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London vs. Manchester vs. Edinburgh


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Hi everyone - I am a newbie to BTL property investment - my husband & I currently own our home in London but am looking for opportunities to make our income grow. My husband is an architectural designer and I am an interior architect/designer. We would ideally want to buy up properties to renovate in London in the future when we have more capital although properties in London are probably saturated. We are therefore looking at buying BTL properties elsewhere that do not need work. We were thinking to start with buying something in Manchester as one can get a decent 1-2 bedroom for very little compared to London prices. However, we are slightly worried by the impact of Brexit and am thinking Edinburgh could be a safer choice since they could have another referendum? What are people's thoughts on that and if anyone has experience investing in Edinburgh? Many thanks in advance.

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Hi MTY

 

A further future Scotish referendum would add more uncertainty and could slow down price rises. If you get your timing right you could pick up a barging but you would have to wait.

 

In the meantime prices are rising and you could miss out. I live in Greater Manchester and its a great place to invest in. I invested in my first Manchester property in 2004. Happy to help further if needed (amjedkhan@talktalk.net).

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Hi MTY

 

My opinion is Brexit will have little impact on most domestic property markets in the short to medium term, and I'm yet to be convinced it will have a great impact longer term.  The UK remains a great place to invest for domestic investors and foreign investors and for most areas I don't see that changing even when we've left the EU.  London may be the exception, but that might just be a cooling rather than anything more.

 

Manchester is currently seeing a strong growth, and rental yields are very good here.  Other northern cities are hot in its heels - Liverpool, Leeds and in future Hull.  We're helping investors from the south invest in the Manchester area for this very reason.

 

For Scotland remember there are a number of differences to England and Wales, though the principles are the same.  So do please make sure you understand the market before you jump in.  I know a number of investors in Scotland but haven't invested there myself; others here who'll know it better.

 

As always you need to know what you want from your investment, match that to a strategy and then your area, do your due diligence, and then choose well.

 

Best wishes, André

Andre-Simm.jpg

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Hi MTY,

 

I second what Andre says and would just add emphasis on working out what your short/long term goals and how these look.

Once you have have work back and build a strategy that will you get you there.

Take your time and absorb as much knowledge as you can (Books/Podcasts/Journals)

 

Thanks

 

Greg Ashall

greg_ashall@yahoo.com

 

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