If you’re thinking of investing in the UK real estate market, you’ll want to keep an eye on the areas that are set to boom over the next few years. These up-and-coming properties areas UK can provide great opportunities for investors, as they have the potential to see significant growth in value over time.
The UK property market is always changing, so predicting which areas to invest in can be challenging. Nevertheless, we can determine favourable prospective markets by considering population growth. Areas with growing populations are likely to experience increased demand for housing, which could lead to increased values.
Also, we consider areas benefiting from major infrastructure projects. These places will likely attract new businesses and investment, which could drive up prices and significant capital appreciation over time. Keep reading to discover some of the up-and-coming areas to buy property UK.
Up and Coming Property Areas UK 2023
1. Slough
Slough is a town about an hour west of London and it’s got a lot of potential for property investors. There are plenty of reasons why Slough is a great choice for investors.
For starters, it’s accessible via the M25 and M4, making it a great location for commuters. It’s also home to several big businesses, including 3M, Microsoft, and Samsung.
Slough is undergoing a lot of redevelopment, with new office blocks and apartments being built all the time in the area. And because it’s still emerging, property prices are relatively low compared to other areas in the UK.
There are different types of property available in Slough, from apartments to townhouses to family homes. So if you’re looking for a property investment with good growth potential, Slough should definitely be on your radar.
Average House Price: £375,117.
Average Rental Yield: 3.7 per cent.
Price Growth in Five Years: 10 per cent.
2. Liverpool
Liverpool was named the third best city in the UK for returns from property investment, following Manchester and London. This is not surprising because Liverpool features many industrial heritages, making it an ideal residential area.
Furthermore, Liverpool is notable for its maritime history, museums, and art. The famous Liverpool FC is established in the city, just like the iconic rock band, The Beatles.
With a thriving population and investment contributing to its development, it is little wonder that Liverpool is drawing in property owners from far and wide. The city’s property demand is strong across the board, including buy-to-let investments, student accommodation, and short-lets.
Nevertheless, securing an excellent investment in Liverpool properties is no walk in the park. Global Residential has a team of experts to guide you through every step. If you are looking to get a new home for yourself in Liverpool or you are a property investor with a strong appetite for robust returns, we got you covered. Read on to learn more on Liverpool project investment and areas that will guarantee a high yield.
Average House Price: £202,342.
Average Rental Yield: 5.48 per cent.
Price Growth in Five Years: 18.9 per cent.
3. Aberdeen
Aberdeen is another great location to watch out for. The Granite City, as it’s affectionately known, is characterised by its granite architecture. It’s a beautiful place with lots of potential for new homebuyers.
Aberdeen has a rich history and a thriving economy mainly because it’s home to a thriving energy industry. Energy is a vital sector of the Scottish economy, and Aberdeen is at the heart of it. Some of the world’s largest oil and gas companies (like Shell and Chevron) have a solid presence in Aberdeen. So it’s easy to see why it has huge potential for growth in the coming years.
With the current slump in the oil industry, you can expect prices to stay low for a while. That’s why property prices in Aberdeen are still relatively low compared to other cities in the UK. And that’s great news for investors. Nevertheless, housing prices have risen by 1.4 per cent since the fourth quarter of 2022. The key here is to get in early before prices start to climb.
Average House Price: £197,738.
Average Rental Yield: 4.46 per cent.
Price Growth in Five Years: 4.6 per cent.
4. Burton
One of the notable things about Burton is its accessibility which is vital in enabling everyone to live as comfortably as possible.
Burton, a market town in the borough of East Staffordshire, England, has an encouraging population of 72,299 which in turn translates to a good property market. Not to mention that it is also a tourist destination due to its popular attractions, including National Memorial and Stapenhill Gardens.
If you are looking for a balance of high yield and capital growth potential, this town offers a high level of potential investments as one of the up-and-coming areas to buy property in the UK.
Average House Price: £204,104.
Average Rental Yield: 8 per cent.
Price Growth in Five Years: 22.3 per cent.
5. Bolton
Bolton, a town in Greater Manchester, is one of the promising up-and-coming areas to buy property in the UK for lots of reasons.
Firstly, it was recorded as the top five and second most popular property hotspots in Greater Manchester, making it an ideal town to get the value for your money.
Bolton is a northern mill town and a busy commercial centre with a wide range of industries. It has a vast and growing cultural setting and is one of the UK’s most vibrant towns.
Bolton’s borough-wide population is around 288,000. It has thrived in recent years and the latest estimates suggest Bolton will have a population of over 300,000 by 2043. That would mean an uplift in the property market in the coming years.
If you’d like to explore exciting property investment opportunities in Bolton with high rental yields, check out our gallery or contact our team for more clarity.
Average House Price: £100,000.
Average Rental Yield: 5.3 per cent.
Price Growth in Five Years: 10 per cent.
6. Reading
Just an hour outside of London, Reading is experiencing a growth spurt that’s making it an attractive destination for property investors. It’s a historic town with many characters.
The local council is pro-business and actively encourages investment. And the transport infrastructure is excellent, with quick access to all major London airports and train stations. The properties in this area are still affordable. So it’s a great investment opportunity.
Reading has a population of over 174,000 people, many of whom are affluent. Reading is a prominent commercial centre, especially for insurance and information technology. The big corporations that have put Reading on the map include Oracle, Vodafone, PwC, Tesco, and KPM. It has even been named the second most prosperous town or city in the UK.
Average House Price: £439,629.
Average Rental Yield: 3.16 per cent.
Price Growth In Five Years: 7.57 per cent.
7. Bracknell
Bracknell is a town in Berkshire, England, with a long history dating back to prehistoric times. The town is popularly known as a post-World War II New Town, and has a broad selection of cafes, shops, and restaurants, as well as many technology companies.
Bracknell is a great location for commuters. The town is well-served by public transport, and with London only a short train ride away, it’s the perfect place to buy property if you want to be close to the city but don’t want to live in it.
The key industries in Bracknell are ICT, business services, and advanced engineering. Areas with a high concentration of technology or ICT businesses can benefit from open-plan living and bedrooms and similar property types suitable for modern working practices.
Average House Price: £376,655.
Average Rental Yield: 5.58 per cent.
Price Growth in Five Years: 2.96 per cent.
8. York
York is one of the best up-and-coming areas for property investment to look out for. It’s one of the most vibrant and trendy cities in the UK, and it’s constantly growing and evolving. There’s a wide range of cultures and communities in York, so homebuyers can easily find a neighbourhood to suit their needs.
Also, York has a rich historical background that attracts thousands of visitors. From the ancient walls of York Castle to the imposing cathedral, there’s a lot of history to be explored in this city.
Most businesses in York are either financial services, creative industries, or business services. The population of Perth is also growing rapidly, so there’s plenty of potential for growth in the years to come.
Average House Price: £314,332.
Average Rental Yield: 7.3 per cent.
Price Growth in Five Years: 35 per cent.
9. Leeds
Leeds is home to some of the country’s top universities, which means there’s always a strong demand for rental properties. The city also has a thriving economy, with plenty of job opportunities available.
Leeds is surrounded by beautiful countryside, which makes it the perfect place to live for people interested in enjoying peace and quiet environs. The types of properties that are popular in Leeds vary from traditional family homes to trendy new apartments and everything in between.
The financial services industry is particularly important to Leeds. A lot of banks and insurance companies have their headquarters in Leeds, and this has led to many high-quality office spaces being built in the city. The demand for housing is high in Leeds because it’s a desirable place to live, with great schools and plenty of cultural attractions.
Average House Price: £260,353.
Average Rental Yield: 3.7 per cent.
Price Growth in Five Years: 18.8 per cent.
10. Derby
Derby is becoming an increasingly popular city for young professionals. There’s great art and culture, good transport links, and plenty of job opportunities. The city has a strong industrial heritage, which reflects in the types of properties that are popular here. If you’re looking for a place unique and quirky, Derby is the place to be. The city has a lot to offer investors, with good returns and growth potential.
With the arrival of the railways in the 19th century, Derby became a centre of the British rail industry. Since then, this industry has encouraged the growth of the manufacturing industry. Today, Derby is home to the world’s second-largest aero-engine manufacturer: Rolls-Royce.
Average House Price: £215,145.
Average Rental Yield: 5.6 per cent.
Price Growth In Five Years: 43 per cent.
11. Peterborough
Peterborough is one of the upcoming property hotspots in the UK, with the amenities of a big city but a more relaxed lifestyle. It’s also home to some top universities, which makes it a great place to invest in student accommodation. Peterborough has a lot to offer its residents, and it has plenty of amenities and opportunities for entertainment and recreation.
The automotive and engineering sectors are very strong in the city, and they’re responsible for most of the jobs here. This means that there’s a lot of demand for housing in these areas, which is great news for property investors.
Average House Price: £231,396.
Average Rental Yield: 4.3 per cent.
Price Growth In Five Years: 97 per cent.
12. Inverness
Inverness is located in the Scottish Highlands, and it’s one of the fastest-growing cities in the UK. This city has a thriving economy, thanks to its strong links with the tech industry.
Inverness is known for its stunning natural surroundings. People looking for a picturesque place to call home will definitely want to check out this city. And because it’s such a desirable place to live, the demand for property is high, which means that prices are likely to keep rising in the years to come.
Over 47,000 people live in Inverness. But the city attracts thousands of visitors from across the world for its natural landscapes, medieval ruins, and prehistoric sites. Inverness County’s unique geography makes it the ideal place for agricultural and agro-based enterprises. Fishing and seafood processing are also prevalent in Inverness. And this industry will only expand as the urban populations and incomes grow.
Average House Price: £217,328.
Average Rental Yield: 6.5 per cent.
Price Growth in Five Years: 11 per cent.
Conclusion
So, whether you’re looking to get on the property ladder early or you’re simply curious about the areas that are set to boom in the next few years, this list should give you a good starting point. Our team are highly focused property investment experts that provide help in delivering exciting capital growth opportunities across the ever-changing residential property market.
With 100+ years of collective experience in the global property markets, We’re well positioned to source the best investment stock. Get in touch with our team to learn more about the areas we recommend.
