The North West has been recognised as one of the most promising areas of the UK for property investment, coming second only to London. Research has found that the North West is the only region outside London that has already surpassed the 2013 investment level of £1.8bn.
North West England has reached volumes of £2.3bn worth of property investment and is set to ‘return to pre-recession levels’ by the end of 2014.
2014 has been a very promising year for property investment, by December it is set to outgrow 2007, which has been the best investment year on record for the North West.
A slight decrease in the price of housing in London suggests that property investors have begun to look elsewhere for high yielding projects, particularly the North West as even its lower priced property produces a higher yield than expensive London properties, according to research from TotalMoney.com.
Property experts Colliers have suggested that the reason for the increase of investments outside London is down to property investors looking for higher yields, which the North West can offer. One of the North’s major cities, Manchester, is also undergoing a lot of renovation and development which could be attracting property investors.
Manchester have recently agreed a devolution deal which will see the city gain their own mayor, a major event in the city’s history. That’s not all that the North West has to offer, Liverpool and its other major cities are all university towns making them hotspots for student property investment, a major draw for property investors.
The developments within the North West are one of many reasons that investors are choosing the area as well as the promise of net returns of 10%.
Mistoria Group are property investment experts, specialising in student property investment around the North West, for more information on our services email us at email@example.com or call us on 0800 500 3015.