Investment advisers Sterling Wealth Associates says the north of England is the go-to spot in the UK for property investment.
It says that with the long-term promise of improved transport such as HS2 and recent regeneration programmes in areas such as Birkenhead and Hull, there has been a surge in the arrival of young professionals in the region.
“Cheaper rents and property prices are attracting businesses both local and international to set up hubs in the North which in turn is creating thousands of new career opportunities for young working professionals that are seeking jobs outside of the saturated job market in London” says Sterling.
It continues: “While Greater London and the South East has experienced a surge in both nominal prices and rental rates over the last couple of years, recent reports from RICS, the major lenders and estate agents confirm the ripple effect across the rest of the country is very much in evidence. In fact, London rental growth is being outpaced by several parts of the UK - with the Northern regions leading the way.”
Sterling says that the demand for rental properties has increased since younger generations have historically struggled to step onto the property ladder with house prices continually increasing - despite generally low capital values in the northern region.
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