Currently, the best location to invest in property in the UK has been proven to be the North West region of England, in research provided by One and Only Pro, the property investment portal. A combination of high demand in rental housing, including a sizeable student population, and affordable property prices have resulted in good rental levels, as well as high yields.
The city of Salford, located in the North West, tops the ranking of Britain’s cheapest cities and towns for buying property, with rents remaining comparatively high. This is according to the study conducted by One and Only Pro, which used its unique AI algorithm to rank the best 172 buy-to-let locations across the UK. Rental properties in Wales and England were allocated a score between one and ten, with homes scoring a ten the most probable to gain in value.
The five areas with the highest scoring properties were all found to be located in the North West region of England. Properties located in Salford were awarded the top score, with examples including a three-bedroom flat with an asking price of £130,000 and a potential yield of 12 per cent, with a predicted rental income of around £1,300 each calendar month.
Second in the ranking was Burnley, with around 20 per cent of the properties demonstrating great investment potential, while Bootle and Birkenhead were tied at third place at 16 per cent. At 12 per cent, Blackpool completed the top five best locations in the UK for buy-to-let investors.
These areas, known as satellite towns, are predicted to rise in popularity in response to their larger city neighbours being comparatively overbought. The research conducted by One and Only Pro focused on properties which are listed as viable for investment, with other unsuitable property groups such as retirement or shared ownership housing excluded from the study.
The CEO at One and Only Pro, Henri Sant-Cassia, stated that although research shows that the North West has the highest number of homes with investment potential, shrewd investors can find great investment properties in almost any location in the UK.
One and Only Pro was created to reveal the hidden gems in property investment, which enables even the most inexperienced investor to locate the best buy-to-let deals in a certain area. Also listed in the study was Swansea, ranking in position 28, and the top location within Wales for property investment.
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