2023 Guide: Best Place to Invest in Property in the UK
Property Investments in the North East of England
The best place to invest in property UK property is the North East of England. With cheap house prices and a wealth of character is a hot spot for property investors. The North East is full of beautiful landscapes, historic attractions, and radiates modern culture. The North East of England is effortlessly reachable with several airports around the region, including Newcastle International Airport.
Because of the high rental yields and low property prices, the North East is a favourite for property investors. For landlords vast amounts of opportunities in buy-to-let properties are available, and the market is not quieting down anytime soon. NEPI are the top property investment company in the north east, offering fully managed buy-to-let investments.
North East Property Investment (NEPI) identifies the best places to invest in property in the north east of England in the following article.
The North East Rental Market
The average rental void period for the UK (mortgagestratergy.co.uk, 2021) is 19.5 days. The North East has significantly lower voids at an average of 16 days. Having a proactive letting/managing agent to fill empty properties and collect rent from existing tenants, on time, is paramount. A good managing agent is the heartbeat of any property investment. It wouldn’t matter if you have a central London property or a one-bedroomed flat in Newcastle. If the rent isn't being collected the result is the same. Good and bad tenants exist regardless of geographical location. The fundamental key to any successful property portfolio is how the properties are managed.
Within the Tyne and Wear region sits the city of Sunderland, historically known for being the world’s biggest shipbuilding centre; in more recent times, Sunderland is the UK’s biggest car manufacturing base. With great transport links, Sunderland is popular with commuters and those who travel around the north east region of the UK. Known for great employment rates due to its industrial city, Sunderland also has a rising reputation for its museums, galleries, theatres, and growing arts scene.
Sunderland is the first one of the best places to invest in property in 2023. Landlords should strongly consider the beautiful city for students, workers, and family tenants alike. The University of Sunderland has an estimated 200,00 students and has recently expanded with a new medical school within its portfolio. The city is full of employment opportunities, and with transport links for easy access to areas around Sunderland, it makes a great hub to rent.
Average house prices are around £121,212 as reported by the HM Land Registry in May 2020, which is a 5.8% increase from the year before. This gives a good indication that prices may continue to rise as the city becomes more popular, so now is the right time to invest with NEPI.
Gateshead has a wealth of attractions for local people and tourists alike. This makes it the perfect place for a family to rent. The Angel of the North, Gateshead Millennium Bridge, and Sage Gateshead are three of the world-class attractions in the large town based in Tyne and Wear. Along with this, Gateshead is a vibrant and cost-effective location for property investors. The town has seen vast economic restructure within the last three decades and has moved away from its reliance on heavy industry. Now, Gateshead is creating a diversified economy based on high-tech manufacturing and knowledge-intensive services.
Along with this, Gateshead is known for the low house prices in comparison to the towns around the area. Making Gateshead one of the north east’s best places to invest in property in 2023.
NEPI are the leading property investment company in the North East of England. Contact us today to find out more about the best place to invest in property in the UK.
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