Property Success Stories
Property Success Stories!
Carefully investing your money in property can bring big returns. Are you thinking of renovating a house in an up-and-coming area or joining forces with a developer building new apartment blocks? Get it right, and the rewards can be considerable.
This week, we’re taking a look at some success stories. From investing in a property hotspot just before it takes off to finding an all-important gap in the market, these stories show how you can win big when you get it just right.
Finding a property hotspot
Investing in a property hotspot can help you get ahead of the market. If you buy a property or a piece of land when prices are low, rising values can see you make money on your investment before any work has been done. In cities like Liverpool, Manchester, Leeds and Nottingham, prices are rising by an average of 4% per year. This means that just sitting on a property for twelve months will see your profits begin to grow.
Newbuilds in particular offer developers a fantastic opportunity to enjoy excellent returns. In 2019, 203,900 were sold in the UK. The average cost of each property was £283,253. In Manchester, where 7,080 were completed last year, the average sale price was £205,237, while the average cost of a newbuild in England was £302,642.
The best way to identify a property hotspot, and find an opportunity in a prime, up-and-coming location, is to work with an experienced partner. A trusted property partner, like Agile, will have done their research and should know exactly where the best opportunities can be found.
While newbuilds offer good opportunities for large scale developments, all opportunities in property hotspots can be potentially lucrative. The Government recently announced it was easing planning rules for city centre redevelopments. In towns where demand is exceeding supply, this could present developers with some fantastic opportunities.
Identifying a gap in the market
Another way for property development projects to be successful is for developers to identify a gap in the market. Recently, a number of developers and investors have seen excellent returns after putting their money in student accommodation.
Over the last few years, the number of privately built and owned student rooms has skyrocketed. Around 20,000 students now live in homes built by private developers. One company made an incredible £2.2m in rental income in 2016 alone, and many estimate the market is worth tens of billions.
Opportunities like this are fairly rare. The best way to take full advantage is to be ready to invest. As soon as a gap opens up in the market, be ready. Working with a trusted partner like Agile Property Partners, will boost your chances of being in the right place, at the right time.
Find out more about Norwich and Norfolk property success stories, and learn how we can help you achieve your property investment goals, by contacting Richard or Wayne today.