The North-South divide in the housing market is becoming more prevalent this year, as the more affordable markets are out-performing the top-priced areas across the country. According to the latest House Price Index by Zoopla, the average house prices across the UK are 0.5% higher than they were a year ago, coinciding with buyer demand rising by a massive 20% year-on-year.
The debate of investing North vs South in England is becoming easier and easier to choose, as more affordable areas are out-performing the highest-priced spots around England. Zoopla recently released their House Price Index, that show us the average house prices are 0.5% higher than they were this time last year – with buyer demand rising by an impressive 20% in that time.
As the country and the market recovers, the Manchester property market has been one of the most resilient cities for several years, boasting a 2% property price increase since June last year, which is higher than every other city in England.
Investing in the North of the country has become favourable for almost all investors, due to better affordability, economic improvements, and growing job markets across regional towns and cities. Further research within the Capital shows a rise in the number of landlords selling up in London, as property investment in the north is becoming a more competitive space.
Manchester has been the number one investment hotspot for a number of years, with recent research showing that property investors in the city had achieved 65% growth over the past eight years.
“The city boasts excellent transport links and a diverse economy, with strengths in digital industries, advanced manufacturing, life sciences and financial services. Manchester is also home to leading research institutions and universities which are ideal for providing a skilled workforce. Greater Manchester’s lower cost of living compared to London, along with its vibrant cultural scene and high quality of life, makes it an extremely attractive destination for both professionals and businesses. The region also has an admirable commitment to sustainability and urban development, which are playing an enormous role in driving urban growth.”‘‘’’
Alistair Wells, business expert & owner of Tend Legal.
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