It’s Still All About Location, Location, Location
Despite house price growth cooling in some areas – due in no small part to Brexit-related conditions – research from property management platform Howsy has found that there are still pockets of the UK which are enjoying notable price growth.
North Devon leads the way having reported 15% growth year-on-year, followed by Merthyr Tydfil and Blaenau Gwent in Wales, both at 13%, along with Caerphilly, up 11%. Camden was said to be the best bet in London with house prices up 10% in the last year, with West Devon, Forest Heath, Rochdale and Monmouthshire all up 9%, and Trafford seeing annual growth of 8%.
On the buy-to-let front the best yields were recorded in Glasgow with a return of 7.5%. Scotland also accounted for the next best three in Midlothian (6.8%), East Ayrshire (6.8%) and West Dunbartonshire (6.7%). Burnley and Belfast stood at 6.5%, while Inverclyde (6.4%), Falkirk (6.3%), the Western Isles (6.2%) and Clackmannanshire (6.1%) completed the top 10.
According to property portal Zoopla, the lettings market in East Hampshire is also said to be experiencing a significant spike in activity, East Hampshire was reported to have seen the highest percentage increase (46%) in lettings instructions of all UK markets over the last 12 months. This meets the uptake in demand with 73% more enquiries from tenants to agents in this part of the country over the same period.
This data helps demonstrate the sheer stability and robust nature of the UK housing and rental markets, even in the wake of one of the most turbulent economic and political times in recent memory. And it also highlights just how important location, location, location remains for landlords and property buyers when it comes to maximising rental yields and capital gains.