The UK’s Million Pound Home Hotspots
Tuesday 2nd June 2015
Although much of the UK media tend to focus on London as a home for property millionaires and overseas investors, there are considerable pockets and areas where property prices are continuing to grow, with many of these areas now containing a number of million pound plus properties. Here, we look at where has become popular.
Looking to the East
The east is much loved by those looking for properties because of its great links to the capital. There are now almost 1,000 £1 million in the east, with the area becoming more and more popular.
In the east, St Albans has been identified as an up and coming area, with the market appearing buoyant and vibrant due to its excellent transport links and quaint English country feel.
Throughout 2014, the south west saw the second highest increase in the number of millionaire homes, with £740 million worth of property changing hands.
Within the region, it appears as though Bath has been a particular hotspot. Slightly differently to Bristol, this is not because of commuters, and instead it is because people are choosing to live and work within the local area, or travel as far as Bristol.
Unsurprisingly, in the North West, it appears as though Manchester is driving prices, with Cheshire East also proving popular with those looking to locate in the area.
Manchester is much loved by property searchers, developers and landlords alike due to its vibrant city centre and bustling university life. It’s always easy to attract tenants and buyers in Manchester, so it is no wonder prices are rising.
Also unsurprisingly, in Scotland, Edinburgh saw a large rise in the number of people looking for homes there (particularly those in the million pound plus bracket).
Scotland is buoyant at the minute, with many English investors confident in the Scottish market once more after the result of the Scottish referendum campaign. As 2015 rolls on, it wouldn’t be surprising to see prices rise further.
So, there you have it, the UK’s million pound property hotspots. From this data, it appears as though many of the UK’s current hotspots remain in large cities such as Edinburgh or Manchester, so if you’re looking for properties, these remain your best bet for investments. If you’re scouring around to check the market, however, then don’t just rely on this data, and see what agents such as House Network have to offer, as this will give you a better idea of the market at a local level. Happy hunting.
Editorial Contact Details - Conor Shilling