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UK Property Sale
By: Damian Qualter
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1. Take advantage of a buyers' market. With the UK property market slowing down, the current climate brings good news for those looking for investment property for sale. According to Hometrack, agents are seeing the return of a buyers' market with sales being achieved at 94.3% of the asking price.
2. Buy off-plan. Buying investment property for sale off plan can be a great way of getting quick returns on your investment. There are many developers who will offer significant savings on units in new developments purchased before the build is complete. Current examples include The Cube and The Mews developments in Manchester, both marketed through BuyProperty4Less.com. The apartments for sale range in price from £116,450 to £152,150 and are available with a 15% discount for off-plan purchasers. |
3. Look for areas of economic growth and regeneration. In 2008, property forecasters are expecting Scotland to experience the UK’s greatest property price rises due to economic prosperity from high oil prices. The good news for investors is that Scotland is currently one of the most affordable places in the UK with investment property for sale at prices almost one-third less than the national average. With its great transport links and history, Aberdeen is full of potential for investors. Gavin Bain & Co currently holds a wide range of properties in the area from £68,500 to £450,000, including a two-bedroom apartment in Candlemakers Lane for £165,000. Some forecasters also highlight Northern Ireland as a good prospect for property investors. Northern Ireland has been enjoying a period of considerable investment and regeneration and there is a wide range of investment property for sale. Ireland’s property finder, PropertyNews.com, is currently marketing over 800 properties with something to suit all budgets. Among these are several 5-bedroom character properties in the university area of Belfast for around £350,000 each.
4. Areas of high rental accommodation need. Manchester, Liverpool and Leeds are all enjoying a period of regeneration with many new property developments and business investment. All three cities have good transport links and thriving business and university populations with a great need for rental accommodation. In the fashionable Ancoats area of Manchester, the Ellesmere Property Group is offering 17% discounts to off-plan purchasers of apartments in the cutting-edge Ingenta development. Within the development there are 30 properties for sale with gross prices starting at £181,260. In Liverpool, investment property for sale includes a number of trendy one-bedroom warehouse flats in Cornwallis Street L1, marketed from £120,000 to £140,000 on the NorthwoodUK.com website. In Leeds, Your Move is currently listing a five-bedroom terrace for £149,995 in the Holbeck area, which is the latest area of focus for reinvigoration. Prices in this area are expected to see dramatic price increases over the next five years.
5. Go to auction. According to the Sunday Times, "90% of cheap property is sold at auctions". In the current UK property market, houses that are in need of modernisation are being snapped up quicker than those in pristine condition. Due to the growing popularity of auctions there are now companies that will keep you up to date with the latest auctions for a small subscription fee. These include IPDS whose website, auctionpropertyforsale.co.uk, also has handy step-by-step guides to buying investment property for sale through auctions. Several other websites that list auctions can be found on LandlordZone.co.uk.
This summary shows you just a taste of investment property for sale in the UK right now. Using careful research and good timing, there are still some great investments to be found. |