Location Location Location!
Which ones are going to do better out of Covid?
Given recent news that Continental Europeans have gone back to work quicker than we have in the UK: with 84% of office staff back at their desks in France, 76% in Spain, yet 37% in the UK, some city-centres are suffering more than others.
As an overall observation many of the Continental city sizes do not mirror those of the UK. In France, Paris has just over 2 million inhabitants and its second city Marseille c. 900,00. Whereas London has a population of 10m and Birmingham 2.5m.
Whilst the ‘Stay at Home’ message in the UK is now proving difficult to overturn, there are nevertheless challenges with highly-populated cities. Sheffield has 18% city workers back in the office, Manchester has 15%, Birmingham 14% and Leeds and London have 13%.
Some of these regional UK cities are also proving to be rental hotspots. Central postcodes in Cities like Bradford and Liverpool offer average yields close to 10%, whereas the suburbs in places like London can still work for rentals, like Enfield or Croydon.
It’s time to think about the location of your investment particularly for expats who might want to invest ahead of the SDLT holiday ending at the end of March 2020 and the 2% overseas buyers SDLT surcharge coming into force in April 2020.
If you would like help finding the right buy-to-let properties for you then please get in contact.
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