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As well as news of a yearly £19,000 rise in house prices due to a shortage of homes for sale and a growing economy; average house values in the UK shot up 2.7% in August this year – the highest monthly rise since May 2014.
With property prices in London reaching an extortionate high, investors are beginning to look to other areas of the country to dip into a market that is worth more than £1 trillion. To help, online estate agent HouseSimple has created a new infographic that looks into the country's up-and-coming property hotspots.
The infographic identifies Manchester, Rotherham, Birmingham, Leicester, Hythe and Norwich as top places to invest in property, and breaks down average house prices for each region and house type.
With the average UK home now valued at £204,674, and with house prices rising, buyers could potentially buy cheap in these up-and-coming areas and watch the value of their property grow quickly over time.
HouseSimple's infographic also highlights some future hot-spot identifiers for would-be property investors and buyers, such as:
- Local amenities; lookout for supermarkets, schools and a train line within a five mile radius,
- Low crime rates; perhaps obviously, a low crime rate is crucial for an area to be considered an up-and-coming area
- Transport links; look at areas that are close to expensive postcodes, but still have great public transport links.
London might be considered by some as the hub for everything, but if you're a property developer, there are more far reaching opportunities that exceed the realms of London town.
Distributed by Pressat
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