A new study from AI-powered property investment portal One and Only Pro has revealed the top ten seaside towns for property investment in England and Wales.
Blackpool took the top spot in the league table with 14% of properties found to have ‘diamond’ investment status by the portal’s unique algorithm. The average property here costs just £74,392.
In second place with an average property price tag of £187,912 was Hastings, with 3.2% of diamond properties, followed by Paignton with 2% and an average £109,806 property price. Weston-super-Mare (1.6%) and Southend-on-Sea (1.3%) took fourth and fifth place, both offering a sound investment with an average diamond property price of £197,985 and £199,441 respectively.
The analysis – which ranked towns based on the percentage of diamond properties on the market in June 2019 – also showed the properties most likely to increase in value and demonstrated/highlighted the potential yields they could achieve.
“Many commentators and predictions have recently identified the North of England as a top property investment hotspot, with good potential capital growth,” Henri Sant Cassia, chief executive officer at One and Only Pro, commented.
“Even in Whitby, which has no diamond properties, investors can still earn a yield of 6% if they can get to the top 10 investment properties, which the One and Only Pro platform helps investors to find.”
He continued: “Other commentators and data take yield averages over all properties in a town, whereas we take the average from only the top 10. The danger in analysing all properties in an area is that they may skew average yields and create the wrong perception of an area, signalling that it may not be suitable as an investment.”
One and Only Pro predicts which properties are most likely to see the highest yields and capital growth, using mathematical analysis to provide investors, lenders and mortgage brokers with an easy-to-understand scoring system – allowing them to identify the best deals on the market.
The website features thousands of available properties which users can compare and contrast using a range of innovative AI-powered features, including capital appreciation, potential scores and rental yields.
It already hosts over 210,000 opportunities, almost 9,000 of which are below market value, with almost 25,000 listings yielding higher than 7%.