Insurance News Archive

'Leeds and Newcastle good for property investment'

Leeds and Newcastle are ripe for investors hoping to purchase property in the UK, an expert has said.

Paul Collins, property editor at website BuyAssociation, advised property investors to consider "the actual make-up of the city itself" when deciding on their investment location.

"A city that has lots of building going on and has lots of apartments on the market isn't going to be the best place for a buy-to-let investment, because when people have a lot of choice it drives prices down," he explained.

According to propertyinvesting.net, Leeds is the UK's second financial centre after London and the city also has a large university population.

Mr Collins said that although Leeds has seen "a lot of building", demand for property remains high.

Newcastle, was also noted by the property expert as somewhere "coming up very quickly".

The city's council recently announced that it would be investing in creation of affordable housing in the west end of the city.

31 Mar 2008