Most sought after locations in development right now!
In the fast paced ever changing landscape of property development, here at Acre invest we are constantly on the lookout for the most desirable locations in the country to set our sights on. This raises the question though, what makes a location sought after? And where should we be setting our sights in 2020?
One of the first things to consider when looking at a location is connections to already established amenities and the accessibility of them, a great example of this is Greater Manchester. The outskirts of cities like Manchester benefit from what is known as the “ripple effect”. When the population, income, and infrastructure of a city increases, the desirability of these areas “ripples” out to the surrounding areas. This happened from London outwards to the home counties and the same is expected of Greater Manchester, so keep an eye out for Bolton, Stockport and Wythenshawe to be high on the list of desirable locations in 2020!
Liverpool also benefits from this “ripple effect”, and although much of its city centre has seen regeneration over the past few years, its property prices haven’t recovered like other cities in similar positions, meaning that you can still buy in at a relatively low price point in comparison to a similar property in another area of the country. Liverpool in its own right has so much to offer, a hotbed of culture and a thriving music scene, many flock to the city for the weekend and bank holiday getaways, making it a prime location for short term rental and BnB style business.
Leeds has remained fairly low on the “hot property” market after the 2008 crash, as many investors thought that there was an oversupply of housing and so steered clear. This may have been true 10 years ago, but having seen a huge growth in population (faster than any other city other than Manchester) the demand is massive! Developers, and more significantly, prices, haven’t caught up to match. Making Leeds and outer Leeds an incredible opportunity to get in on the ground of some brilliant inner city development. Bradford, Hudderfeild and Wakefield all stand as open opportunities for eager developers in this area.
The north in general, really is an incredible investment opportunity, with prices still relatively low, especially in comparison to their southern counterparts, whilst still providing good reliable rental yields and capital growth.