Do you live in a property hotspot? The future top ten is revealed
Experts have revealed the ten most likely locations in the UK to be property hotspots over the next decade, with a multitude of benefits for buyers – but what about sellers?
Financial publication This Is Money has consulted online estate agent HouseSimple, which has listed the following in its set-to-boom locations: Manchester (central), Rotherham in south Yorkshire, Birmingham (Harborne area), Leicester, Hythe in Kent, Norwich, Hove, Ipswich, Ilkley in Bradford and Woking. This mix of cities and commuter towns all vary hugely in house prices.
“With property prices in London reaching an extortionate high, investors are beginning to look to other areas of the country to dip into,” a HouseSimple spokesman told This Is Money. “The average UK home [is] 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.”
However, while this is potentially good news for property buyers, it brings worries for some sellers. In the areas in question, buyers are likely to rush to buy properties that are in demand already due to quality – so a vendor struggling to sell their less-than-perfect home may not hold much attraction for buyers wanting to live somewhere up-and-coming, with smart local amenities.
Plus, for sellers outside these predicted hotspots, the outlook remains uncertain. As buyers flock to promising areas, it is likely to be challenging for vendors wanting a quick sale due to circumstances or because their house has been on the market for a long time already.
Do you need quick buyers for your home because you’re in a hurry to sell? Just ask National Homebuyers for advice, as we guarantee to buy any home. Call 08000 443 911 or request a call back to find out how much you could get for your property.
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