Regional cities will benefit from substantial growth in house prices in the coming years as they close the gap to London – and national estate agents Leaders has named five locations in which it expects the greatest gains to be achieved.
New research by Hometrack shows increases of between 20 and 30 per cent are likely to be recorded in the largest regional cities between now and 2022.
Kevin Shaw, national sales director at Leaders, has identified five towns and cities he thinks are set to top the charts when it comes to recording significant price growth in the coming years:
• Mansfield, Nottinghamshire
• Warrington, Cheshire
• Eastbourne, East Sussex
• Bedford, Bedfordshire
• Birmingham, West Midlands
Kevin says: “London has driven the UK housing market in recent years with house prices surging by 86 per cent since 2009. However, now it is time for smaller towns and regional cities to hit back and we believe homeowners in these locations stand to benefit most of all in the next three to four years.
“Homeowners and investors searching for a property with the potential to be worth considerably more in the near future should look towards Mansfield, Warrington, Eastbourne, Bedford and Birmingham; and in the case of the latter, I would particularly recommend the Kings Norton area of the city.
“Each of these locations is on the up and we have noticed an upturn in demand for all types of homes in recent months, which is a key indicator of a future surge in property values.
“This trend is likely to be felt across the country, although those cities outside the south-east have the greatest potential for growth and are likely to achieve the largest gains.
“Despite this, we have still included the East Sussex town of Eastbourne in our top five house price hotspots as we cannot ignore the immense potential it boasts and its status as arguably the fastest-growing commuter town in the region.”
For expert advice on buying, selling, letting or renting contact your local Leaders branch.