If you’re looking to buy a new property in the UK, it’s worth doing your research. The unsettled UK property market can be a challenge to navigate but with a little extra time and effort, property investment can be a lucrative opportunity. A recent Compare the Market study has looked in detail at the 20 easiest places in the UK to buy property. They have taken several factors into account to provide a comprehensive look at where’s easiest to buy UK property. They have looked at the average days spent on the market, how many properties there are per 100,000 people, how many estate agents per capita there are, and the number of years owned by the current owner.
The time a property spends on the market is a big factor in figuring out where is the best place to buy. Canterbury topped the list, and this popular city in Kent had properties only on the market for 28 days. Coventry was another city with a quick turnaround of 35 days, the same as Peterborough. These southern cities with a close commute to London remain in high demand, however their relatively high average house prices reflect this too.
The price of properties is another important factor when deciding where to purchase UK property. They found the UK national average house price was £292,893 which is a useful indicator on how much value for money you are getting. The cheapest on the list of 20 was Bradford with a startling average house price of £131, 038, less than half the UK average. Close behind is Sunderland in the North East which has an average house price of £140,550. Next is Liverpool which has an average of £165,592. Canterbury, which was number one on the list has a much higher average price of £311,154, due in part to its proximity to London. However, it is still less than half the average London property price.
Time owned by the current owner
The time that houses are owned for also has an impact on how easy it is to sell. The figures range from Manchester, where the average is 2.2 years to Coventry which is 12.5 years. A high turnover of owners suggests that it’s easier to sell, with a lot of activity in the market.
By taking these factors into account, investors can find a property that is perfect for them. If it’s value for money, cities like Bradford and Liverpool offer the lowest asking prices. It could be a short-term investment, where easy selling is important. If that’s the case, cities like Canterbury, with a short time on the market and Manchester with the shortest ownership amount would be good choices.
For buy to let properties, RW Invest has a range of lucrative investment opportunities across the UK. Their expert client care team and a streamlined buying process make buying property anywhere in the UK an easy and profitable process. With properties in several of the top 20 easiest cities, there is an abundance of opportunity for potential investors.
The complete list from Compare the Market in order is as follows –
- Canterbury (28 days, £311.154)
- Bristol (51 days, £311,003)
- Southampton (40 days, £280,128)
- Manchester (77 days, £185,583)
- Nottingham (74 days), £194,099)
- York (63 days, £274,153)
- Glasgow (56 days, £170,811)
- Newcastle (96 days, £200,907)
- Bradford (63 days, £131,036)
- Portsmouth (67 days, £223,910)
- Sheffield (71 days, £187,362)
- Liverpool (108 days, £165,592)
- Peterborough (35 days, £215,690)
- Derby (69 days, £196,350)
- Sunderland (70 days, £140,550)
- Coventry (35 days, £203,911)
- Leicester (79 days, £215,530)
- Edinburgh (53 days, £262,922)
- Birmingham (80 days, £191,095)
- Leeds (80 days, £198,622).
Where is The Easiest Place to Buy a House in the UK?