UK Property Hotspots: (According to research based on property uk transactions by property website Globrix.com uk properties)
UK Property Hotspots: 1 Milton Keynes (MK10) Milton Keynes is one of the fastest growing cities in Europe and tops the property hotspots for having the highest turnover of property transactions over the past year. The level of business and the above average incomes makes for an extremely desirable lifestyle as a resident. Industrial areas such as Brinklow and Broughton house thousands of jobs and the latter is actually home to one of the UK’s largest Tesco stores. Perhaps the most attractive aspect of the region though is its easy commute to London via high speed rail which can take commuters directly to the capital in just over half an hour. The area is therefore highly popular for providing green, picturesque living but with easy access to the hustle and bustle of the capital city. The city combines all of the above along with unrivalled entertainment and leisure facilities which are great for families. 2011 is set to be another year of growth for the city despite the local council’s budget plans for the New Year.
2 Salford (M4) Salford is set to thrive in the New Year, largely due to the huge relocation programme of the BBC to Media City in Salford Quays. Five major BBC departments are due to set up home in Salford, resulting in hundreds of dedicated workers looking for property in and around the area, ready for the final stage of the move in the New Year. Property demand has never been so high in the area and the influx of BBC workers is likely to cause a surge in property prices in the area. Situated close to the A57 and with easy links to the nearby M602 motorway, places such as Ordsall and Weaste have proved popular for property searchers. Back in 2007, Ordsall was actually ranked 17th out of 35 property hotspots following a huge regeneration project and the area has thrived ever since. Salford is also home to the University of Salford resulting in a huge student population in the area. So pressure is on for high volumes of affordable yet quality housing in the town.
3 Watford (WD17) Watford is arguably one of the most well-connected towns in the whole of the UK and so is an absolute favourite with commuters. Watford Junction Railway Station operates various services to London, all of which take less than an hour. There are also high speed train services from the junction to Gatwick Airport, Milton Keynes, Birmingham and Manchester. Also Watford tube station, as the last stop on the Metropolitan Line, has direct links to the Capital and to Cassiobury Park. The park is Watford’s most exclusive and expensive residential areas which is extremely popular with young families. Located also in the area are; Watford’s most established primary school, Cassiobury Primary School; Cassiobury Junior School and separate boys and girls grammar schools. Nascott Wood is another exclusive area of Watford, with house prices ranging from £500,000 to as much as £2m. The exclusivity of Watford makes it a competitive potential property hotspot for 2011.
4 London (E14) Many of you may be surprised to find that London only ranks fourth on the top UK property hotspots. This is mainly due to the fact that there is a severe lack of affordable properties to buy in the capital. Not only this, but there is little to no room for redevelopment, so the region is dominated largely by buy to let properties, which is of little interest to homeowners looking to relocate or to growing families. However, as fourth on the list, London is undoubtedly the hub of business, with Canary Wharf standing high as the tallest habitable building in Britain. Just fewer than 100,000 people work in Canary Wharf, which makes it a huge property hotspot for commuters. The business district is home to the World and European headquarters of numerous major banks, professional services firms and media organisations there, drawing in people from all corners of the world. Transport links to the business district are frequent and reliable so surrounding areas such as Poplar and Limehouse are very popular with these commuters looking for property. Canary Wharf actually gives the area one of the highest average incomes in the UK, making property prices and land values in the surrounding areas extremely high.
5 Bournemouth (BH13) Bournemouth has edged its way onto the top 5 list, mainly as being home to the exclusive Sandbanks. The area has some of the highest property values in the world, including the second highest prices in the UK, just behind London. Bournemouth has also been one of the first areas in the UK to be introduced to fibre-optic broadband, an ambitious and innovative project which is set to slowly spread throughout the UK. The media coverage of the project has undoubtedly boosted the areas popularity. It is possibly one of the most prosperous areas in Britain with businesses in the town having access to a local market of around 435,000 residents. The town’s economy has seen a rapid development in the service sector over the past decade and now enjoys one of the highest reputations in the conference world. The area has a nice mix of business and pleasure too with Canford Cliffs attracting water sports enthusiasts from around the country. The areas dynamic and diversified economy makes it a dark horse to be watched in the New Year in regards to its property market. So it is clear that the South dominates the property markets once again! This Top 5 list represent the UK towns and cities that are most successfully and rapidly recovering from the recession of the past 3 years, with only one actually being located in the North of the country. Nonetheless, 2011 is set to be one exciting year for these 5 hotspots by all accounts, so, watch this space
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