Property hotspots are locations that are likely to see the biggest rise in house prices over the next 5 years or so. Here at Inspired Homes we know a little about hotspots and believe we have a couple of contenders for top UK property hotspots in our portfolio.
Across the UK as a whole, house prices are expected to rise by around 4 or 5% in 2016, with London and it’s southern boroughs performing well. So how does a town or district become one of the top UK property hotspots? If you look near areas that are already perceived as top UK property hotspots, that is a good place to start. Whether that is a few more miles on the road or a couple more tube stops down the line, areas adjacent to existing hotspots are likely to grow off of the success nearby.
Transport links also play a large part in areas becoming top UK property hotspots. If there is a great deal of development underway at train stations, bus stations or on road, then these improvements are only going to benefit the area. If developers have moved in, then that is a good sign that the area is set to boom. Croydon, for example has the odd crane or two in its skyline, suggesting that a great deal of development is underway.
If you want to get ahead of the game then do a bit of research into what is going on in London boroughs and you will find some top UK property hotspots emerging. For example, if you were to Google ‘Croydon regeneration’ you will find out an awful lot about how the town is booming and will continue to do so over the next few years. You will learn about the extensive regeneration of the Westfield Shopping Centre into a retail and entertainment complex that will rival any in London. The centre is attracting all the top retail brands – another indicator that the area is already becoming one of the top UK property hotspots.
Looking at top UK property hotspots can be a real eye opener if you are an investor or first time buyer. Do your research properly and you might find a real gem of a property that will show a substantial increase in capital over time.
Inspired Homes became aware of the potential of Croydon and other London suburbs to emerge as top UK property hotspots a few years ago and have developed a series of contemporary, open plan and high tech apartment blocks in these areas. Find out more about them here.