Over the years, there has been a distinct battle between the North and the South of England, with the south often coming out on top where property investment is concerned. However, with prices in London in decline and northern cities being completely transformed, the idea of the south, and in particular London, coming out on top may well be a thing of the past.
Although UK house prices increased overall in Q1 of 2018, industry experts are suggesting that house price growth in London may not be something to shout about over the coming years. This doesn’t necessarily mean that strong investment opportunities aren’t available in London anymore, but it does suggest that investors are likely to look further north of the country for their next venture.
The Focus shifts from London to the North
Many big organisations have made the transition from London to the north in recent years, with Manchester becoming a very popular destination, especially for businesses operating within the technology industry. MediaCityUK is quickly becoming somewhere that such businesses feel that they need to be, whilst the Silicon Canal in Birmingham is also aiming to become a UK tech hub. This makes people want to live in such areas, which of course has a direct impact on the property market, as with demand comes increases to property prices.
London will continue to be a great place for property investment for many years to come, but the north is certain to attract the interest of London investors, with Manchester, Liverpool and Birmingham stand out locations. Investors are very much of the opinion that, if large organisations have the confidence to make the move outside of London, then they should too. By looking outside of London, for the very first time in many cases, it gives investors the opportunity to evaluate their current portfolio and make informed decisions on what type of investment they want to invest in next.
House prices in London are almost certainly going to return to their former level in the future, but with the way that they have changed and the uncertainty caused by Brexit, investors are choosing to look elsewhere. However, with the current situation as it is, investors that have typically operated in London are heading north in order to get the best returns on their property investments, and with the way that northern cities are being transformed, this trend is sure to continue in the coming years.
"The north has a whole host of different investment opportunities, and with a fresh start or a new direction, they may well be what investors look towards in the future."
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