North Vs. South – The Pros and Cons of Investing in Different UK Areas

wealthAn extremely important factor for investors to consider when looking at new opportunities is the shifting tide in the property market. With London beginning to stagnate and yield lower results, spouting higher costs to match, it’s easy to see why eyes are beginning to look north of the capital’s admittedly powerful draw.

With this in mind, what are some of the factors that could convince investors to look to Northern areas such as Liverpool and Manchester? And do these factors outweigh the powerful draw that London may still hold? Let’s weigh up some of the positives and negatives of investing in these different cities.

Migrating talent

As London’s property market becomes overcrowded, with rental costs having to drop as a result (thus generating lower rental yields and evidently a decrease in price growth), city-centre population growth is quickly on the rise in the north. A large portion of this increase can be attributed to professionals ‘north-shoring’: moving the business into a more thriving area.

Liverpool’s number of tech companies has skyrocketed in recent years, and the city has been described as a ‘tech-cluster’ with the components for a digital sector to rival London. The Baltic Triangle area is at the forefront of this dynamic shift, home to a variety of different software companies, game development studios, and even schools that work alongside industry partners to give young people an opportunity to aspire, and in turn head the businesses of tomorrow.

Rival city Manchester is very much in the same situation, as London suffers what some are referring to as a ‘living standards exodus’, with tenants able to find much better conditions, closer to their workplace, by relocating. It is no wonder then that many are looking for investment opportunities in this burgeoning area, and investment companies such as RW Invest are offering them. In Manchester, property prices are expected to grow by 22.8 per cent by 2022, as the population increases, and the demand along with it.

Culture & Tourism

Leisure and tourism is certainly worth considering in each area, as it can make an important impact on investment.

With Tottenham and Liverpool facing off against each other in the Champions League this year, both Liverpool and London are directly competitive in regard to football. Tottenham’s new stadium, having opened in April of this year, was a colossal one-billion-pound project that has certainly impressed fans. Liverpool, also with an ambitious project in mind, have plans for a large-scale expansion around their historical Anfield stadium. A project aiming to transform the surrounding grounds from derelict properties into a vibrant hive of shopping centres, it will certainly attract both tourists and tenants wishing to stay nearby.

London being the capital, many would say that It would have the upper hand in terms of tourism, and that would appear to be the case. In terms of fine dining, for example, the capital seems to take the cake. With Liverpool managing to hold on to merely one Michelin star restaurant, and Manchester failing to manage even that, London is already onto its dessert, ahead with a whopping 70 stars.

London is also much farther ahead in terms of its visitor count, with landmarks such as the irreplaceable Buckingham Palace, and it is estimated that at least 13% of those working in London are employed in the tourism sector, generating about £15 million a year.

While Manchester and Liverpool may not have the upper hand when it comes to Michelin star restaurants, however, the thriving independent food scene of these cities is definitely worth celebrating. Perhaps most notably, Liverpool is the birthplace of the independent restaurant chain, Mowgli. More and more eateries are opening up on a regular basis in the north-west, offering a range of eclectic cuisines.

Affordability

Its famous sights and large tourist base may be an attractive draw, but the feasibility of investment in London seems further and further out of reach when looking at the leaps in cost; The average house price estimations speak volumes. According to Zoopla, the average house price in Manchester sits at £192,762, Liverpool at £175,853, and London at a staggering £654,826. London’s high barrier to entry for investors means that it’s market is continuing to meander, whilst the north thrives.

For these reasons, particularly when considering the above point about migrating talent, it would be safe to assume that an investment in London would be risky, and whilst no doubt still a powerful and integral part of the country’s identity, it seems like the northern countries, with their promising abundance of young talent, are worth acknowledging for a lucrative investment opportunity.

Money-Saving Apps to Boost Your Financial Health

Explore Some of the Best Money-Saving Apps to Boost Your Financial Health

Whether you are a consumer or a small business, it is a financially wise decision to save more money. Savings are important to take care of emergencies and unanticipated expenses. If you are consciously and consistently saving money and have created a robust retirement account and a solid emergency fund, you would not need to worry about your future finances. If you save consciously saved throughout your entire life, you could enjoy financial freedom and a lot more opportunities to boost your business.  

The biggest issue is to determine precisely where and when to make the necessary changes that would help in saving substantial money. The best way to make perfect financial decisions is to make the most of all the cutting-edge money savings and other financial apps. Saving money could prove to be quite challenging but automation could be helpful. Here are some financial apps that directly or indirectly help you in saving money.

Chime

Chime is supposed to be an iOS and Android mobile banking app. It actually has a debit card and a spending account where you could easily and safely see transactions almost instantaneously, deposit funds, and even track spending consistently on the go. This effective mobile banking app is known to provide a completely automatic savings account that facilitates saving money. You may set aside 10 percent of your paycheck every month for Chime.

Capital

This is the best financial app for goal-setting. As per Nerd Wallet, “Capital lets you set “rules” to automate savings. For example, every time you spend money, Capital can round the total up to the nearest dollar and move the amount into a goal account insured by the Federal Deposit Insurance Corp.” Or you may alternatively consider contributing a lump sum regularly to your fund.

You would be requiring an outside checking account for linking to Capital and funding your different goals. Remember withdrawal of money would take a maximum of two business days from a Capital account.

Digit

Digit is an effective app that helps you by doing the acting and thinking associated with saving money, on your behalf. Digit may end up doing a better job as compared to you. Moreover, it would help in lifting the pressure from your mind and removing the effort from your shoulders. Digit examines your present income and expenditures. Then it would be calculating the precise amount you have the potentiality to save and accordingly puts that specific amount aside in a Digit account that is FDIC-insured.

The app would be going through and doing this analysis between twice and thrice every week. It helps you in earning the 1% savings bonus which is actually paid once in every 3 months based on actually your average daily balance in your specific Digit account throughout that period.

Debt Eliminator

Debt Eliminator is an important financial app that helps to eliminate your debts. Once you could get rid of your debt, you could save a substantial amount of money every month. Debt Eliminator is supposed to be a customized plan generated by Suze Orman, noted financial guru. Information that is being inputted into this tool actually cannot be saved or stored. The app would provide you with a detailed debt payoff plan.

Debt Eliminator recommends the common debt snowball method for repaying the debts. This is an effective stratagem that involves paying the minimum balances on practically all your debts barring one and diverts all extra money towards that specific single payment. Once that account seems to be fully paid, focus your attention to paying off your next loan and go on doing that until all the debt is effectively eliminated and you are completely debt-free. Visit renowned sites such as National Debt Relief Programs for perfect debt solutions.

Clarity Money

Clarity Money is used for differentiating wasteful spending from wise spending. This is a free app and it clarifies wise spending by canceling all the subscriptions that are not currently used or required by you. The app further examines effective ways of negotiating your bills and bringing them down to considerably lower rates. This amazing money-saving application is known for tracking what you have already spent to make sure that you do not overshoot the budget and that you are very much within the budget.

Moreover, it would be recommending specific credit cards which may complement your lifestyle and cater to your credit needs. It helps you to learn smart ways to use credit. You could set up a savings account with this application as you would require a place for putting all the money that is being saved.

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You Need a Budget

This is an application that assists in creating a budget interface that is easy-to-use and that helps by teaching you about the real value of money. As such, you would soon learn to positively prioritize specific expenses, discover effective ways of saving money for emergencies and retirement, manage unanticipated costs, and even live keeping in mind, all your financial constraints. You could start living within your means instead of using credit.

This software or application would work successfully on both Mac Computer and Windows. It would be active across all mobile devices for Android and iOS, plus Amazon’s Alexa and Apple Watch.

Mint

Mint helps you in paying down your debts and bills timely so that you do not need to pay any late fees or penalties. Mint is a fantastic application for creating an apt budget for ensuring you maximize what all could be done with your money. It helps in allocating money towards your savings, retirement account, and emergency fund while catering to all other financial obligations.

You could examine your credit score free of any cost for monitoring how your good money habits and savings are paying off ultimately and thus, giving you the chance to avail a lower loan rate if you are looking to buy a vehicle or home.

Conclusion

All the above-discussed money-saving apps are extremely helpful in changing your mindset regarding money. You get to learn important lessons about financial wellness that could effectively keep debts at bay.