Have you ever considered investing in property by the seaside? Well a study from One and Only Pro, which is a property investment portal powered by AI, suggests that you take a serious look at this.
The study looked at the top ten seaside locations in England and Wales to see which locations are the best for property investment. The results may come as a surprise to you as there are some locations that you probably wouldn’t have considered. So which seaside location do you think offers the best opportunity to make the best return on property investment?
Blackpool was Number One
The One and Only Pro website uses a special algorithm to determine the status of a particular location as far as property investment is concerned. The top properties are classified “diamond investments” and in Blackpool they found that 14% of the properties there were in this category.
The average cost of a property in Blackpool is only £74,392 which is a lot lower than the national UK average. Given that Blackpool is one of the most visited seaside towns in England there are plenty of opportunities for returns with a good property here. If you have never considered Blackpool before maybe you need to consider it.
Other Diamond Investment Seaside Locations
The study showed that Hastings was in second place with around 3.2% diamond investment opportunities. The average price of a property in Hastings is £187,912 and this is another popular seaside location especially with its rich history.
Third was Paignton in Devon with a £109,806 average property price and 2% diamond investment opportunities. This was followed by Weston-super-Mare with a 1.6% diamond status and an average property price of £197,985 and fourth was Southend-on-Sea with a diamond status of 1.3% and an average property price of £199,441.
Value Increases and Potential Yields
The One and Only Pro study not only ranked towns in England and Wales based on the percentage of diamond property opportunities as of June 2019, but it also shows the estimated increase in value of properties as well as potential yields achievable with the properties.
The CEO of One and Only Pro, Henri Sant Cassia, stated that many experts identified the North of England to be a real hotspot for property investment. It offered the best opportunity for capital growth.
He went on to say that in locations such as Whitby where there are no diamond investment properties identified it was still possible to obtain a yield of 6% if you invest in one of the top 10 properties there.
The way that One and Only Pro analyses properties is different from others in the industry. They only look at the top 10 properties for the average figures whereas others will create an average from all properties in the area. When you take all properties into account, there is a high likelihood that there can be a skew which does not paint an accurate picture.
One and Only Pro provides useful Intel
We found that the One and Only Pro website was useful for finding properties that are likely to produce the best yields. The scoring system is simple but effective and it could be a good tool to use to identify opportunities. Always do your own due diligence and don’t just rely on what any website or other source tells you.