Investing in areas with growing house prices

The Office for National Statistics (ONS) revealed the latest edition of its House Price Index for April 2016 earlier in June. The report uses the latest data to determine the monthly inflation in prices in the property sector. The report is a useful read, especially for people looking for investment properties. It gives them an insight into which areas to target.

The top five local authorities in terms of annual growth to April 2016 are all in London. The City scored the highest with price growth of 27.3%. It was followed by Slough, Waltham Forest, Thurrock, and Barking and Dagenham.

The most interesting thing about the latest statistics is that they show how impressive the growth is in some of the most affordable Boroughs in London. Thurrock stands out because the average house price was below £250,000 during the period. Barking and Dagenham was slightly ahead and Slough even more so, but both of these destinations also had prices below an average of £300,000.

The document shows that investors are increasing looking at areas where their money can go far and they can stand to make a good return if growth continues. It also reveals that people are continuing to invest in areas that will benefit from Crossrail when it is finished in 2018. Barking and Dagenham is one such destination and will enjoy better connectivity with the rest of London when the project is finished. It has also been the subject of extensive regeneration projects over recent years.

At Finefair we are committed to supporting investors looking for the perfect properties. We keep a close eye on the latest data so we can offer up to date advice on which areas offer good opportunities. Our clients appreciate the attention to detail we offer and our ability to take their criteria and help them to find a property that suits their needs.

If you would like to arrange a consultation please contact us. Our team are supportive and deliver personalised services for each client searching for investment properties. You can rely on us whether it is your first foray into investing or you already have a portfolio.