Although London still dominates as the UK’s central business hub, several other locations across the country are gaining popularity with companies – particularly SMEs looking to enjoy better rental rates and reduced associated business costs.
With businesses come workers, and as a result, renting is becoming a more popular option in these places. If you’re keen to rent to the young professional market, here are just a few of the areas you should consider.
Key Buy-to-Let Business Areas in the UK
- Bristol. The South-West’s most serious contender is Bristol – which has a larger than average number of entrepreneurs setting up their business there. As of 2015, the city was home to over 20,000 companies, with close to 150,000 people of working age (with NVQ 4 qualification or above). That’s a lot of people looking for rented accommodation close to where they work!
- Glasgow. This Scottish city is not only a key business district in Scotland, but a major player in the UK as a whole. It’s particularly popular with financial companies, which attract high-flying professionals seeking good quality rented accommodation. The city’s affordable buy-to-let properties for sale mean that it’s relatively easy to generate good rental yield.
- Cambridge. Cambridge already has a solid reputation as a great place for landlords, thanks to its large student population. However, with a sizeable science park, plus several businesses in the area, it’s ideal for investors who want to rent to young professionals. Over 65% of the city’s residents are qualified to NVQ level 4 or higher, and many of them are actively seeking employment (and accommodation) in the area.
- Birmingham. As one of the country’s largest cities, it’s unsurprising that Birmingham should attract so many businesses, not to mention tenants. It’s now an important technological hub, which has brought several new start-ups to the area, and good business growth means that new talent moves to the city on a daily basis. Additionally, Birmingham has been ear-marked for serious rental rate growth, making it an area to keep an eye on.
- Northampton. Northampton enjoys a higher than average rate of business success, with over 60% thriving after their first year as a start-up. Its impressive employment rate also ensures that plenty of workers are living in the region, with many actively seeking rented accommodation. As such, it’s worth exploring the market for available buy-to-let property for sale.
Other Areas to Consider
Of course, many of our cities are ideal for those looking to invest in property in the UK; especially if you’re considering appealing to the young professional market. Leeds, Liverpool and Manchester all offer excellent rental yield at present, thanks to their relatively low house prices (when compared to the national average). Likewise, Reading, Sheffield and Leicester are also pegged for increased rental yields in the future.
The Buy2Let Shop Limited
If you’re not sure where to start looking for buy-to-let property for sale, talk to The Buy2Let Shop. We’re a team of expert property investment agents, and we’ll help you find the right area to buy in, at a price that suits your budget.
To find out more about our range of services, which also include assistance with buying a house at auction, please visit The Buy2Let Shop website today.