As many people already know, the property market can be very volatile. While property is considered an extremely sound and stable long term investment, the UK property market has had its fair share of ups and downs over recent years.
We have all seen the developing of the property bubble over the past couple of decades, where prices soared and homeowners found themselves looking at huge amounts of equity as a result. However, during the days of the global credit crunch, we also saw that property bubble burst with a resounding bang. While some areas in the UK are still struggling to claw their way back from those years, there are other parts of the UK that have become real property hotspots. These are areas in which the property market is flourishing and blooming.
There are a number of reasons why UK property hotspots may be so popular, and these reasons can vary. Whether you are looking to purchase a new home for yourself and your family or whether you are looking to snap up an investment property, it is well worth finding out where some of the key UK property hotspots are and the reasons behind their property market success. Of course, property sales and the property market in general have all received a boost as a result of factors such as rock bottom interest rates coupled with a variety of government schemes designed to give the property market a boost. However, properties in some areas are doing far better than others.
Amongst the reasons why some of these areas have become property hotspots are:
Some areas have the benefit of enjoying multiple benefits that have helped to make them into one of the UK’s property hotspots.
There are a number of areas across the UK that have become known as property hotspots over the past few years, and these have generated a lot of interest from both home buyers and property investors. Some of the areas include:
This is an area that has a lot going for it. Its location, just 25 miles from central London, means that it is very popular with commuters. In addition, you can reach two of the UK’s main airports, Gatwick and Heathrow, with ease from here. Over recent years, the area has also gone through a lot of regeneration with the creation of new homes, offices and shops.
Its London location means that this area has always enjoyed quite a healthy property market amongst those that cannot afford to live in the heart of London but want to be able to benefit from easy access. However, this popularity has been boosted as a result of regeneration that has already been taking place and will continue over the coming few years.
Over recent years, thousands of jobs have been created in this area and hundreds of millions of pounds have been invested. New constructions in the area over the past few years have also helped to ensure that the property market here receives a further boost.
With its convenient location close to Folkestone, which is only a few miles away, this is a very popular commuter destination. Over recent years, a number of stylish new apartments have been constructed on the waterfront too, which has helped to further boost the property market here.
This area has been a property hotspot for years thanks to the university and its reputation. Over recent years, the area has been attracting a rising number of research and software companies and coupled with the area’s high level of education, this is helping to seal its place as a UK property hotspot.
England’s second city is a sprawling metropolis with everything from stylish apartments to some of Europe’s best shopping facilities. Over the past few years there her been a lot of redevelopment, including the construction of some beautiful apartment complexes and this has helped to make the area more desirable for those looking to buy a property or invest in property.
When buying a property or making a property investment, you naturally want to ensure that you look for an up and coming area or an area that has already been established as a UK property hotspot. However, you also need to do your research into the area even if you know that it is a property hotspot. It is important to look at a number of factors in order to make it easier to make an informed decision with regards to where to purchase or invest. Some of the things that you need to look at include:
All of these are factors that will make it easier to decide which area you should be looking to purchase property in. Of course, you also need to make sure you select the right type of property for your needs, so this is something else that you will need to take into consideration. However, no matter what sort of property you are looking for, purchasing in a property hotspot can prove hugely beneficial.