Views on UK Property ex London. Particularly Manchester and Sheffield

Martin77

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Hi. Without discussing an individual development, what's your view on investing in domestic real estate outside London, in for example Sheffield or Manchester?

These cities seem to offer reasonable if unspectacular yields. Both are part of the "Northern Powerhouse" initiative. I also recently saw a mortgages offered under 3% fixed for 10 years for 40% deposit. So if these could be combined it might well pay off. Especially if the world is heading for a Japan type scenario of near 0% rates forever.

Has the hike in capital gains killed the market?
Has the hike in stamp duty killed the market?

This would be a long term buy and hold for yield.

Thoughts?
 
Mate of mine has been renting in Sheffield for the past 5 years and is now looking to buy. Prices have remained fairly static there, but huge student population so nearly guaranteed rental income but not sure how things work for the summer months, could your yield survive on a 9 month basis?
His reason for buying now is that he had hoped to return to Ireland but that now looks unlikely.
 
Would be nervous about a significant commitment in sterling zone this side of the Brexit vote if you are in euro zone... I suppose long term situation should recover from any short to medium term hit to sterling in the event of a vote to leave.
 
Hi. Without discussing an individual development, what's your view on investing in domestic real estate outside London, in for example Sheffield or Manchester?

These cities seem to offer reasonable if unspectacular yields. Both are part of the "Northern Powerhouse" initiative. I also recently saw a mortgages offered under 3% fixed for 10 years for 40% deposit. So if these could be combined it might well pay off. Especially if the world is heading for a Japan type scenario of near 0% rates forever.

Has the hike in capital gains killed the market?
Has the hike in stamp duty killed the market?

This would be a long term buy and hold for yield.

Thoughts?


the wages in the north of england are a good bit lower than in this country on average , would you not be better buying in one of the regional cities in ireland instead , limerick city is still 30% cheaper than cork or galway and more than half the price of dublin
 
would you not be better buying in one of the regional cities in ireland instead , limerick city is still 30% cheaper than cork or galway

Perhaps but achievable rents are a lot lower in Limerick. Judging by the latest Daft report, yields are higher in both Cork and Galway.
 
Perhaps but achievable rents are a lot lower in Limerick. Judging by the latest Daft report, yields are higher in both Cork and Galway.

rents are indeed lower in limerick but i am surprised to hear yield is lower , huge purchase price difference
 
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