Need a property with potential to appreciate in value? Check out the top investment hotspots in the UK for 2017
Buying a home never feels simple and straightforward. With so much to consider when making what is likely to be the largest purchase of your life, selecting a location can feel daunting. Naturally, many factors affect a decision to buy in a certain location – but most investors want to know that their property will appreciate in value – at least a little. For those keen to buy in an up and coming area with great potential to grow in price and appeal, we’ve compiled the latest list of rapidly growing investment hotspots in the UK to help you to make a savvy selection with ease.
Once a thriving hub of industrial activity, Manchester is now a cosmopolitan city classed as one of the UK’s most vibrant and culturally diverse conurbations. Thanks to significant investment in the city centre and surrounding areas over the past decade, Manchester’s liveability and popularity has risen – with trendy, hipster areas emerging such as Chorlton and Northern Quarter alongside upmarket Didsbury and Leftbank. Demand remains high, but supply is low – making new developments in Manchester a desirable and savvy investment choice for buyers who want to see their property prices rise year on year after purchase.
Until recently, Hull was low on lists of areas with thriving developments and savvy investments. Then last year, the government named the North of England as an economic priority – channeling new life (and fresh funds) into the area. As a result of renewed commercial interest in the area (Siemens’ new factory promises to create jobs with a £310m factory) the residential market is set to improve considerably – making now the best time to purchase at a low price before growth continues to rise steeply.
Leeds has it all – and has long been recognised as a Northern city with massive potential. Recent political developments (and resulting investments) arising from HS2 and several huge refurbishment and redevelopment projects have put Leeds firmly on the map for discerning investors. With several key players (including Pegasus and PWC) making Leeds their base in the North, things can only improve for the city financially and economically.
Nestled snugly against desirable Surrey, Hart in Hampshire has been named as the one to watch – with a host of great state schools and easy access to London on offer for buyers. Larger properties with generous gardens are available for a much lower price than those in neighbouring areas, whilst Hart’s bustling high street offers quirky coffee shops and independent boutiques to browse on the weekend. It was also named not once, but three times as the UK’s most desirable place to live.
Gravesend may seem like an unlikely prospect for investors – but it is in fact firmly on their radar thanks to the imminent development of Paramount’s £2 billion theme park between the town and neighbouring Dartford, which promises to raise property prices and increase jobs. Homes in the area also enjoy close links to London and Paris thanks to its geographical proximity to transport networks. The quaint historic town is comprised of a charming jumble of narrow streets leading down to the Thames – so it’s also a picturesque area to frequent for buyers and tenants alike.
Unlike some of the other hotspots on this list, Norwich has a fantastic track record for economic growth in the property sector – with house prices rising 6% during the past year. The forecast continues to predict positive conditions for buyers, with a whopping 22.3% growth forecast for 2017. Norwich’s historic charm and strong infrastructure go some way to explaining its status as one of the UK’s most savvy investment locations, with a fantastic mix of independent boutiques, markets and high street stores complemented by cobbled streets and the city’s iconic cathedral.
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