In the past, I have often avoided the topic of what is the best area for property investment in the UK. One reason for this is that there are so many good areas, and which area is right for you will depend on your local knowledge and strategy. The other reason was that I didn’t want the areas that I highlighted to become saturated. But so many people have asked me about this topic that I have been persuaded that I need to cover it.
Remember, just because an area is good for certain types of investments, doesn’t mean it is good for all property investments. There will also be good and bad parts of every area. Making a good investment requires getting to know an area in detail. That said, here are the best areas for property investment in 2022.
Newcastle Football Club is the richest club in the world. The city is up and coming; the vibe on the streets of Newcastle is absolutely electric. I really think Newcastle will become a much more ‘on the map’ city in the next decade. Properties are so cheap there right now. It is a great time to get in.
I didn’t like Blackpool as an area for investment until I did my Financial Freedom Challenge there. Before this I was told that Blackpool was really rough, but while I was there I really saw the potential. Houses are cheaper than they were 10 years ago, and the council is spending a lot of money regenerating the area.
One thing to note, however, with Blackpool is the closer to the centre the worse it is. The roughest parts of Blackpool are in the city centre, so look further out. Before buying a property there, go to the area you are buying in at night and see if you are comfortable walking around the area. If you are not, don’t buy.
This is a great spot for serviced accommodation, either buying a property or rent to rent. Many apartments are renting out for £3000-4000 a month as serviced accommodation. The area is really nice and so are the local people. This is a great spot if you are looking to do Rent2SA (Rent to Serviced Accommodation) or indeed, just SA (Serviced Accommodation).
2. The Valleys (Wales)
This is a great area for BRRR (Buy Refurbish Refinance Rent) or flips. You can buy properties for around £50-60k and do them up and push up the value. The south of Wales is particularly good for this. Many of my students are having huge success with this strategy there.
This is where I am investing most myself. This is a great area for development opportunities. Beaconsfield, High Wycombe and even London (which is just outside Buckinghamshire) have recently become good areas for development. This is because of the drop in commercial property prices from the lockdown.
If you would like to see everything that I said about each area, I highly recommend you watch the full video here.
If you need any help with your property investment strategy for 2022, why not come down to the Property Investors Crash Course. Tickets are free and you will have a chance to learn while taking action. You can book your ticket here.