Top UK regeneration hotspots unveiled
When it comes to investing in property, it pays to know about the latest property hotspots and up-and-coming areas whether you are buying-to-let or simply looking for capital growth.
Buying at the early stages of a long-term plan offers good potential for an increase in property values and solid rental returns. So where potentially are the best spots to invest for the long-term?
Research by Glide, broadband and utilities provider , has identified 10 areas where properties offer the potential for a regeneration price growth premium in addition to average values in the local area.
The company made a series of FOI requests to local councils in order to find the number of empty dwellings and commercial properties across the UK.
Collectively, across both categories of building, in the month of September 2019 there were 617,527 empty buildings across the UK.
Of those councils which held the information, Birmingham was revealed as the leading council area for the most potential space, with 8,086 residential properties and 7,622 commercial buildings in the city and its suburbs being empty.
Second is Liverpool, where 15,339 buildings are currently not occupied, while regions across the North dominate the top five, with Manchester, Leeds and Bradford also ranking highly.
Empty residential properties
Empty commercial properties
Birmingham City Council
Liverpool City Council
Manchester City Council
Leeds City Council
Bradford Metropolitan Council
Durham County Council
Bristol City Council
Cheshire West and Chester
Sheffield City Council
Liverpool has the highest number of empty residential properties, with 11,073 sitting unoccupied, while the study revealed that there are a total 448,246 empty dwellings in this sector across the country – and that the top five cities account for 10% of the total number of vacant homes.
Jason Lloyd, head of residential at Glide, said: “The research has revealed the high number of empty properties and businesses across the UK, particularly across some of the major northern Council areas.
“But whilst it is troubling to see so much wasted residential and commercial space, it does represent a clear opportunity for developers, and hopefully this study will help prospective investors pinpoint where there is the most potential for growth.”