Is it Scotland, Wales or England? Or is it North, South, East or West?
Everyone wants to know where the best place to invest is. If you have done property investment in London recently then it’s highly likely you are feeling pretty chuffed with yourself as the pace of growth in property prices has outstripped the rest of the country. However people investing in other areas of the country should of achieved a bigger discount so the answer is clear as mud.
It’s certainly easy to pick out areas in the UK that you shouldn’t invest in. Areas that haven’t got good commuter links into a major town or city would be a good example and areas with high unemployment or a big reliance on the public sector. This will rule out large chunks of Scotland, Wales and parts of the North East of England but it still leaves a lot of choice for us to invest in.
A better question to ask is, are you investing for the long term or not? As if you are in property investment for the medium to long then what does it matter as property prices end up growing at roughly the same rates.
There is no point in chasing so called property hotspots as if an area is already called a hotspot you have already missed the boat. Instead if you focus on the investment fundamentals things like transport links, employment levels, shops, schools, etc. You will always do well in the long term.
You don’t want to get drawn into hype stick to these principles when you do property investment in the UK and in the medium to long term you will be rewarded.