As an investor, you may be wondering how you can grow your residential property portfolio after the market’s recent performance, and it’s clear to see why.
You’d be hard-pressed to find a more secure market that’s growing at the same rate as UK residential investment property right now. With the rest of the economy currently in flux thanks to several different economic factors, the residential property market in the UK is seeing a huge influx of investment as growth and secondary incomes remain strong.
This is certainly the case with some of the more up-and-coming cities across the UK such as Manchester, Liverpool, Newcastle and Leeds continuing to provide strong investment opportunities, especially in off-plan property. Now feels like a particularly strong time to be investing in the UK buy-to-let market.
With this in mind, here are a few tips to consider when looking to grow your residential property portfolio.
How to grow your residential property portfolio:
Decide on a location
This may be something that feels fairly obvious, but different cities and locations offer different opportunities.
If you’re going for busier urban city centres then, realistically, you’re probably going to want to invest in an apartment that will bring good yields and increase in value over the short and medium term, effectively protecting your wealth.
City centre apartments can have a higher cost of entry but, similarly, capital growth tends to be bigger and quicker, and rental income is higher too.
There are alternatives to this, such as up-and-coming cities like Sunderland, Durham and others across the north, however, because the price of entry is lower, the relative yields tend to be smaller, and the majority of residential investment property tends to be houses and family oriented property.
Think about your financial arrangements
It’s important to think about funding a purchase of further investment property. If you have an existing residential investment property or properties then you may have enough equity in them to release some for your next purchase.
You may need to speak to a financial advisor or mortgage advisor to see if this is possible – we can put you in contact with the right people if you need to.
You’re always going to have a smoother journey to purchase if you’re paying with cash, but there are other solutions available.
Grow your residential property portfolio with yieldit
If you are interested in growing your residential property portfolio then it’s always important to seek the advice of either a financial advisor, mortgage advisor or property expert.
For our part, we have decades of experience in the property industry and several high-quality residential property investments around Manchester and other lucrative cities.
If you’re interested in speaking to us then why not get in touch today?
To keep up to date with all of the latest news in the market, visit our property news page.
