Whether you are making a buy-to-let purchase or buying a home to live in, the property market in the UK is healthier than it has been for a few years. With prices increasing across the board it is more important than ever to get the most for your money, and choosing the right location is essential to this. Of course, there are many different factors that influence decisions related to property purchases and everybody is looking for something different in their ideal property. Whether you are looking to make the biggest return from an investment or are looking to make a choice based on lifestyle considerations, here are some of the best places to buy in the UK.
The poll winner
Officially, the most desirable place to live in the UK is Hart in Hampshire. The district has just come top of the highly regarded Halifax Quality of Life Survey for the third year in a row. The calculations used to deliver this verdict were based on data from the Office for National Statistics and other important factors. Hart, centred on the town of Fleet in the north-east corner of Hampshire, comes top of the list because it has the healthiest residents in the UK. Employment is well above the national average and residents are also wealthier with average earnings at £843 a week. The one downside to deciding to live in the country’s most desirable location is that the average house price is also at the top of the scale.
Britain’s official ‘second city’ is a great choice for those that believe new-build properties are indicators of new property hot spots; highlighting areas of growing employment, improving infrastructure and increasing populations. The central midlands location is an ideal business base for workers and plans for 1,150 homes in a new canal-side district at Icknield Port Loop are just one indicator of the kind of expansion the city is experiencing. With the Eastside area about to benefit from a £6 billion redevelopment scheme, the prospects for both families and buy-to-let landlords look extremely promising.
As the city is now widely acknowledged as an international metropolis on par with New York in terms of scale and diversity, London is an obvious choice for house hunters. This means that there are always new hotspots popping up as older, rundown areas become regenerated or overspill from wealthy districts boost property values in neighbouring areas. London Docklands is a perfect example of the former, with the enormous investment of recent years having transformed the area. The combination of a recovering financial sector in the City nearby and the Olympics legacy of improved infrastructure and transport facilities (such as the Light Railway) mean that both lettings and sales are on the increase.
Elsewhere, the unfashionable south-side of the River Thames has seen a boost from The Shard and now nearby Elephant & Castle is expected to benefit from a £1.5 billion regeneration taking place over the next 10 years. Currently rental flats offer a 5% annual gross yield and the area is becoming popular with families once again.
We asked property expert Michael Liggan who mainly deal with properties in Spain for a third party view on the UK Property Market, he commented
“like much of Europe, there are key places to find fantastic returns in property, carry out your due diligence about the investment and you will likely see a good return.”