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These areas offer properties with ‘potentially good mid-term investments’

The locations that saw the biggest house price increases in the last year have been unveiled by the Post Office Money. 

The research, which analyses Office for National Statistics (ONS) data, examines the house prices and first-time buyer affordability in over 80 locations across the UK, to help aspiring buy-to-let investors find the best locations for consideration. 

The study found that properties in Nuneaton, Stockport and Leicester saw double-digit house price growth in the last year, with significant potential for further capital growth. 

Looking longer-term, Brighton, Southend-on-Sea and Luton have seen the greatest house price growth over the last 20 years, with property values increasing by more than 380% in that time.

Chrysanthy Pispinis, Post Office Money, said: “Rental income and opportunity for capital growth should be fully explored in the mid to long term to help evaluate the best locations as you begin your property search.

“The market as a whole may have slowed in the last year but many locations, especially in the Midlands and North, are continuing to see significant house price growth. These properties are potentially good mid-term investments, particularly as they sit in locations that continue to be affordable, even for first-time buyers, which can be a great indication of future growth hotspots.”

Biggest increase in house prices in the last year

County

City

Average house price

1-year
change

% Affordable for FTBs

Warwickshire

Nuneaton and Bedworth

£179,995

+11%

76%

Greater Manchester

Stockport

£225,000

+10%

31%

Leicestershire

Leicester

£172,000

+10%

70%

Glamorgan

Cardiff

£202,000

+9%

31%

West Midlands

Sandwell

£148,950

+8%

92%

Scotland

Edinburgh

£261,812

+8%

6%

West Midlands

Coventry

£179,950

+8%

69%

West Midlands

Wolverhampton

£149,995

+7%

88%

South Yorkshire

Sheffield

£159,995

+7%

67%

Cambridgeshire

Birmingham

£175,000

+6%

69%

Key cities in the Midlands and the North of the UK continue to boom despite the slowdown in the Southern market. Cities continuing to see growth include Cardiff (9%), Sheffield (7%), Nottingham and Birmingham (6%).

Chrysanthy added: “The number of households renting in the UK has increased from 2.8 million in 2007 to 4.5 million in 2017, a rise of 1.7 million [63%].

“This shows that there is still a real need for buy-to-let properties and therefore an opportunity for those looking for a New Year investment.”

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