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Northern Powerhouse cities named property investment hotspots

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Manchester, Leeds and Liverpool have been flagged as some of the top global property investment hotspots by IP Global.

Manchester takes top spot in the firm’s quarterly Global Real Estate Outlook.

IP Global note the city has seen house prices rise by 8.6 per cent in the 12 months to October 2017 with rental yields of 5.6 per cent reported at the end of last year.

The large investment into Liverpool has resulted in the city seeing sharp economic growth, according to the firm.

Its average rental yields have hit 6.2 per cent, with house prices jumping 14 per cent over the last three years.

IP notes the massive supply shortfall in Leeds – with 90,000 units needed by 2021, but only 60,000 in the development pipeline – as a big allure to investors.

It adds: “With willing renters and buyers and an economy which, according to Cambridge economics, is well-placed to grow and showing all signs of a strong future, the only element missing is supply.”

Newcastle was also named by IP as an excellent prospect for property investors, noting its economy is being driven by a thriving digital industry. Over the last 13 years, the number of rental properties entering the market in the city has jumped by almost 60 per cent.

IP Global says: “The trend of Northern Powerhouse growth shows no signs of slowing with increased investment in vital services and infrastructure continuing to appeal to individual property investors from all over the world.

“Although more exotic locations such as Bangkok and ‘trendy’ European locations such as Berlin continue to attract investors, it’s the Northern cities of England that are attracting international attention for quality developments at affordable prices with very strong growth trajectories.”

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