Hi there! I’m back this week to give you another dose of hotspot lists in the UK for all of you remote investment aficionados.
Hove and Brighton, 2 towns which are part of the picturesque East Sussex Coastline, are now two of the UK’s top property hotspots for young professionals, according to a new property research by Lloyds Bank. Hove came out on top, while Brighton placed fifth in the rankings.
This study collated responses from 25 to 44 year old professionals, who are all well paid in their chosen occupations, and the results reveal that these yuppies like to buy houses where they can take full advantage of the city’s amenities whether it be for business or leisure purposes.
Andy Hulme, mortgages director at Lloyds Bank, explained that Hove and Brighton are very attractive to young professionals for a string of reasons. First, there’s an outstanding supply of quality seaside properties in the area. Second, average house prices in the 2 towns are 38 per cent lower than those in London. Third, these towns are within commuting distance to industrial hubs.
But Hove and Brighton aren’t the only regional towns who made it on the list. Other regional locations labeled as hotspots for young professionals are: Jesmond in Newcastle, Ilkley in Bradford, Clifton in Bristol, and Harborne in Birmingham. Didsbury in South Manchester is the only town in the northern half of UK which made it to the list.
While this year’s list welcomed a lot of regional towns into its ranks, the list is still littered with locations in and near London.
In fact, 9 out of 20 spots were snagged by areas in the South West which include Wimbledon, Wandsworth, Battersea, Streatham, and Fulham. West Kensington, Chiswick, Ealing and Islington make up the rest of areas located in the capital.
Researchers claim that most of the areas included in the list offer properties that come with a very expensive price tag.
For example, average house price for a house in Wimbledon is at £624,110 and a house in Wandsworth would start at £672,178. Paddington and Hampstead, 2 of the most expensive locations in the list, boast of property prices starting at £1,319,237 and £1,310,868, respectively.
Seeing coastal towns dominate in hotspot lists is very exciting news for a beach bum, like me.
I love investing in seaside properties, since they are always in demand. Some people want to live in a house by the beach, while others look for a property where they can spend their entire summer vacation. Whatever the reason, you’re sure that your seaside property will never go empty.
As for property hotspots in the city, I’m never surprised to see them crowd hotspot lists. A lot of people live in the city, and tons more are looking to live there. This constant stream of humanity going in the capital makes sure that your property investment won’t experience a long term vacancy.
Just visit my page same time next week to get more stories about remote investments and everything else in between! See you then!