The north of England is an increasingly popular place for property investors to consider right now. Generally low property prices mean that yields are usually much better than London and the south east.
While the big northern cities like Manchester, Liverpool, Leeds and Sheffield are better known as northern locations to invest, here are five lesser known places in the north that we think property investors should consider.
Doncaster
In property they say location is everything. And not many places in the north are better connected that Doncaster. As well as being slap bang on the east coast main railway line it’s also slap bang in the middle of the north’s motorway network, making it very attractive for the logistics/distribution sector and the jobs that go with it. It also has its own airport, which has ambitious plans for expansion.
Property prices: Low. The £50,000 investment property is still a reality.
Warrington
A one-time 1960s new town, Warrington’s population has almost doubled to that anticipated to reach around 200,000. The town is a focus for modern industries, including logistics, science and technology with Omega Business Park being one of the largest development sites in the country. The town has enjoyed one of the highest levels of economic growth in the UK in recent years.
Property prices: Above north west average, good value compared to comparable cities in south.
York
The city of York scores highly in most surveys of the best places to live in the UK. It also has a severe shortage of places to build new housing …. which bodes well for those investing here. It has a booming tourist industry (seven million visits annually) and is in the ‘top 20’ most popular cities for foreign tourists visiting the UK.
Property prices: Above Yorkshire average, cheap compared to comparable cities in south.
Preston
Preston is Lancashire’s main regional centre for business and employment, and is very well connected both by motorways and the west coast main line railway. Something that isn’t always appreciated by investors is that it is a major student city – with around 33,000 students UCLan is one of the country’s largest universities. There are also ambitious plans to regenerate the city centre.
Property prices: Low.
Huddersfield
Hudderswhere you might ask. Famed as the birthplace of Harold Wilson and Rugby League, Huddersfield benefits from being right on the M62 transpennine motorway and has particularly good rail links to both Leeds and Manchester. The local economy benefits from its university – popular with students seeking an inexpensive place to live and study – which now has 25,000 students.
Property prices: Low.
