As we approach 2022, many of you across the UK will be looking for ways to ensure your investments provide the best possible returns.
Whether that’s adding to your existing portfolio or becoming a landlord for the very first time, property, is still regarded by many as one of the smartest ways to invest.
The rental market is booming with many landlords considering getting in on the action, the question is where should they Invest?
Towns and cities in the north of England, have for years dominated lists of places landlords can achieve the greatest ROI’s. Nottinghamshire and Yorkshire have consistently performed particularly well.
When considering a place to invest you must think about what you want to achieve, is it capital growth or yield? Both are achievable, providing you buy in the right area.
Worksop is a busy market town with many differing suburbs and an increasing amount of people choosing to rent. Whilst we have seen an increase in house prices and an influx of investors, there are still many opportunities to achieve on average of 6% with some properties achieving 9-10% dependant on area.
Local knowledge is key to buying at the right price and in the right area. It is very important to keep a close eye on demand and market conditions and by working with a local agent you can benefit from their experience and knowledge, ensuring you achieve your investment goals.
Worksop itself has a population of approximately 50,000 people, has excellent links to the A1 and M1 which is predominately why many well-known businesses have chosen to build their head offices, production and distribution centres here, all within walking distance of some of the most popular rental areas.
There is also a surge in the redevelopment of old buildings into quality apartments with an increasing number of developers working collaboratively between public and private sectors to support the regeneration of the Town.
It is very important to assess and analyse important categories, such as average house prices, monthly rental costs, yields, capital growth, vacancies and percentage of the towns population that rents.
So in short, should I invest in Worksop? Absolutely….