Norwich named in top areas where prices have grown by more than 250% since 2000
There are 19 places across the UK that have been named as having grown more than 250% since the start of the new century. This is according to new research by online estate agent HouseSimple.com.
Taking the top spot for growth in the 21st century so far was Southend with prices on average having grown by more than 287% since the year 2000. The information, which was gathered using the land registry as a source, shows that the Essex coastal town has seen bigger growth than any other place outside the city of London. However, there are many other cities and towns also showing signs of growth. Many of these are located in the east of England, with Norwich among them.
Within London, it was the borough of Waltham Forest that topped the overall charts, with an incredible 364% growth. This popular commuter area has been very popular with people looking to escape the soaring prices closer to the city centre but also wanting to be in London. Hackney, the site of the Olympic Games, has also seen significant price rises since 2000.
Sam Mitchell, chief executive of HouseSimple.com, said:
‘While London is the clear winner when it comes to house price growth since the turn of the century, prices have boomed in many areas outside the capital as these figures attest’.
‘What’s more impressive is that in the middle of this 18-year period, we experienced one of the worst recessions this country has ever seen. It shows the resilience of the UK property market.’
If the growth continues then the property map of the UK could look very different in another 18 years from now. Hot spots such as the east of England and Norwich could continue to grow and provide excellent opportunities for investors and home buyers.
While it is likely that London will continue to grow, other areas of the UK may well catch up or at least narrow the gap. The UK housing market remains strong.
As always, if you need any information about investment opportunities in the Norwich or Norfolk area, then you can get in touch with our team at Agile. We have been at the forefront of the market in the area and no one knows more about the best investment opportunities. We’re always happy to talk so feel free to contact us.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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