Traditionally the South is seen as the best location for property investment. Will the new HS2 see the tide turn in favour of the North?
Finally, there is a real probability that HS2 will inject life into the whole of the north of the country and it’s property market. The much-used phrase “Northern Powerhouse” has an air of reality, rather than just being used as election propaganda.
It is predicted that 70% of the jobs created by HS2 will be outside London, giving a boost to property markets along the route. This would include Nottingham, Derby and the East Midlands.
Recently, we have been finding that more and more people are looking to invest in the north of England, as a precursor to this, versus a more traditional area such as London. The North of England has seen the highest growing yields in the UK, year on year, being 2% higher than the countrywide average. If we look at a city such as Manchester, we can see that buy-to-let properties have achieved an average of 6.02% in the 5 years to date, outperforming all of its southern counterparts.
Is this the beginning of a long term trend? Or is it just a case of the North of England finally catching up with the South?
For those looking to invest in the UK property market, the North may be an increasingly better option…