The North of the UK has always offered more house for your money than much of the South, but with new focus being given to boosting the country's economy, there is a lot of investment and big business going into cities that have previously lost out to the lure of London.
If you’re looking for a strong student buy-to-let investment, you could do well to invest in one of the following cities before the prices inevitably go up.
Manchester is the centre of the Northern Powerhouse. In recent years, huge efforts have been made to make Manchester a cultural and business hub for the North of the UK. The BBC have have set up shop in nearby Salford, and the government are working to tempt more large companies towards the city.
With three nationally ranked universities and a student population of over 90,000, the demand for student rental accommodation is reliable and always growing. The average house price is £135,000, which LendInvest suggest could offer a 6.2% yield.
Sheffield is a city on the rise. Having been affected greatly by the closure of the steel works in the 1980s, Sheffield was given a new lease of life with the government's Millennium Project.
Now a major hot spot for musicians and artists, there is a true culture of independence and celebration of the unique. The city boasts two major universities with around 60,000 students spread throughout the city centre and its offshoots. An average house price of £165,000 has led some experts to suggest S1 is the most rewarding buy-to-let area in the country.
The demand for student rentals is high and reliable. With many areas of the city falling under the overall average house price, good yields are almost guaranteed.
It was recently suggested that Sunderland is the single best place to invest in student buy-to-let accommodation.
With the average house price as low as £90,000, experts predict an annual yield of up to 6.9%. However, with only around 15,000 students at Sunderland Uni, demand is not as predictable as other, larger cities.
The North East of the UK is enjoying a lot of attention from developers and the government, hoping to reverse the fortunes of an area that, for many years, was forgotten by the rest of the nation. There is good potential for an investment today to really come good in a decade or so.
House prices in Leeds have risen by 6% in the past year, but the average house price is still only £150,000.
Leeds is a thriving, cultural city with 4 major universities and the 4th biggest population in the UK. The city continues to grow with a £350 million development planned for Leeds South Bank, promising to create more that 7,000 new jobs.
Leeds is also a planned destination for the upcoming HS2 railway, meaning that demand for houses is going to skyrocket in the next few years. But if you act quickly, there is still a bargain to be had on buy-to-let student accommodation in the city.
Investors, both from the UK and overseas, are beginning to wake up to the substantial promise offered by the North of England, and that goes for all kinds of residential and commercial property. But when it comes to student accommodation, this is where the North really shines. Some of the UK’s top universities are based in northern cities, meaning demand for rental homes is always high. There has never been a better time to invest in the North, so now’s a great time to consider your options.