06 Feb 2020
Simply Business conveyed the top cities in the UK that attract but-to-let business. Most of the cities mentioned where regional ones.
The top spot was shared between Manchester and London, with each city earning 18% of the landlord votes. Investors were shown to be more inclined to buy property in these areas as buy-to-let investment opportunities.
Birmingham and Liverpool also tied in second place after each scoring 10%.
By the year 2025, Manchester’s population is expected to have grown by 100,000 more resident, which will result in more opportunities of employment. The survey hints that the rental market in the city will thrive.
The UK’s capital city attracted a number of investors after a drop in property prices, and the buildings near major regeneration sites are expected to rise in value in the near future.
The regenerated areas received a massive boost after the bettered transport and infrastructure – that helps to attract not only investors but also families to choose the area as one to live in.
Accessibility to London is also predicted to be facilitated once the Crossrail line is open in 2021. This will further push prices higher for houses close to the Crossrail stations.
There are ongoing plans to help Liverpool become an attractive location for business, as the city continues to develop and grow.
Liverpool’s northern docklands area will soon be worked on and changed, via a Liverpool Waters regeneration scheme of around £5 billion. Other regeneration schemes that are in process will amount to £14 billion.
Moreover, Birmingham is being seen as one that has increased its employment opportunities, highlighted in BT’s new offices that will soon be opened in the city.
The survey suggests that Birmingham will experience a rise in its build-to-rent sector, which is also being eyed by investors.
Information taken from Simply Business’ survey results