HOUSE PRICES of property for sale in these postcodes are soaring in value. Towns such as Birmingham and Edinburgh are seeing considerable boosts in the value of homes. Should you invest here?
There are many ways to make money from investing in property. Direct property investment involves purchasing a home and either letting the property or developing it to sell it off at a later rate. For those with cash in the bank, investing in property can quickly make you a tasty return, especially if you buy in a area where prices are on the rise.
Many investors can even do both, if they choose where they buy their property wisely. Today is was revealed house price growth remains stable at 2.5% annually, with a very marginal monthly increase of 0.1%.
Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “A muted but stable level of house price growth is probably the best we could hope for at this time of year, given the usual seasonal slowdown coupled with already tougher than normal market conditions.”
“It’s very early days to be observing any kind of impact from the changes to first-time buyer stamp duty and while it may help stimulate demand, and in turn prices, this will only be noticeable much further down the line.”
Where should you invest?
Property for sale in several postcodes across the UK are experiencing a serious boost in house prices, some seeing 17 per cent growth.
While property for sale in London plummets in price, sparking fears of an impending property crash, towns in the north of England and Scotland are flourishing.
Those with cash to spare may look to Birmingham, Edinburgh, Glasgow and Manchester to invest in property.
The town of Ladywood in Birmingham has seen a growth of 17 per cent in the last year. The average house price in July was 2016 in £147,121, and at the same time next year it has increased to £171,498.
The average house price in the city at large grew by five per cent.
Top five postcodes with the best house price growth
- B16 – Ladywood, Birmingham
- EH2 – Holyrood, Edinburgh
- G3 – Finnieston, Glasgow
- M11 – Openshaw, Manchester
- HU1 – Central Hull, Hull
The next best postcode for grown is Holyrood in Edinburgh, traditionally an expensive city. Holyrood is home to the Palace of Holyroodhouse, the official residence of the monarch in Scotland and the Scottish Parliament Building.
Houses are still pricey here but returns on investment are high. The average house price has shot up £46,997 in the past year from £325,595 to £372,592. This is a 14 per cent growth.