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Investors advised to 'consider city make-up'

Written by Jim Barnaby

Wednesday, 09 April 2008

Investing in property in locations undergoing extensive building work is not always wise for those looking at their new property as a buy-to-let investment, one property expert has said.
Recent regeneration projects in some areas of the country have seen locations flooded with new apartments and other properties, with the property editor of BuyAssociation suggesting wannabe buy-to-let investors look elsewhere to spend their money.
"A city that has lots of building going on and has lots of apartments on the market isn't going to be the best place for a buy-to-let investment because when people have a lot of choice it drives prices down," said Paul Collins from the impartial advice site.
Mr Collins offered that the buy-to-let investor should look to cities - "the main focus of buy-to-let investment - where demand for rental accommodation outstrips availability as here the demand can work in the owner's favour.
"You need to look at cities where there is a shortage of rental property - Leeds is a really good example of that. There has actually been quite a lot of building going on but there is still more and more people looking for places there," Mr Collins said.
Leeds is one of a number of cities in northern England that has experienced lots of building work to regenerate the city extensively, as has cross-Pennine neighbour Manchester.
In fact, PropertyInvesting.net notes that the city is the UK's second financial centre after London and, buoyed by a substantial university population, buy-to-let investments in Manchester would seem sound.
Mr Collins encouraged potential buy-to-let investors to consider the make-up of a city in this regard before deciding whether to invest money in a property to let. Rather than making assumptions, by contemplating the amount of building work going on in comparison to demand for property, investors can glean whether places are good to invest in or otherwise.
A further example the property expert offers as being in the same category as Leeds is Newcastle. Again, a northern city looking to increase housing availability and opportunities, the city council earlier this month announced plans for a 138-house development, 30 per cent of which will be affordable housing.
Mr Collins recognises potential in the Newcastle market for buy-to-let investors, offering that the city has been "coming up very quickly" recently, and suggesting that - like Leeds - Newcastle could be an example where the demand for property outstrips current supply, to the benefit of the buy-to-let investor.
In today's world Property investment is an excellent investment option especially investment in UK

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About The Author:

Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property

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