If you currently live abroad but are planning to move to the UK to invest in property, then it is an exciting time. The property market in the UK certainly represents a good investment with the early part of 2018 showing a significant growth compared to last year. Of course, there are many things to think about when moving to the UK to invest in property.
From making sure that you have all your documents in order to making sure that you have the money in pounds to invest, there are many things to consider. One major factor to think about is just where you will invest your money within the UK.
Best places in the UK to invest in property
It is a big enough undertaking to move to the UK, but investing in property here adds another factor into the mix. Choosing the right place to find property is essential in ensuring that you make an investment that will pay off.
Here are some of the best places currently:
- Liverpool – one of the major UK cities is Liverpool in the North West. A vibrant place with a long cultural history and a world-class university, it is a great place to invest in property because of the large number of people that live there and due to the need for student properties.
- Glasgow – moving into Scotland, Glasgow is a city on the up. This makes it very attractive for property investment as the market looks set to continue to rise for the foreseeable future. Indeed, since 2016, house prices in the city have risen by 0.7% per month! Rental yields are also very good here, with the average being around 6%. The big reason though is the continued programme of regeneration that the city is undergoing, which is making it a very popular place to live.
- Milton Keynes – one place to watch is the wonderful city of Milton Keynes. Situated close to major UK hubs such as Cambridge, Oxford, Birmingham and London, it has become popular with young professionals looking to rent or buy with an easy commute to work. Average prices here are lower at the moment than in its more illustrious neighbours, but they are expected to rise soon with development in the area, which makes it a great place to invest in.
- Manchester – along with Liverpool, this Northern city is one of the fastest growing. With many investors growing tired of the inflated prices in London, Manchester has seen much investment and regeneration in recent years. This makes it one of the most popular and trendy places to live in this region of the UK and makes it ideal for investing in the property market.
- Birmingham – this city is based in the centre of England and has long been a hotspot for property investment in the country. This trend looks set to continue into the future, and as such the city is a solid place to put your money. Many major businesses within the UK are housed here, which creates great demand for rental and owned properties from the workers they bring with them.
How can you get into UK property investment?
Moving from abroad to the UK and investing in property can seem a daunting prospect. Identifying the best place to find property in is key, but what else can help you succeed?
The best thing to do first is find help either from family or friends who know the UK property market or professional firms who specialise in UK property investment. It is also worth learning as much as you can about the UK market so that you can use this information to your advantage. From the various taxes that may be applicable to how the transaction of property works, it is always worth getting ahead of the game.
Once you have got this information, you should never stop learning! There is always more to learn in property investment and development, which will help you achieve success. A great idea is to learn from experienced property investors who have more expertise than you. Adnan Imam is Managing Director of the respected IPE Group and is someone from whom new property investors in the UK could learn.
Location is key for UK property investment
When thinking of moving to the UK to invest in property, you need to know which parts of the country represent the best places to put your money. While the UK housing market is generally stable and strong, certain areas will naturally give better returns than others. The places listed above are the best that there are currently and will certainly help you make a solid investment when moving to the UK.