Property hotspots for 2016 from online agent Makeurmove
Posted 13 January 2016 by Helen Christie
Online estate agent Makeurmove has surveyed beyond the mainstream locations, and your WhatHouse? team has put together a list of new builds available in some of the property hotspots for 2016.
Damian Ainsley from Makeurmove comments, “The property market, much like the stock market, is all about getting in early. The most money is made through purchasing early, often on rumour or potential, but underpinned by facts.”
It is not just Manchester city centre or the £1bn development at Salford Quays – home of the BBC – that is basking from the economic glow. Many of the suburbs of Manchester are benefiting too, and none more so than Eccles – one of only a handful - with its own train station and Metrolink tram stop, which means access to city centre in a meandering 22 minutes and Liverpool city centre in 55 minutes by train.
Over the last 12 months, Eccles has seen an 11% increase in sold prices, over double that of Manchester as a whole. Currently the average property is accessible for under £150,000, which represents great opportunity for first-time buyers or investors looking for medium to long-term capital growth, whilst delivering above average rental yields.
• Best for: First-time buyers and capital growth or income investors
Check out new homes for sale in Manchester
Norwood Green, Greater London
Norwood Green in the London Borough of Ealing has seen a 21% increase in sold prices over the past year, matching the combined increases seen in Greenwich, Hackney and Limehouse.
Aside from the easy 12 minute train journey from nearby Southall train station to London Paddington for working professionals, Norwood Green is just a stone’s throw from the National Trust’s Osterley Park & House, Airlinks Golf Club and six miles to London Heathrow Airport.
The real attraction is the further potential growth due to the proposed £10bn Park Royal City Old Oak Common regeneration project, due to create 55,000 new jobs and incorporate the new super hub station - High Speed 2, Crossrail and London Overground stations - providing access to Canary Wharf in 20 minutes and Birmingham in under an hour.
With average prices currently at £350,000 here, expect to pay close to twice that figure by 2020.
• Best for: working professionals and capital growth investors
Check out new homes for sale in Ealing, Greater London
Although Chatham in north Kent (one-time home of Charles Dickens) has shown the lowest growth in property prices, at 7% over the last year, it does portray a much more compelling story.
A mainline station on the HS1 route gives residents access to London St Pancras in less than 40 minutes, it is just a 25-minute drive to the UK’s fourth-largest shopping centre and is the site of the proposed £1.8bn Paramount theme park, which is due for completion by 2021.
With its own improving waterfront and inward investment pouring into the town already, expect the current £190,000 average price to attract Londoners and commuters alike, pushing the average asking price close to 300,000 by 2021.
• Best for: Commuters, families and capital growth investors
Check out new homes for sale near Chatham, Kent
Oakham in the East Midlands is nestled neatly between Leicester and Peterborough, with a population of just 10,922. Oakham lies to the west of Rutland Water, one of the largest man-made lakes in Europe, making it an idyllic location for homeowners.
Oakham’s prices soared 13% over 12 months, and given its easy commute by direct train or road to either Leicester or Peterborough in less than 30 minutes, this rise looks set to continue. Current average sold prices under £240,000 and terraced properties under £170,000, a price explosion is only around the corner.
• Best for: Commuters and families
Check out new homes for sale in Oakham