Where should the UK housing market be at its most active in 2019?

It’s no secret that the continuing uncertainty surrounding Brexit has rather dampened the previous buoyancy of the housing market, especially in London. This situation has increased the importance of property professionals maximising their returns by homing in on carefully-selected hotspots.

While we don’t have access to a crystal ball, we can tell from an array of factors which parts of the UK should see promising growth in their housing markets as the year continues to unfold.

Surrey Quays, Southwark

While London house prices have, since last summer, fallen to £614,000 on average as per a Homes & Property report, analysis by property portal Rightmove has shown certain areas of the capital bucking the trend. Those areas include Southwark’s Surrey Quays…

Here, asking prices for properties have, in the past year, grown by 3.7% to touch £533,607 on average – largely on account of the area’s impressive transport links and promising new developments, including the Canada Water Masterplan.

Barry, Glamorgan

You might know this Welsh seaside town best as the hometown of character Stacey in the hit sitcom Gavin and Stacey, but it’d be short-sighted to cite just that as the impetus for the area’s place at the summit of the UK housing market. Average asking prices here have soared by 11% in a year.

That increase has brought the average price to £191,050 – and, given the well-regarded schools as well as the 2,500 new, under-construction homes in the area, further rises certainly look likely.

Birmingham, West Midlands

While reports have painted a dispiriting picture of the London housing market’s future growth prospects as Brexit-related uncertainty continues to linger, the situation looks very different in cities further north. In justification, we can cite data recently released by property website Zoopla…

This data reveals that Birmingham has seen higher house price increases than any other UK city since the Brexit referendum. The rate of increase was 16% – edging the city ahead of…

Manchester, Greater Manchester

In the Zoopla figures, Manchester’s growth rate in house prices since the referendum has reached 15%. Little needs to be said of the wealth of local attractions, certainly in terms of culture and sport, that likely continue to lure many homebuyers to the Greater Manchester city.

However, it is easy to overlook Manchester’s worth as a business hub. The workspaces available for businesses here include well-supplied serviced offices just a stone’s throw away from Albert Square.

Haringey, North London

A sure sign that you still shouldn’t rule out London despite the discouraging Brexit factor, the Haringey borough of North London has actually seen a 7% growth in its rents in 12 months, reports Homes & Property. In this measure, Haringey has outpaced every other London borough.

There should be even more to come, though, with the local economy tipped for growth of 14% by 2022. Be careful not to underestimate either Haringey’s popularity with younger tenants or London’s continued viability as a business base; local amenities for start-ups, for example, are plentiful.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Estate Agent Talk

Matching Your Needs: Choosing The Ideal Residential Property Management Services

Owning residential properties can be an excellent investment, but managing them can quickly become hard. From handling tenant issues to maintenance and rent collection, it’s a time-consuming task. Fortunately, there is a solution—property management services. They can handle these tasks for you, freeing you to focus on other priorities. However, with so many options available,…
Read More
Breaking News

Third of Private Renters Are Struggling to Afford Their Rents Says New Research

Over a third of all private renters are finding it difficult to afford their rent according to new research out today. Whilst overall 35 per cent of renters said they were finding it difficult or very difficult to afford their rent, this proportion increased to 56 per cent for those not in work due to…
Read More
Home and Living

Why Select High-Quality Shower Drains for Stunning Wet Room Design

A wet room is a fully waterproofed bathroom with an open shower area, where the floors and walls are designed to handle water exposure. One of the most important aspects to consider when designing a wet room is your shower drain. With a great range of available designs, homeowners and those in the construction industry…
Read More
Breaking News

Bank of England’s decision to hold the Base Rate – Industry Reaction

The Bank of England held interest rates at 5.25% for the seventh time in a row. The decision comes despite official figures yesterday which revealed inflation had fallen to the Bank’s target of 2% for the first time in nearly three years. Here are some thoughts from the property industry.   Rightmove’s mortgage expert Matt…
Read More
Breaking News

Breaking Property News – 20/06/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpenBrix, Home, & TDS unite to digitally upgrade the tenant user experience Full disclosure Adam Pigott and the team at Openbrix are one of my original and long serving clients in my day job of getting proptechs from MVP to exit (Proptech-PR). But as…
Read More
Breaking News

Rental Reform Undermined by Lack of Choice for Tenants

A lack of choice for private renters about where they can live will undermine plans set out by many of the UK’s major political parties to reform the rental market. That’s the warning from the National Residential Landlords Association (NRLA) as the Conservatives, Labour, Liberal Democrats and Green Party all propose ending section 21 ‘no…
Read More