How to work out the next prop­erty hotspot

Kent Messenger Maidstone - West Kent Property - - HOME NEWS -

The lo­ca­tion of a prop­erty is of­ten a key com­pro­mise buy­ers need to make when it comes to house hunt­ing.

Seven in 10 (70%) peo­ple who got on the prop­erty lad­der in the last two years say they ended up buy­ing a home that was not in their orig­i­nal pre­ferred place, ac­cord­ing to a sur­vey from Post Of­fice Money.

On av­er­age, they were liv­ing a 26 minute drive away from where they had orig­i­nally wanted to be.

So if you can’t buy in your ideal lo­ca­tion, how can you pin­point ar­eas within your bud­get that may be likely to see prop­erty val­ues rise in the fu­ture?

Post Of­fice Money has teamed up with tech­nol­ogy firm Pro­por­tu­nity to help buy­ers iden­tify the po­ten­tial “hid­den gems” of the fu­ture in five steps:

Step 1: Iden­tify the more af­ford­able ar­eas of where you want to move to, by look­ing where prop­erty prices are much lower than the av­er­age for your city or re­gion.

Step 2: Con­sider whether you want to avoid ar­eas that have al­ready seen par­tic­u­larly high house price growth in re­cent years, as there may not be as much room left for fur­ther in­creases in prop­erty val­ues.

Step 3: Look at any projects planned that could im­pact on the area that may be a sign of re­gen­er­a­tion and a po­ten­tial in­crease in house prices.

Step 4: Look at crime rates in the area to un­der­stand whether they are im­prov­ing or wors­en­ing.

Step 5: Any de­vel­op­ments planned for schools in the lo­cal ar­eas could also have an im­pact. Im­prove­ments in the ed­u­ca­tion of­fer­ing in af­ford­able ar­eas could po­ten­tially push house prices up.

Last year most prop­erty sales in Kent in­volved ter­raced prop­er­ties which sold for on av­er­age £288,222

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