Thinking of upping sticks and relocating to the Northwest? Keen to learn about investment opportunities? Keep reading to find out more.
The Northwest: an area in which many think, The Lake District, affordable housing, and vast amounts of countryside and yes, there is all of that but there is so much more. One minute you are walking through the Forest of Bowland, to then jumping onto international and national transport links – made easy with Manchester Airport on the doorstep as well as plans for HS2 rail services into London. Recent investment such as the £4.8 billion pound levelling up fund to inject capital into regeneration and growth of local areas has helped to quickly get the Northwest firmly on the map.
What does levelling up mean for housing? More demand for premium properties in bustly cosmopolitan centres or tranquil countryside villages. It means good quality, more efficient and safer social housing.
The affordable housing available has often been a noteworthy subject when it comes to both investing as well as moving and living in the Northwest. The average property price in September 2022 was £219,005 according to land registry data compared with £403,515 for the Southeast. For someone looking to relocate, you can greatly improve and gain significant property attributes without necessarily increasing your budget. More space to live and more money to spend on other interests.
Capital resources go a lot further! The Northwest has an average rental yield of 6.7% compared with current average for the UK of 3.63% making it an important and notable place for property investors to expand or begin creating their portfolio, often generating that passive income quicker and easier.