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Revealed: the affordable property hotspots 'on the up'

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Revealed: the affordable property hotspots 'on the up'

New research by Which? Mortgage Advisers reveals where homebuyers can find homes under the national average of £200,000, in areas that have seen the biggest increase in property prices in the last year.

The new Which? analysis, and interactive property price map, reveals the areas of the country which have seen the largest increase in property price in the last year, yet remain below the national average property price of £200,000. These areas on the up could be prime locations for first-time buyers or investors.

The analysis of Land Registry data reveals that Liverpool's central 'L1' is the top affordable area on the up, having seen a property price increase of 41.2% in the last year. An average property increased in value from £85,000 between December 2011 and November 2014, to an average of £120,000 for the year to November 2015.  

Second and third were Conwy's 'LL27' in North Wales and Bradford's 'BD1', just east of the city's University. Average property prices in these postcode areas increased by 37% and 36% respectively. In Conwy's 'LL27', the average property price rose from £135,000 between 2011 and 2014, to £185,000, and in Bradford's 'BD1' they rose from £42,000 to £57,000. Despite the significant increase in average property prices in these areas, they remain under the national average.

Even in the capital where prices are higher, Bexley's 'DA18' had affordable homes with potential to increase in value. The average property price in DA18 was £191,500, up by 32% in the last year.


David Blake at Which? Mortgage Advisers said: “For a first-time buyer or a buy-to-let investor, these up and coming areas can provide an affordable alternative to buying in an already established area. You could see your property grow in value quickly, but it's important to remember that property markets can change, and there is never a cast-iron guarantee that values will continue to rise.

A mortgage is a significant financial commitment that needs to be considered carefully. Seeking independent mortgage advice early on is vital in order to know what options are open to you.”

Which? Mortgage Advisers provides the following tell-tale signs that an area may be 'on the up':

    If an area is next to currently thriving town
    If a local authority plans to regenerate the town centre
    If there are plans to improve transport links
    If new trendy shops, restaurants, cafes and nightlife start to appear
    If you see skips and scaffolding -an indication of increased prosperity and improved housing stock
    New build properties appearing - often increasing the value of surrounding properties too
    New schools being built or current ones climbing Ofsted rankings - often property values in the surrounding catchment area increase too
    New estates agents appearing - a sign of a growing property market

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Latest Comments

Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

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HMO Midlands Landlady
HMO Midlands Landlady 24 May 2016

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CommercialTrust
CommercialTrust 20 May 2016

With the bulk of the market controlled by large developers, profit rather than necessity determine the pace at which homes are built. There are hundreds of thousands of plots that have planning permission...

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Johna
Johna 20 May 2016

"Easier said than done" is what I would say. Of course, it would be more than great to have more in quality and affordability, but I do not trust talk anymore.. What is said is not what is happening.

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Johna
Johna 20 May 2016

in my humble opinion being fair like THE most important! I myself have had bad experience with unfair landlords... not to mention that I know how to do a proper end of tenancy cleaning since I am a fantastic...

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richardrawlings
richardrawlings 18 May 2016

NB - even if we doubled our commission levels in the UK, we'd still be by far the cheapest agents in the entire world.

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Agent_PeeBee
Agent_PeeBee 18 May 2016

Clueless. Someone needs to take these people's computers away from them so they can do no more harm than they already have.

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richardrawlings
richardrawlings 18 May 2016

Nonsense! The cost of selling a house nowadays has little bearing on the fees charged. Don't believe your own spin on this. Fees have spiralled down to pathetic levels in areas where weak agents have allowed...

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Simon Oliver
Simon Oliver 16 May 2016

The best solution is to buy a property that has built-in income generating potential: a nice house with a couple of gites in the grounds is a good start. In France, the rune of thumb is that one 2-bedroomed...

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WPD
WPD 12 May 2016

I suggest the answer is to have the notary system being one legal person who represents both parties. Having experienced it a couple of times in France it was a dream compared to our dysfunctional system....

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warren
warren 03 May 2016

It's enough to make me weep into my Pimm's :(

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james anderson
james anderson 03 May 2016

The sad demise of the croquet lawn...

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