A few weeks ago, UK housing prices saw growth. Not long after that, house prices regressed to record levels. Then mortgage approvals hit a nine-month low. The UK housing market is so volatile that the trends are impossible to follow. While the market may be stagnant overall, there are still some areas that are investment-worthy. Here is a look at the best UK housing markets to invest in during these uncertain times:
As of spring 2017, the Croydon housing market is doing extremely well. Homes in the Croydon area sell for an average of £374,342. Even better news for home-buyers and sellers: that price is generally obtained within 30 days. Unlike most areas affected by the Brexit vote, Croydon has seen a steady increase in housing prices over the last two years. Terraced properties and flats have seen its value inflate recently. Home-sellers in the area have made it their prerogative to make sure Croydon stays atop the troubled market. They are refusing to sell their properties for anything less than established value.
Just four months ago, experts deemed Northampton the top property market in the UK. Much of Northampton’s allure has to deal with the record pace at which homes are sold and purchased. In March, properties were bid on in just 27 days – that’s 20 days quicker than the average UK property. While average prices don’t match that of homes sold in Croydon, the Northampton properties do sell a lot faster than its neighboring area. Many also believe Northampton is a better market to search for a new home because it is a less sought-after area than Croydon, making the bidding process much easier with less competition.
With an average housing price of £175,552 received within 33 days, Glasgow is a premier market for buyers and sellers. While most markets have struggled mightily for several years, Glasgow has been the model of consistency. The city enjoyed more than a 7% increase in home value this past year. It was one of the highest increases across the UK – just trailing Manchester’s 8.8%. Zoopla, the UK’s top site to buy and sell homes, was responsible for compiling the housing market statistics.