If an asset is in demand with a short supply, then the price will increase. Therefore if there is an estate or local postcode area that is well sought after then the house prices will increase. Schools will be over subscribed and local businesses will be growing.
There is a great impact on the house prices and they are what else is happening outside. London has an effect on the rest of the market because of its size of the economy. Individuals are looking to live outside of London because the house prices are well above the average prices and average salaries making a lot of areas unaffordable. More recently, families have opted to live outside and commute into London when required. For this reason, Milton Keynes has had a price increase in recent years. House prices beside local transport usually do well. So for example the terrace houses next to the Leicester train station on London Road do very well. London Road also has retail outlets that have been able to grow from local commuters. It only takes 1 hour to get from Leicester to London.
If you are looking to invest consider where there are developing areas and investment going into transport. When making a wise purchase, you will want to invest where there is a bargain. That is usually before an area has completed from development. You will want to get on, on the deals early.
Brexit has made a little bit of an impact to the market as investments into the country have decreased. Once there is stability then we are likely to see growth and businesses putting money where their mouth is.
We have spoken to mortgage brokers where they have confirmed the sales market has slowed down and bank interest rates have retreated back although they don’t have much space to make further cut backs. 1.99% for a buy to let on a fixed rate for 2 to 5 years is available with a product fee from £2000 to £3000. Ask a local mortgage broker.