Tenants with a keen eye on the budget, landlords wishing to increase their chances of renting a private property and those wanting to advertise a property online for sale are advised to check out the latest list of the UK’s best value cities.
The list has just been revealed and rates each UK city according to how affordable it is for residents. It found a clear divide between north and south, with the Midlands and northern cities most attractive for prospective tenants and buyers. A total of 60% of homes in the south were out of reach for those earning an average income for the area. In comparison, just 30% of available homes were considered to be overpriced in the north.
The top ten most affordable cities to rent a property privately or buy a private property are: Dudley, Hull, Birmingham, Stoke-on-Trent, Bradford, Derby, Wolverhampton, Manchester, Glasgow and Sunderland.
While UK housing prices in general are accepted to have slumped over the last three years, London house prices have been robust, with no fall in prices between October 2009 and April 2012 according to data from the House Prices Index. Unsurprisingly, this means that property in the capital is less attractive to first time buyers and would be homeowners working within a tight budget, there are huge windows of opportunity springing up around the country for first time buyers.
The most affordable cities list shows that proximity to a capital city doesn’t have to mean compromising on great value. Many of the top 10 best value cities are major international hubs with Birmingham and Manchester offering facilities to rival those of London without the capital city’s larger price tags.
The online estate agent, I Am The Agent has a number of great value properties in many of these great value cities to choose from;
1. Private Property To Buy in Manchester
The 8th best value place to buy or rent in the UK, I Am The Agent has a number of rental options and properties for sale in Manchester. These include several investment opportunities such as the 1 bedroom private halls of residence at Ford Lane, Salford. Fully furnished and with all bills included, the development sits at the edge of Salford University campus and is close to Manchester City Centre. A purpose built halls of residence, the development is managed by I Am The Agent partner, Fresh start Living.
2. Private Property to Buy Derby
The 6th most affordable place in the UK, Derby is conveniently located between Nottinghamshire and Leicestershire. A number of homeowners within 40 miles of the city have used I Am The Agent to advertise a property online in the area, meaning those looking to buy are spoilt for choice. Great value options include a three storey semi-detached house in nearby Coventry, with four double bedrooms, garage and large garden, on sale for £280,000.
3. Private Property to Buy, Bradford
Colonnade House Halls in Bradford is an attractive proposition for investment landlords with an eye for a bargain and a desire for strong rental yields. As the 5th best value location in the UK it’s also attractive to tenants. I Am The Agent’s Colonnade House Halls investment properties offer en-suite, fully furnished, modern student flats for those attending at Bradford University. Conveniently located, the units are affordably priced at £29,950 and fully managed.