A Reminder of Kirstie and Phils Where Best to Invest in the UK

If you’re not a football enthusiast you may have caught Location Location Location’s Kirstie and Phil’s Where Best to Invest (in the UK) on Channel Four last night. With property prices in the UK still on the rise albeit a bit slower than previously, you may benefit from a quick run down of last night’s top ten with a classic Nubricks.com new development twist.

10 – Manchester – Once a city in decline, Manchester has reversed its fortunes and is now portrayed as probably the most happening city in the North. Docklands style regeneration of areas such as Canal Street and Salford Quays as well as large scale city redevelopment projects in line with the XVII Manchester Commonwealth Games held in 2002. 

9 – Leeds – Again city centre refurbishment on a massive scale has lead to the lonely planet guide referring to Leeds as the Knightsbridge of the North. Kirstie and Phil note that whilst Leeds has had £2.5 billion invested in property development with a further £4.9 billion of projects under way, this may be a cause for a concern with potential oversupply.
8- Bristol – Noted as being one of the UK’s major centres for financial services, which employ around 40,000 people in the city, the city has plans for ₤152 million of cultural infrstrucure ie Museums, Concert venues etc for 2008. Kirtsy and Phil tip Bedminister as an up and coming area with developments such as Barratt Homes Malago Place and the eagerly awaited Airpoint development which took 100 off plan reservations during its launch weekend on April 22nd. Prices start at ₤115,000 and the first apartments are set to complete Spring 2007.

7– Belfast – Purported to be the 2nd most popular city in the UK for short breaks, Belfast is now experiencing extensive redevelopment as a result of the Belfast/Good Friday Agreement. Victoria Square is currently the site for a huge retail development and Titanic Quarter is a massive mixed-use regeneration project. Phase 1 has been given the green light and work is set to start next month on the Queen’s Island site. The project expects to employ over 20,000 people over the next 15 years and is one of the largest waterfront developments in Europe costing over ₤1.5bn. Commercial and Residential schemes are set to launch immiently with Abercorn Basin apartments taking registration now.   
6 – Reading – Along the M4 high technology corridor, and having just been promoted to the premiership, Reading is starting to make a name for itself. Major firms like Vodafone, Oracle and Microsoft are bringing affluent young IT professionals to the city. The waterfront Oracle shopping complex has transformed the centre and continued investment is still attracting young buyers to the area.
5 – Southampton – With its rich maritime history the city’s seafront used to be the main artery of the city. 1 in 10 of the student population is based in Southampton and a huge student demographic creates a strong demand for rental property. Major schemes such as Ocean Village, a mixed use waterfront development has spawned a number of new property development areas such as West Quay 3 and Northern Above Bar.
4 – Brighton – Presented by the media as a young hip city, this is understandable as it has only recently been granted city status. A seaside resort, it is an easy commute to London. The city has some of the best property investor demographics with plenty of students and a large gay community with DINKY (double income no kids yet) couples enjoying high disposable incomes creating affluent areas.
3 – Edinburgh – Having visited Edinburgh myself I can testify to the fact that the city has much appeal. A historic setting, the city is well known for its public events such as Hogmanay and the Edinburgh festival. Low unemployment is a result of it being the 5th largest financial centre in Europe and home to the Scottish Parliament which has meant many professionals have been lured into the city. Another strong student population supports a wide and varied nightlife. As a result there are many ‘aspirational’ new developments being marketed to popular demand. Professionals should check out Western Harbour whilst newly launched Newington Grange is the perfect country/city pad. 
2 – Cambridge – Usually on most tourists ‘to visit’ list, this city is on the rise being touted as the UK’s silicon valley with a range of high tech start ups making it home. Again London commuters and a more salubrious set of students are the mainstay of the property rental market here. The most noteworthy project currently taking place is CB1 which is a redevelopment of the Cambridge Station Road area and will include hotels, bars and restaurants as well as a central transport node. There are plans to turn the nearby Spiller Flour Mill near the rail station into a historical resource and cultural centre. 
1 – Oxford – Topping Kirstie and Phil’s list of Where Best to Invest, Oxford is one of the UK’s best known cities having educated no fewer than 25 British prime ministers. It too has a growing high tech industry making their base in Oxford’s many science and business parks. However the city is best known for its housing some 40,000 of the best student minds in the country. Add into the mix a growing market of young families making Oxford their base and you have the perfect mix of potential property punters whether you have a buy-to-let or are buying to sell. Jericho is a particularly trendy part of town offering a good mix of lively bars and restaurants which has lead to the area attracting those new build development eyes. Oxford Waterfront will be a mix of 2, 3 and 4 bedroom apartments – all the townhouses from Berkley Homes first phase, Jericho Landing have sold out. There are even plans to create a whole new city quarter, Oxford West End, a perfect base for prime real estate.Oxford combines the right mix of people needed to build a successful property, according to Kirstie and Phil, the 6 golden rules of finding a good property location are:
1. A strong local economy
2. A university
3. Good bars, food and retail outlets
4. A restricted supply of property
5. Planning Permissions
6. Projected increase in younger population

An interesting observation made was that New Build flats made up just 17% of the market in 1999 this rose to 45% in 2005. Apartment complexes are not only a more European style of living but are also a reflection of our changing property needs. Developers are continuing to take this on board creating contemporary living spaces which are increasingly designed to suit our busy lives.