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Regeneration Driving Britain’s Most Affordable Property Hotspots

Liverpool, Conwy and Bradford were named as Britain’s most affordable property hotspots in a new report, with regeneration projects a driving force behind growth.

Liverpool, Conwy and Bradford were named as Britain’s most affordable property hotspots in a new report, with regeneration projects a driving force behind growth.

Which? Mortgage Advisors have ranked the UK areas where house prices have seen the highest increase from 2011-2014 through to November 2015.


Liverpool city centre saw a 41% increase in property values, the Welsh market town of Conwy increased by 37% and Bradford’s central BD1 postcode saw house prices rise by 36%.


Also on the list were major urban hubs such as Birmingham, Manchester and Leeds, as well as smaller areas such as Gwynedd and Bexley.


Regeneration of areas such as Bradford, which has seen the development of the city centre, including a new Westfield shopping centre, saw prices rise from £42,000 in 2014 to £57,000 in 2015.


Similarly, Birmingham, set to become the new Midlands hub for the UK’s new high speed arterial train link HS2, experienced a 27% increase in property values increasing to £159,000 from £124,950.


Placing fourth in the list, Salford has seen rapid expansion over the last decade, with the city’s Quays area welcoming major international businesses such as the BBC and ITV. Property prices in the area have risen from £95,000 to £127,890 – an increase of 34%.


The research from Which? follows a new report by Nationwide that revealed house prices in the UK are moving towards the £200,000 price mark. Executive adviser for Which?, David Blake suggested that soaring house prices are being driven by demand for properties ahead of the new Stamp Duty Land Tax changes.


The market has seen a surge in demand from landlords and property investors as they look to expand their investment portfolios before the changes take effect on April 1st.


Areas such as Bradford, Salford and Birmingham, which are receiving such widespread investment through regeneration projects are continuing to attract property investors, with David Blake explaining that: ‘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.’

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