HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.
New research has found that as cities such as Manchester, Birmingham, Nottingham and Edinburgh develop their travel network, house prices in the immediate areas increase, with an emphasis on growing tram links.
Of 18 areas we looked at, the best value for those wanting to rent is Chatham, on the Medway estuary in North Kent. For those wanting to buy a two to three bedroom house or flat, Chatham also turns out to be the most affordable.
UK house prices are up +8.1% in the year to October, taking the average UK house price to £259,100. Of the UK’s largest cities, Nottingham has the highest price growth at +10.9%.
The number of applications from China and Hong Kong rose from more than 17,000 last year to 21,000 this year. Student tenants are increasingly an important group for the property market.