If you fancy investing in property or if you are a landlord looking for buy to let property, it may be worth keeping a close eye on these places to buy in the New Year.
The rules have got tighter and the tax breaks of being a property investor are less generous, investing in a buy to let property can still provide good returns.
We’ve asked our experts and taken a good look at some of the best places to snap up buy to let property in the New Year.
The city that jumped out the most was Manchester. As it enjoys an enormous amount of investment, it is known as the crown jewel of the ‘Northern Powerhouse’, all this is only going to boost demand for property, whether it’s to purchase or rent.
Experts have said that smart investors should definitely be looking at Manchester’s demanding rental market, as it stands alongside London as a prime buy to let market in the UK.
Property prices in Leeds are flying high, having jumped 6% in the past year.
As phase two of the HS2 rail project gets underway, Leeds will become an even bigger attraction for property investors. With the city being the fourth largest student population in country, being served by four universities, the demand for student rental properties is extremely high.
The city is also set to see several regeneration projects in the next few years, including a £350 million pound development in the heart of Leeds South Bank, which will potentially create 7,000 new jobs.
Dubbed as the wildcard for 2017, Hull is gaining momentum as one of the upcoming places to invest in. Back in 2005 Hull was named as the worst place to live in the UK.
Big investment in the city from companies like Siemens has helped property prices rise by 2.5%, fortunes are improving and will continue to do so.
According to property experts, Stockport should be top of the list for any property investor. It provides direct rail services into Manchester, Liverpool and Birmingham, the city is set to see significant investment.
With a £42 million pound transport interchange under construction, and £1 million being invested across retail, residential and commercial sectors within the next five years, Stockport is well on the way to establishing itself as a regional business hub.