Best areas to invest in England?

[Nusy]

Hi there, Ive been trying to find the best areas outside of London to invest in a property. Ideally I want to buy and sell on with a profit. Where in England are the best places for this. Ive looked at auction properties but have no idea what is safe and what is not. Thanks guys.

[Rezo]

London still the best option at this moment!!!You should reconsider your decision!!!

[Richard Webster]

Auction properties often have something wrong with them - either about their condition or legal matters alerting to them - they are put in an auction in the hope that someone buys without realising the problem!

[Adam Long]

Nusy,

Why do you say outside London, is this because you have a limited amount for deposits and the higher selling prices rule you out ?

I would always say to invest in the nearest area to where you live as you can then remove the need for a letting agent who will take at least 10% of your profits for what can be a very mixed service

You also need to look at your strategy, do you want to invest in new build flats (bad idea, instant negative equity, high service charges etc.) HMO's (high yield but high time input on your part and limited finance available if you declare it as an HMO), council tenants (low entry but potentially tenant problems) or something else ?

You need to put in the time to research areas and not rely on someone else to spoon feed you an answer after all it's your money you will lose if it's bad advice.

You can find selling and rental prices easily enough online and demographics of a population are easy to find as well so invest some time in your own future and put in the work !!!

Good Luck

[Nusy]

Thanks guys for your help.

Yes London is definately the best place but out of my budget and yes, all the auction properties have had dramas attached to them. Things like enforements from the council due to extentions put up with no planning permission. Another had an environmental order due to a flooding that had occurred and caused significant damage to the flat below. Some of them you can not even get into the property for the opportunity to view??!!!

Yes, I will be staying away from new builds too. They are a rip off. Im not sure what HMO means, will google that!

When buying in any area I know that you need to look at things such as rail links, schools, population ect. To me that means cities or places close to these areas. I will probably continue looking in areas outside London. I have been recieving property alerts from a company called Assetz...a bit wary though as they have alot of new builds which im not interested in. The properties are in places like Hull, Wigan, Liverpool ect, some of them have a high yeild. Thanks again.

Nusy

[Randeep]

HMO= House of Multiple occupation. Idea being that letting rooms will make more money than letting the house. But you need to have stronger controls in place to insure things go well.
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I used Assetz for a property in Manchester, and I live in London. (I was attracted by low entry point into the market and good yield/discount on property)

But what I would say is Assetz did try to sell me new builds but I said I wanted an older property (but not too old) so mine was built in 2003. Just tell them you don't want a new build.

They kept selling to me for 2-3 months before I said, yes thats the one I want. Always be picky!! Its your money, not theirs.

But their are negatives with a property far from where you live. One is how do you keep an eye on it? Who do you trust to manage the property? (simple answer is to ask landlords in the area as to who they use)

If you want some help in dealing with assetz, I may be able to help (as they have already made money out of me and may view me as a more serious investor).

Give me a PM if your interested.
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Please note, I can not recommend or not recommend them, its all about the property and sifting through there list and waiting for many weeks to get the one that fits with you.

Also like every city, Manchester has black spots and good spots, so be careful.

Regards,
Randeep