Manchester rated as a top UK regeneration hotspot

Any successful property investor will know that it pays to familiar with the latest property hotspots; as well as up-and-coming areas.

Whether you’re venturing into or growing a buy-to-let portfolio, or simply looking for capital growth, investing in the wrong areas is a thin wire to step on.

Then there’s the consideration that if you are seeking out property management for your portfolio, to ensure your chosen managing agent is even more familiar with that area. Be it knowing where the best rental yields are, through to which areas are up-and-coming and promise future investment.

The key to successfully future-proofing your property strategy is by investing in areas which have long-term plans as early as possible; offering great potential for growth in in property values and excellent rental yields.

Research by broadband and utilities provider, Glide, reveals the top 10 areas where properties offer the potential for a regeneration price growth premium in addition to average values in the local area.

A series of FOI requests made by the company to local councils reveal the number of empty dwellings and commercial properties across the UK.

Collectively, across both categories of building, in the month of September 2019 there were 617,527 empty buildings across the UK.

Of those councils which held the information, Birmingham was revealed as the leading council area for the most potential space, with 8,086 residential properties and 7,622 commercial buildings in the city and its suburbs being empty.

Second is Liverpool, where 15,339 buildings are currently not occupied, while regions across the North dominate the top five, with Manchester, Leeds and Bradford also ranking highly.

Local authority Empty residential properties Empty commercial properties  Total
1 Birmingham City Council 8086 7622 15,708
2 Liverpool City Council 11073 4266 15,339
3 Manchester City Council 10531 4003 14,534
4 Leeds City Council 8331 4528 12,859
5 Bradford Metropolitan Council 2610 7908 10,518
6 Durham County Council 7330 1573 8,903
7 Bristol City Council 6403 1742 8,145
8 Cheshire West and Chester 5860 1897 7,757
9 Sheffield City Council 5063 2610 7,673
10 Cornwall Council 5795 1662 7,457

Liverpool has the highest number of empty residential properties, with 11,073 sitting unoccupied, while the study revealed that there are a total 448,246 empty dwellings in this sector across the country – and that the top five cities account for 10% of the total number of vacant homes.

These figures of high vacant property numbers provide insight into potential for developers to create new spaces and re-purpose existing ones. This allows for a huge number of flats and apartments to be built, whilst also providing the opportunity for high-spec property refurbishments akin to the recent Chimney Pot Park development in Salford.

For more information on identifying key areas for property investment, and the levels of property management guaranteed to make your investment strategy successful, give us a call on 0161 883 2525.

More Posts

Get your FREE Property Valuation

Is your property undervalued? Let’s find out

Thank you

Tracy, who is one of our directors, will be in touch shortly to discuss your valuation.

She has over 20 years of experience managing properties in the Manchester area, so you’ll be in very safe hands.

Your Message Was Sent

One of our advisors will be in touch shortly to discuss your query.

Thanks for subscribing

Don’t forget to check your junk mail and spam filter to ensure you get uninterrupted emails from us.