return of 32% on real estate. Just 6 months later, the Investment Watch chart is filled with regional hotspots, as buyers turn away from the cooling capital.
Budget continues to be a major factor in investments: 9 of March’s Top 10 listings were all priced under £100,000. Car parks proved popular, thanks to advertised high returns, great locations, and entry costs of less than £35,000.
TheMoveChannel.com Director Dan Johnson comments: “The UK property market has enjoyed strong, rapid growth in the past 18 months. While a lack of supply is hindering traditional buyers, conditions within the private rented sector are ideal for landlords, thanks to low mortgage rates and high demand from tenants.
“Away from London, where high prices reduce the potential rental yield, buy to let is now a major driver of activity on TheMoveChannel.com, with hotspots such as Liverpool and Manchester already delivering on the promise of a northern powerhouse ahead of HS2 and HS3. Hotels are enjoying the benefits of strong demand and an improving regional economy too and their hands-off management make them particularly attractive to investors.”
Lifestyle buyers also continued their return to European markets in March, focusing primarily on Spain: Spanish property made up two of the month’s Top 10 listings, including the La Manga resort in Murcia (third most popular) and repossessed homes across the country (ninth most popular).
Johnson adds: “With low prices, sunny weather and the pound at a seven-year high against the euro, Spanish property has rarely been more popular. It is testament to the appeal of Spain’s housing market that it is one of the few countries outside of the UK to appear in TheMoveChannel.com’s Top 10 March listings.”
Original Article written by Ivan Radford from TheMoveChannel.com