Investment Hot Spots in Glasgow05 Jun 2017
Where’s hot right now?
The buy to let investment is strong right now…. Investors are taking advantage of the high yields you can get in Glasgow coupled with a strong resale market. With a buoyant stock of tenants looking for property we see steady yields of 6,7,8 % plus and if you are happy to look in slightly less prestigious areas, yields of 10% plus are fairly easy to come by!
For the lower risk investor….
Areas close to the city centre remain ever popular with professionals and student tenants alike, making them a good steady investment. St Georges Cross, Cowcaddens, Townhead, Drygate – any 1, 2 or 3 bedroom properties generally make a good buy with 1 bed costing around £80-90k, generating rents of £550-600pcm. Yields of around 8% and great for resale, the chance of a bit of capital appreciation. A good steady long term investment with low-risk type tenant. Easy! But they are popular and can be tricky to secure at a reasonable price as there are lots of investors out there thinking the same thing!
Dennistoun is traditionally a great buy to let area but the market is very competitive there at the moment so yields are falling a bit- most properties are achieving sale prices over home report values so you need to be careful about not getting carried away! With good 1 beds getting around £110k, and rent of £600pm, you can see the yield starting to fall a bit.
Slightly more risky…(but still pretty steady and less capital outlay!)
Head over to Ibrox, Cessnock areas, G51 is a good bet to increase your yield and with low prices, you might decide this is a good option. 1-bed tenements over this side are available for between £50-65k dependent on condition and rents around £425-500pcm. A yield of 9%… These rent well, great transport links into town and regeneration area with the New Media Quarter on your doorstep… Some communal areas need money spent so watch these areas, if the stair is really bad, no one will want to stay there. Other stairs have been refurbished and are in good condition.
Want the highest yielders?
Head over to Bridgeton, Dalmarnock, Parkhead – property here is cheap! Perhaps that tells a story but if the property is in good condition and communal areas are OK, tenants are still looking in these areas. Yes, rents are lower but so are property prices. 1 and 2 beds are available for between £40-£65k and rent for around £425-550pcm, yielding easily over 10% in most cases. Slightly riskier and the resale market can be tougher but the monthly income can be great. But beware, there can certainly be more issues with voids and in some cases, rental payments on the whole in these areas. Other times it can be a winning investment!