Where to Invest in UK Property in 2023?

Posted by The Landsite on 17th January 2023 -

Throughout 2022, the demand for rental property skyrocketed and boosted property investment prospects.   The second half of 2022 saw increased government and economic volatility prompting nervousness amongst real estate investors which in turn saw an ‘exodus’ of landlords from the buy-to-let market. 

Reports of a ‘significant’ fall in house prices this year is being driven by inflation and soaring interest rates brought on by the cost-of-living crisis.  However, despite this predicted drop, approximately 50% of property investors are still considering property investment purchases in 2023.

We have listed 5 of the top cities worth considering:

Manchester

Greater Manchester's real estate market is booming and shows no signs of slowing down.  This region has long been recognised as one of the best places in the UK to invest in real estate.  Projected by Manchester City Council, Greater Manchester alone will surpass 635,000 by 2025 with an extra 100,000 people expected to be living in the city centre.

London

London remains as a global leader in terms of property investment prospects.

The demand from overseas investors as well as UK based property developers remains high.  The London property market is matched by a proven track record of delivering strong and sustainable returns with new-build developments valued at approximately £300M.

Glasgow

Glasgow has the second highest tenant demand in the UK and is an economically popular city for buy-to-let property investors.  Rent has steadily increased by 38.3% over the past nine years and is now looking to grow at a steady average rental growth of 4.2% up to 2026.

Liverpool

A high rental demand has generated a house price boom over the past two years.  Liverpool has witnessed a surge in popularity through numerous major redevelopment projects and developments.  One of the largest regeneration projects in Europe is Liverpool Waters with an estimated value of £5.5Billion. 

Birmingham

A mainstay in the UK, Birmingham remains one of the UK’s best places to invest in.  Birmingham is forecasting price rises of 24.5% by 2026.  Growth can be put down to the massive regeneration projects in particular, the Big City Plan , set to revolutionise and improve the city centre over the next 20 years through mixed-use developments and public spaces.

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TLS Insights magazine - Your #1 source for real estate trends, data and insight December / January 2023