London is expensive and overcrowded, which leads more investors to look for new places where they can make money out of their investment property. If you are also on the lookout for alternative places to invest, check out the following areas:
We always hear “mind the gap” while riding the London Underground. But surprisingly, this phrase can also be used to describe the difference between house prices in London and the quaint town of Winchester.
Aside from the price, many Londoners are now also discovering the difference in area and space of houses located just 54 minutes away from the capital, compared to the usual cramped flats in London.
Charles Birtles, a buying agent in Hampshire, said that many professionals are taking advantage of the low property prices in Winchester, and they don’t seem to mind the commute from London to get to their comfortable houses.
Biggleswade may be the last town on your mind when looking for a fashionable or trendy town to live in. But things may change soon as a new Center Parcs resort in Woburn is predicted to pump £20m a year into the local economy. In addition, 2,100 new properties are also expected to be built within 6 years at the King’s Reach development.
With all these impending developments in the area, it’s not surprising that recent Zoopla data are showing property prices jumping 12.79 per cent within just 12 months!
Almost everyone is in agreement that property prices in Essex will increase once the Crossrail is finished on 2018. In 2 years, commuters will be able to travel to central London in 40 minutes and to Heathrow in 72 minutes!
According to Stephen White of Savills in Chelmsford, the value of properties within a mile of Shenfield Station will jump to 10% – 15 %. He also expects more people to move in Essex, because of the accessibility that Crossrail will bring once it is operational.
North Oxford, Oxfordshire
Living in North Oxford meant having long commutes to get to London. All of this is now a thing of the past as Chiltern Railways opened a new station – Oxford Parkway- last year. The new station has since cut the travel time from North Oxford to London down to an hour.
Glyn Buckley, director of Winkworth in Oxford, said that new properties near the station are being built 10 minutes away from the station – a 22-apartment gated Waterside development at Kidlington
If you are a big football fan, you know that East Manchester is home to big football stadiums. While fanatics would gladly give an arm and leg to live near their favourite teams, other residents may want to give up their house in this place because they can’t find a proper parking during weekends.
But now, Halifax is saying that average house prices in the streets near Manchester City’s Etihad Stadium have risen by 150 per cent in a decade. The second-biggest increase has been around Hull City’s ground (123 per cent), with Chelsea coming third at 121 per cent.
What are you waiting for? Check out these places now and buy an investment property now!