Why invest in Birmingham?
(Average property price: £234,989)
First up we’ve got Birmingham. This city has catapulted right to the top of our 2023 property hotspot list. And for good reason too. One of the biggest advantages Birmingham holds is its affordability. House prices here are so much more accessible than across the wider UK – according to Zoopla you can snag a terraced property for £212,919, and flats are going for an average of £144,250**. The city has started attracting and retaining skilled workers that have the income to spend in this rapidly growing city and it’s definitely one for investors to keep a keen eye on.
Why invest in Manchester?
(Average property price: £239,954)
For locals, Manchester is the best city in the world; for everyone else, it's just a brilliant place to live. It’s a northern powerhouse of a place, and investors have already spotted the opportunity here. Terraced houses go for an average of £196,605 and flats have an average asking price of £171,223. It’s an exciting place to put your money as the city continues to grow rapidly both in terms of economy and population. Of course, the city centre is a safe bet but you’ll also want to keep your eyes on the outer suburbs of Manchester which offer some hidden gems for investors who are willing to think outside of the box. Now is a great time to look further afield at places like Stockport, Wigan and Bolton.
Why invest in Leeds?
(Average property price: £253,847)
Leeds. Another northern powerhouse. This city has already been recognised by investors as a playground of opportunity. Terraced houses here go for an average of £198,689 and flats for £153,896. It’s a university city with a buzzy atmosphere and fantastic job opportunities. In addition, there are billions of additional pounds being injected into the city – including investment in a HS2 station. According to Seven Capital, 73% of the households*** in Leeds are currently renting, which means plenty of opportunity for buy-to-let investors. Certainly a city to add to your list if you’re in property for the long game.
Why invest in Glasgow?
(Average property price: £209,251)
While Glasgow has often been overshadowed by Edinburgh, Scotland’s second city is starting to emerge. Sale prices and rents are expected to rise over the next few years and compared to the rest of the UK prices are still fairly low. It has been on our city-to-watch list for a few years now, and we believe the explosive capital growth phase here is still yet to come.
Why invest in Liverpool?
(Average property price: £199,554)
Liverpool is a safe bet for those of you looking for the best place to invest in property 2023. Some of the rental yields here are insane! Some of Liverpool’s neighbourhoods offer fantastic bang for your buck. The average cost of a terraced property here is £148,590, whilst flats will set you back a very reasonable £146,087. If you think about where Manchester is now, we believe there’s still plenty of growth to come from Liverpool. Watch this space.
Firstly, don’t take our words as hard facts. These are the places where we’d put our money in 2023 based on research and our local knowledge. It’s worth remembering that these might not be the perfect places for you to invest – especially if you’re a newbie to buy-to-let or live far from these locations. If you’re serious about your landlord journey or you have your eye on a property, you’ll want to know what you could potentially rent it out for. That starts with a quick and easy valuation…