The property market in the UK has changed dramatically in the 21st century. There have been periods of rapid price growth, cooling and recession, and recovery. At the same time interest rates reached a historic low and the Government has worked to improve home ownership. Since 2000 some areas in the UK have seen meteoric rises in values. When it comes to investment properties Waltham Forest has proven to be the best location. The average rise in prices in the area is an astonishing 364.9%, better than anywhere else in the UK.
The figures from HouseSimple show that eight of the top ten locations for property price growth are in the capital. All of them have seen average rises over 300%. Waltham Forest grabs the headlines, benefiting from huge redevelopment because of the London Olympics in 2012 and lower house prices than in Central areas.
The second highest growth area in the UK is also a former Olympic Borough with a lasting legacy from the Games. Since January 2000 house values have grown 339% on average.
Outside of London
Southend-on-Sea is the top area outside of London in this regard. In the last 18 years the average rise in prices is a very attractive 287.1%. This shows how popular a destination it has become. Commuters love the area because it has good transport links and residents get to live close to the coast.
The North/South divide is also well represented in the figures. In total 19 areas have growth over 250%. Only two locations are in the north of England. Surprisingly both of them are in Greater Manchester – Salford and Sale.
Looking for new hotspots
While the areas with the highest growth will remain popular, investors are looking for the next locations to enjoy this kind of astronomic increase in value. The expectation is that Outer London will again be one of the top areas.
If you are looking for help you can contact the Finefair team. We work with clients to find the best opportunities and offer a selection of services. When it comes to investment properties Waltham Forest still has lots of potential. We can assist investors, whether they target this area or look further afield.