According to Ascend Properties’ analysis, the further north, the higher the rate of house price growth, as the northern UK cities continue to attract interest from investors and tenants. [soros] Q1 2021 hedge fund letters, conferences and more Northern housing prices rose 9.8% Overall prices rose 9.8% in […]
April 20, 2021
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This story originally appeared on ValueWalk
Housing prices in the North increased by 9.8%
Overall prices increased 9.8% annually in the North as of January 2021, compared with 6.6% in the Midlands and 6.4% in the South.
While prices are rising in the North, it’s still relatively affordable for the investors and owners are the same.
Property prices average at £ 167,211 across the Northern regions, less than half of typical prices in the South (357,257).
The Northwest (12.0%) has seen home price inflation highest, bringing prices to typical £ 184,234, while Yorkshire and Humber (8.9% £ 179,248) and North East (8.5% £ 138,151) are not far behind.
Divide East and West
Curiously, there also appears to be a burgeoning East-West division in Britain.
The Eastern Midlands (7.6%) outperformed all Southern regions in terms of price growth, while the Western Midlands had the lowest growth rate in the country (4.7%).
Some have left the biggest cities in search of green space due to the pandemic, which probably explains why the West Midlands, home to the UK’s ‘second city’ in Birmingham, is falling. back to the back.
There is a similar trend in London, the second lowest (5.3%) growth rate in the UK.
Rental profits increased most sharply in the North – Although decreased year on year
Average rental yields are at 5.2% in the North of England, compared with 4.1% in the Midlands and 3.8% in the South.
Although strong rental growth in the region meant rental yields fell slightly YoY, the area remains the best bet for landlords, with UK best rental rates found in Yorkshire and Humber, at 6.0%.
CEO’s Ascend attributes, Ged McPartlin commented:
“The North of England has long been a place where investors can make a lot of money, and research has proven why.
“Higher rental yields, good price for buyers and renters, as well as rising prices, making the area a hotspot of activity.
“The only surprise was that output declined in the North, although if prices continued to rise in regions it would reduce annual income a bit.
“We are delighted that the so-called Northern Factory seems to be becoming a reality, as more and more people are coming to live and work in more affordable parts of the UK.”
- Ascend is the nation’s leading Construction for Rental specialist.
- Founded in 2014, the company has won numerous awards for its professionalism and exceptional customer service.
- Ascend has been named Northwest’s Best Letting Agent at ESTAS Awards for four consecutive years and has won over 65 AllAgents Awards.
- The company has had outstanding annual growth, reporting consistently high revenue every year.