Where should I buy property in the UK?

Manchester City Centre

All eyes are on Manchester as the city records a healthy rise in property values.

The UK continues to draw attention as a safe haven. Providing a bolthole for investors to park their money, pick the right property and location and you will soon be reaping the rewards. Plus there is no better time than now to invest as the sterling remains weak.

As the capital city and one of the leading powerhouses in Europe, London is often earmarked as the place to buy property. But this is all about to change. For February of this year London values rose 5.6 percent if compared to the same month in 2016. Manchester on the other hand topped the charts at 8.8 percent. Well ahead of the national average of 6.4 percent. Additionally Manchester’s average home costs GBP 151,800, a third of London’s average property price.  

Manchester is a thriving city located in northwest England. It played a vital role during the industrial revolution thanks to its textile industry. Today, it is a buzzing metropolis rich in culture. Considered to be a scaled down version of London, it has a long string of attractions including buzzing nightlife, a performing arts scene, endless restaurants plus a wealth of shopping opportunities. 

The rankings are dominated by University cities. Manchester has three universities. Portsmouth sitting in second position with 8.1 percent followed by Bristol at 8 percent have both have buoyant student populations. With unprecedented numbers attending further education in the UK, this puts an extra strain on housing. Buying student accommodation is another lucrative investment asset. Glasgow, Birmingham and Leicester all have growth values between 7.2 and 7.7 percent.

Investors should take heed of these figures and continue to look further afield. Despite concerns of economic uncertainties due to Brexit, the property market in the UK is robust. There is an acute housing shortage that helps to tip the supply and demand mechanism ensuring that values maintain growth.