How To Choose a Location for an Investment Property
There are a number of factors that help make a city a good proposition for property investment. Those cities that have strong price growth and the best rental yields in the UK all have these 5 things in common:
1. Sustained economic growth – From new infrastructure projects to businesses opening new offices, a thriving economy should be one of the first things you look for when choosing a city to buy a property.
2. A rising population – Economic growth creates more jobs and consequently, more people moving to live in the city. Choosing a city with positive population growth projections will also ensure you don’t buy in a location that’s likely to become oversupplied of property.
3. Low property supply – The best cities for investment have a tangible undersupply of property versus demand from potential buyers and tenants. This ensures you can achieve premium rents and high asking prices.
4. First-class universities – Having prestigious universities and institutions nearby will not only sustain population growth, but a high graduate retention rate of students remaining after their studies have finished will also have long-term economic benefits for the city.
5. Good transport links – Easy access to international airports and major rail and road networks will not only increase a city’s attractiveness as a place to live, but it will also ensure high leisure and business tourism levels, too.