UK Property Investment Hot Spots
Identified By Journalist
The post-recession boom in house prices has prompted Christopher Middleton to write about the best property investment hot spots in the press this week and he put forward some of the best areas of the UK that can provide property investors with decent returns.
According to the Office for National Statistics, UK house prices are officially on the up. Property values rose by 3.1% in the 12 months to June 2013, compared to 2.9% in the year to May 2013.
The Royal Institution of Chartered Surveyors (RICS), say that property prices are rising at their fastest rate since the pre-crash days of 2006.
Peter Bolton-King RICS director explained: “The increase [in property prices] is spreading from London and the South East, but this is the first occasion for a long time that we have recorded increased activity everywhere in the country”.
The upward trend in property prices maybe set to continue into the next year at least, with economists expecting a property price increase of 7% in 2014.
Three factors being credited for the surge in buyer interest are:
- The Government’s Help-To-Buy scheme is attracting thousands of First-Time Buyers.
- The Funding for Lending scheme – allows banks to borrow money more cheaply.
- The Bank of England’s indication that interest rates will remain at record lows for some time.
The prospects for property investment profits are highly favourable for property investors RIGHT NOW!
These are some of the UK property investment hot spots according to Mr Middleton:
4.3% year-on-year price rise reported for Wales. Region previously saw some of the UK’s largest property price falls during the recession.
Region has seen the greatest number of interested buyers since records began in April 1999. Both new stock and new buyers are in plentiful supply, particularly in Worcester.
The area has seen the highest level of interest for 14 years, according to the RICS. Surveyors report that prices are generally rising rather than falling for the first time since January 2012.
According to property website Zoopla, this area was identified as experiencing a sudden, downward dip. Over the past three years an average semi-detached house was just £230,000 (GBP).
33 miles to the south, (35 minutes by train into London) in Gerrards Cross, Buckinghamshire, property values are 60% higher, around £655,000 (GBP).
Mr Middleton thinks that now is the time to invest in this area before the Bedfordshire property market bounces back.
Cambridge estate agents are reported to be pitting property purchasers up against each other.
Ed Mayer of Savills said “Every house we have sold so far this year has gone for the guide price or above, Exactly 50% of sales have sold in competition, too, either in sealed bids or during open rounds of negotiations. The largest offer was 21.53% above guide price.”
The national shortage in the supply of housing will see property prices continue to rise,
so what are you waiting for?
Below are some of the best rental areas in the UK
Tell us where you think the real UK Hot Spots for property investment are…
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