With the north-west dominating the list of the top 20 emerging UK property hotspots, seven areas of Greater Manchester have been featured.
With the UK property market seeing strong activity, there are some emerging property hotspots. A study by property website Boomin analysed more than 600 areas across the UK. The research looked at a number of factors that make certain locations desirable places to buy property in.
For instance, the research looked at house price rises, Google search demand and the positivity of news in each area. Additional factors that make an area desirable to buy or rent in were taken into account as well. This included crime rates and proximity to the number of schools, gyms and pubs in the area.
More affordable living and strong commuting connections are seemingly a big draw post-COVID. Additionally, this year it’s particularly appealing to have a good restaurant right on your doorstep. Boomin used these factors to rank the hundreds of areas in the UK. This helped the property website find where the most sought-after property locations are.
The north-west and Wales lead the way
Towns and cities in Wales, the north of England and Midlands make up the majority of the top property hotspots. And not one area of the south of England made it on the list of the top 20 locations. This has created a north-south divide among emerging property locations.
Areas of the north-west and Wales dominate the 20 most up-and-coming property hotspots across the UK. The two regions are home to all the locations making up the top eight emerging property locations.
The north-west is represented eight times in the top 20, seven of which are in Greater Manchester. Five towns on the list are located in Wales. Gower in Glamorgan nabbed the top spot. Making up the full list, Yorkshire and the Humber and West Midlands racked up three spots. Northern Ireland also had one area on the list.
A spotlight on Greater Manchester
With Greater Manchester dominating the list of the top up-and-coming property hotspots, it’s certainly an area to look at for property investment. Many of the towns in Greater Manchester have great connections with both Manchester and Liverpool‘s city centres.
Wigan and Manchester Central are the second and third top property locations. The Greater Manchester towns of Rochdale, Leigh, Stretford, Oldham and Heywood also made appearances in the top 20.
Often regarded as the “happiest” place in Greater Manchester, Wigan is home to favourable crime rates. And the town has lower properties prices that are on the rise. Central Manchester has become a haven for Londoners leaving the capital. Many have been looking for more affordable alternatives to city life.
Additionally, Zoopla’s latest House Price Index shows Manchester has seen the second highest level of annual house price growth among the UK’s 20 largest cities with a 7.2% rise. Similarly, in all of the 65 cities and towns monitored by the property portal, Greater Manchester towns Rochdale and Bolton topped the charts. The towns recorded 9.9% and 8.7% house price increases in the past year.
As Greater Manchester is seeing growth and increasing demand in the property market, the city region has strong capital growth prospects for the coming years. Last year, Savills forecasted the north-west to see the strongest UK house price growth in the five years to 2025 with a 28.8% rise.
This growth will likely hit Greater Manchester as well. With this strong prospects for the future, it’s an appealing time for homebuyers and property investors to get their foot in the door.