If you’re an investor looking for the best region to invest in properties, you’ll never go wrong with choosing the north-east of England. The north-east is the perfect place for bargain property investments as the average price for a house in the region is just £125,650. This is significantly cheaper than the average house price across England, which is around £251,233. As an investor, the region’s low property prices are something worth taking advantage of with high rental yields and extremely high chances of rising property prices in the future.
What makes the region a great place for investors? It’s simple when you look at the map. The north-east covers the area of Tyne and Wear, Teesside, County Durham, Northumberland, as well as the area of the former county of Cleveland. It can be considered a small region based on its geographical extent, GDP, and population. Nevertheless, it has approximately 2.6 million recorded residents, which means that it has a substantial property market. Another positive indicator of the north-east’s continuous development is that essential activities such as productivity, jobs, income and investment have increased over the years. Knowledge-based businesses are on the rise, and the number of technology start-ups in the region is significantly high compared to its size.
Newcastle upon Tyneside has made a name for itself for being one of the remarkably cheapest major cities in England for property investment. According to the most recent estimates, the average price in this city is at £129,700. If you dig a little deeper and do your research, you’ll be able to buy houses and flats in this region much lower than this. A Chronicle Live report even shows that across County Durham, you may only need to spend as little as £17,000. This still holds despite the recent increase in house prices in the UK. In April 2019, the average home costing is at £229,000 with a 1.4% increase.
Amid the attractive price tags for buyers, the region has a high demand for properties to rent. In fact, it’s an active sector of the UK’s buy to let market because of its hidden gems and affordable housing. Moreover, a Telegraph report recognises it as one of the best regions in the UK for buy to let investors—perfect for investors looking for the best return on their £25,000 investment.
As an investor, you have to study your choices carefully and ensure that the money you invest will yield higher returns. Putting your money into regions with massive potential such as the north-east is a smart way to take the first step on the housing market. The region presents interesting properties, good locations and, most importantly, low property prices that you can take advantage of. Are you looking for a high yielding property in the North East? ReadyLet understands that every investor has different goals and reasons for wanting to invest. Their friendly team will be happy to understand your goals and talk to you about what they can offer. Contact them today!