Hi, it’s Rob from Property Investment UK.
In today’s video, we’re going to be looking at the seven best locations, I believe, in the
North West that you can currently buy property and two of these probably are not on any traditional
type of list you might be currently seeing. Now, this list of locations is areas that
I prefer based on 11-plus years now of experience of investing in property. Not only finding
properties for clients, but also having properties ourselves over a long period of time, so what
the tenants have been like, what the growth has been like, what the availability of decent
deals, housing stock, different strategies that you can operate in these different locations.
I’ve invested across the whole of the North West. We’ve got properties from North Wales
all the way up to North Manchester and a number of areas between. We’ve got quite
a good grounding on what kind of properties, what locations are kind of working. That I
want to hopefully help you with in today’s video is give you an idea of the seven key
areas that I personally like to focus on now. The first area I would say – and this is no
order of kind of preference. It’s just this is the first on the list if it were – is Salford.
Salford is very close to Manchester, to the extent that you can walk into Manchester city
centre from Salford. It will take you five minutes because it’s very close geographically
in terms of the kind of connections, I guess. Salford as an area has still lots of growth
potential so the long-term benefits of the area, I still see a lot of potential there.
The yields are also great for Manchester. You can get some very solid rental yields
in Salford, both for a straight forward buy to let, usually 7%, 8% – all the way through
to more kind of HMO higher yielding cash flowing properties. You’re going to get comfortably
12% plus on those HMOs. There’s just lots of potential in Salford as an area.
Next up is Tameside, the opposite side of Manchester to where Salford is. Salford is going
to be to your west, Tameside is going to be to your east of Manchester. The reason why
I like Tameside is again, the rental yields are very good, but also the tenant
profile is very good. You’ve got affordable housing there that’s going to be fantastic
to rent and it will give you a very good professional tenant profile. Tameside is a good location
to consider as well. Third location choice is Manchester Central
and Manchester South. They’re the kind of combined location but they offer the same
benefits. Personally that I can see with those locations is the growth is fantastic at the
moment. Historically it’s been very good. This year it’s been really good growth in
terms of capital growth and also rental appreciation. The growth aspects are there. The second reason
is the tenant profile is very solid, very strong, but the yield is a little bit lower.
Looking at options that are going to give you a higher rent so yield is good, so serviced
accommodation is fantastic in Manchester. Separate to that, look at options that allow
you to maybe do flip projects. The resale market is fantastic in Manchester Central
and South as well. Growth prospects, rental in terms of the tenant profile is very solid,
and other rental strategies like serviced accommodation is also viable and possible
in that location. That’s why I love kind of Manchester.
Number four on the list is Wigan. It’s an area you may or may not have heard of if you’re
looking at kind of the North West. It kind of goes under the radar a little bit. What
you’ll get in Wigan is a fantastic combination of affordable housing. It’s affordable not
only as an investor, but for the local housing market, which is very important. You’ve got
a good mix of homeowner demand and buy to let rentals. It gives you a good balance.
The growth in terms of prices is potentially there as well, and also the rental yields
are very good. It’s a straightforward buy to let prospect. It gives very good returns
and you can run other strategies there like HMOs and other kind of rentals in that location.
You’ve got options within an area. Wigan gives you a nice grounded all-around combination.
Number five on the list is Chester. Now, this is a fantastic location for things like serviced
accommodation, things like flips. The buy and hold, vanilla buy-to-let rental yields are a little bit low what we’d hope for on our kind of portfolio. Fantastic tenant
profiles and great long-term tenants, but the holding yields can be low. If you combine
that with serviced accommodation, you can get some great yields. However, separate to
that, what I’d also suggest looking at is flips in Chester. Resales to homeowners is
very strong, give you a good homeowner demand in that locations. Chester gives some great
opportunities for capital growth but also great opportunities to do things like flip
projects. Number six on the list is Warrington. Similar
to Wigan in terms of the reasons why you might consider as an area, the yields are still
good. Personally, I think the growth prospects in Warrington are a little bit higher than
Wigan. The downside is that property prices are increasing currently to the stage where
yields are getting a little bit kind of close to some other areas where it may be offer
better growth prospects than even what Warrington can currently do at the moment. There’s probably
a nice short-term window in Warrington that works currently very well for a combination
of rental yields, growth and resale prospects if you did want to consider that. It’s a busier
market than Wigan but I’d probably say yields are currently just kind of on that cusp. Now
it’s probably the time to look at it as an area.
Number seven on the list is Wythenshawe. This is an area within South Manchester, past the
traditional areas of South Manchester that I’d usually suggest. From a growth perspective,
it’s massive. Very close to Manchester airport, lots of infrastructure going on there. Lots
of development, lots of companies investing. Metrolink as well goes through Wythenshawe
so you’ve got easy access to Manchester city centre. House prices have gone up significantly
in the last sort of 12 months. As an area, I think it’s still got a lot to grow in terms
of house prices so it’s a very good location currently and it’s got some great potential.
It’s one that kind of goes under the radar a little bit because the yields are maybe slightly
higher if you go further afield but you get still some very solid rental yields
of about 7% plus in Wythenshawe, but your growth prospects, your resale market is very
strong as well and there’s a lot of infrastructure investment there. I think as long-term play
it can look very good. Hopefully, that gives you some idea. Some
other alternate options if you are thinking of the North West. Manchester is fantastic,
but there are some other areas that can really help add diversity to your portfolio as well.
Any questions, don’t hesitate to ask and hope that video helps. All the best.
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