Best UK Towns To Buy Auction Properties
Truth be told, you can buy auction properties anywhere in the UK. The property market crisis that hit a few years back was widespread and although most of the market is in recovery now, the consequences are still being felt worldwide. As such, you will still find many locations in the UK where repossessed houses are placed on the market for up 30% of the actual value.
Finding such properties, however, means putting in the work. You have to do your homework. You have to visit all the best-known auctions sites online to get excellent leads on possible properties in which to invest. You also have to know a bit about buying houses at an auction, which means you need to have the financing in hand. After all this, you need to know which locations to invest in; ones that present the highest potential for returns. With that in mind, here are some of the most lucrative towns in the UK where you can find and buy properties at auction.
Burnley has become a prime target for property investors ever since the travel time to and from Manchester was considerably cut down. This has made Burnley an excellent commuter town for those people who work in Manchester but can’t afford to live in it. In Burnley, you can find viable homes up for auction; homes that present amazing potential for returns.
Surprisingly enough, Liverpool has a great number of houses up for auction. For someone looking to make a profitable investment in the property market and transform themselves into a landlord, working your way through Liverpool auction houses could be an excellent idea. The town has some wonderful properties up for auction and a robust renting culture that will ensure you have handsome returns on your investment.
Although London presents one of the best property investment opportunities for anyone who can afford it, this beautiful city does not hold such lucrative fortunes for landlords. According to an HSBC survey, although house prices in some of the most sought after parts of London such as Kensington and Chelsea rose by about 19%, the capital growth on rental property just did not match that growth.
As such, most landlords are struggling to make ends meet and even falling short on their payment obligations. As such, there are quite a few houses up for auction. The best advice would be to buy these houses for flipping or living purposes.
Other lucrative towns in the UK that present perfect investment opportunities include:
- St Leonards on Sea
They all represent strong working and commuter towns that offer more than stellar yields on investment. You are, however, encouraged to do your homework and to work with a trustworthy auction house as well as a knowledgeable estate agent. The estate agent will give you a good insight on why the houses in many of these neighbourhoods are up for auction and help you avoid some of the riskiest investment opportunities.