Regional House Prices Looking to Rise!
In recent news, Regional house prices are set to grow substantially over the next five years as the economy is re-balancing away from London, according to a new report from JLL.
As there is a lot more political certainty about the country due to the win in December by the conservative party, and that Brexit has now happened, this is likely to fuel the price growth of the property market.
The city who seems to be affected by this in the most positive way is Manchester, it seems as if Manchester are predicted to have both the highest sales price which is 17.1% and also the highest rental growth which is 16.5%, of any UK city until 2024! The average sales price for the UK is about 14.8%, so you can see that Manchester is notably higher. Manchester’s growth is because of the economic growth and the appeal of living in a vibrant city centre as it continues to tug organisations such as the BBC away from London.
Bristol and Birmingham are the closest to Manchester with their growth with increases of 16.5%-17%. However, cities such as Liverpool and Leeds seem as if their growth will not be as big as the other 3 cities, however their growth will be massive, considering how both cities are currently performing.
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