Do you think that UK property investment is only possible if you’ve got lots of cash? Think again! Choose the right location, and you could invest in property with a relatively low amount of money – then start generating good profit for future re-investment.
Most buy-to-let mortgage lenders require around 25% of the property’s value as an initial deposit. With that in mind, here are a few places where you can find plenty of property investment opportunities without breaking the bank.
The Cheapest Places to Find Investment Properties in the UK
The northern city of Middlesbrough is undergoing serious transformation at present, yet house prices remain incredibly affordable. An average property will set you back by about £60,000, which means you’ll only need £15,000 to purchase your first buy-to-let property for sale.
This is another northern location that’s high on the list of cheapest places to invest in – with average properties costing just £46,500. Like other places in the north, it’s likely to increase in value over the next few years, so we recommend getting in quick, or risk missing out.
Liverpool has been completely regenerated in recent years, with areas like the Albert Docks being updated beyond recognition. As such, it’s becoming one of the hottest places to purchase buy-to-let properties for sale, though prices are rising fast. If you want a bargain in this buzzing city, check out the L4 postcode area, where prices are, on average, around £70,000.
Some parts of Wales’ capital are expensive, which isn’t surprising, because it’s such a popular place to invest in, particularly if you’re interested in catering to the student market. However, some locations, such as the CF1 postcode, are amazingly affordable, with average prices being around £57,500.
Another big contender in Wales is Blaenau Gwent, which has average house prices of just £79,000. If you’re happy to invest in just a one-bedroomed flat, you can expect to pay far less than this, making it an appealing location to those on a tight budget.
Burnley in Lancashire is another location to keep an eye on. It’s steadily increasing in popularity, yet you can still buy a two-bedroomed house there for under £80,000.
If your heart is set on finding investment properties in London, then Bexley is a great location to consider. The average house price is just £225,000; which given that the capital’s overall average is now over £500,000, is a real bargain. However, remember that you’ll need to raise a quarter of the property’s value price if you want to use a buy-to-let mortgage, which means an initial investment of at least £57,000.
The Buy2Let Shop
At our free property investment seminars, you’ll get exclusive insider’s information into the best places to invest in property in the UK, plus plenty of useful tips and advice. To find out more about our property seminars in London (and across the country), visit The Buy2Let Shop website today.