Contrary to predictions, property prices in the UK are still climbing, with some areas performing particularly well. This month, average house prices rose to £300,169, over £10,000 higher than this time last year.
Here’s some more information.
East England a Strong Performer
People investing in property in the UK have had their eye on the East of England for a long time, as it continues to be sought-after by buyers and tenants alike. Recent figures show that the area still remains popular, with prices surging in certain locations. In Luton, average property prices have risen by 10.1%, in Thurrock, they’re up by 11% and in Southend-on-Sea, property prices have increased by 14.7%.
Despite last year’s economic and political uncertainties, buyers seem undeterred, and there have been more purchases than usual for this time of year.
Investment Properties in London – What’s Happening?
In the South-East, the notable exception to the rule is the City of London, particularly Central London, where prices have gone down in many locations. In December 2016, prices were 20.2% lower than the previous year, which is a significant drop.
However, this might be the chance that UK property investors have been waiting for. For a long time, Central London has been unaffordable. Now that prices have started to decrease, there are more property investment opportunities in the capital, which could offer great capital growth in the future. Experts advise that it’s definitely worthwhile to keep an eye on investment properties in London.
New Towns and Commuter-Belt Areas
New towns, such as Milton Keynes, Telford and Corby, are also performing well at present, with property prices rising swiftly – which has ignited investor interest in these areas. Over 30 years, Milton Keynes is the UK’s highest performing new town, with prices rising 601% during that time.
Likewise, towns within London’s commuter belt are gaining popularity, particularly those that are due to be connected on the Crossrail line.
Where Should You Invest?
If you’re interested in investing in property in the UK, it’s imperative to talk to an expert first. By working with a property investment agent, you’ll gain invaluable insight into the current property market, and find out where the current property hotspots are.
Likewise, attending property seminars is a good idea, and it’s also wise to read as many relevant publications as possible, to ensure your knowledge of the market is as strong as possible. Sometimes, it can also help to chat to landlords, to get the lowdown on which areas are performing strongest.
The Buy2Let Shop Limited
If you’re looking for buy-to-let property for sale, but aren’t sure where to start searching, talk to The Buy2Let Shop. Our team of professional property investment agents are here to assist with all aspects of your search – from identifying the right area to securing the property at a price that suits.
We also offer assistance with buying a house at auction, and each month, we host a free property investment seminar in London, designed to provide inside knowledge about the property market. To find out more, simply visit The Buy2Let Shop website today.