The top affordable property hotspots have been revealed – and Liverpool tops the list, according to new research. It only considered areas where homes are still cost less than the UK average of £200,000.
The city has seen the average price of a home rise 40 per cent in the past five years, according to research by Which? Mortgage Advisors. However having risen from £85,000 to £120,000, prices are still well below the UK average of £200,000.
The research took the average price of property between 2011 and 2014 – in a bid to smooth out any volatility in prices that would have skewed the data – and compared it to the average for the year to November 2015.
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.
The research follows a report from Nationwide revealing that average house prices across the country have edged towards the £200,000 mark. It said prices had increased 4.8 per cent in February compared with the previous month, reaching £196,930.
At Belvoir, we pride ourselves in having a combination of the very latest marketing techniques that help to achieve the best price for your home. For advice on ‘Buy to Let’ and selling contact us on 0151 231 1613 or liverpoolcentral.sales@belvoir.co.uk
