Property in the UK is used a tool by many for investment and wealth creation.
Many are tempted to turn their hand to being a buy-to-let landlord, if they have the capital.
However, where you invest can affect your profits considerably.
Which are the best UK towns for buy-to-let and buy-to-live investments?
The latest research by lettings platform Howsy, has looked at where in the UK is currently the best place to invest in a home and where is the best location to invest in a buy-to-let, despite touch market conditions.
Howsy looked at where has seen the best house price growth over the last year, where is home to the highest rental yields and where is the best option for a mix of both when investing on your doorstep.
The best buy-to-live locations
Brexit has caused house price growth to stutter across much of the UK but for those looking to invest in their own piece of property, there are still pockets enjoying notable price growth.
North Devon tops the table at 15 per cent growth year on year, followed by Merthyr Tydfil and Blaenau Gwent in Wales, both at 13 per cent, along with a third Welsh option in Caerphilly, up 11 per cent.
Camden is the best bet in London with house prices up 10 per cent in the last year, with West Devon, Forest Heath, Rochdale and Monmouthshire all up nine per cent, and Trafford seeing annual growth of eight per cent.
Where should you invest when it comes to buy-to-let?
The best buy-to-let locations
Glasgow is the best spot for a return at 7.5 per cent, with Scotland also accounting for the next best three in Midlothian (6.8 per cent), East Ayshire (6.8 per cent) and West Dunbartonshire (6.7 per cent).
Burnley and Belfast are home to current yields of 6.5 per cent, while Inverclyde (6.4 per cent), Falkirk (6.3 per cent), the Western Isles (6.2 per cent) and Clackmannanshire (6.1 per cent) complete the top 10.
Founder and CEO of Howsy, Calum Brannan, commented: “The face of the lettings sector has changed quite considerably with the advent of technology-based solutions to traditional problems, and now even the most amateur of buy-to-let landlords can own a home on the other side of the UK and manage their investment efficiently and effectively.
“More accessibility via digital rental platforms now provides landlords with greater empowerment when managing their property portfolio and they can do so anytime, day or night, with greater peace of mind.
“The new age of letting agent not only provides this greater peace of mind but as they tend to operate on a UK-wide scale, they are better placed to deal with the day to day needs of the buy-to-let sector, whether it’s one property at the other end of the country, or a number of properties spread over different regions.
“As a result, landlords are no longer restricted to investing within the local vicinity to keep tabs on their property or forced to pay exuberant fees for an agent to do so, leaving them free to buy in one section of the market and invest in another to maximise their financial gain across the board.”
Best place to invest in property in the UK (rankings by average rental yield increase year on year)
Glasgow City 7.5 per cent
Midlothian 6.8 per cent
East Ayrshire 6.8 per cent
West Dunbartonshire 6.7 per cent
Burnley 6.5 per cent
Belfast 6.5 per cent
Inverclyde 6.4 per cent
Falkirk 6.3 per cent
Western Isles 6.2 per cent
Clackmannanshire 6.1 per cent
Which is the best commuter town to buy property in?
The average cost of new homes across London’s commuter belt is currently £373,967.
This is a further 11.9 per cent more affordable than the cost of buying new in outer London, with buying new in London as a whole costing 29 per cent more than the commuter belt.
Reading offers the best value of the lot with the average new build home still costs just £273,838.
Rushmoor and Crawley also offer the chance of buying a new property within reaching distance of London for under £300k at £295,896 and £298,559 respectively.