Property Hotspots
You hear this buzzword on a regular basis in the media - the next big price rise with the expectation that if you don’t act quickly you will miss the boat. In 2020 during the pandemic, Property Hotspots were seen as anywhere outside major cities, with outside space to meet friends.
Since then house prices in London appear to be on the increase and research suggests more people are now moving closer to more urbanised areas, instead of more rural parts of the UK. Where are the current UK property hotspots? Rightmove property expert Tim Bannister highlights that since pandemic restrictions have been lifted, competition has increased most in areas just outside Birmingham, Newcastle and Manchester, as more people look to be closer to cities either for work or for their lifestyle.
Although my office is based in Notting Hill, I commute from my office in Lewes and work around the East Sussex towns too. During lockdown and working from home, I was able to walk around and really appreciate the natural beauty and history of the area - even though I’ve lived here for 20 years! My preference has been long walks on the South Downs and the beaches nearby, restful air during various dog walks and a lungful of fresh air. There are many Property Hot Spot options, so many more now Covid restrictions have eased.
There are many towns outside London that are undiscovered, here’s my top 2 -
Worthing, West Sussex
Move over Brighton: Worthing is shaking off its reputation as an retirement haven and changing into ‘Creative Worthing’. Huts on the town’s East Beach have been converted into artists’ studios, there is the Colonnade House Creative Hub (affordable workspace for artists, makers and designers) and the Cellar Arts Club. Add theatres, galleries, the Grade II-listed Dome Cinema (the UK’s oldest working picture house dates from 1911) and the Southern Pier Pavilion (for live gigs).
Worthing has a lot to offer young families too – and some excellent properties from Georgian to Art Deco. And Brighton is only 11 miles away.
Southend-on-Sea, Essex
London’s nearest seaside resort (an hour or so by train) is, according to Land Registry figures, the property hotspot of the century – with prices rising faster than anywhere outside the capital.
Southend-on-Sea offers good employment prospects and excellent schools (its four grammar schools are all rated as outstanding) – and yet property prices are still lower than much of the south-east commuter belt for houses and for flats.
And if you think it’s all amusement arcades and crazy golf it really isn’t, Southend has some fine property, in Southend and in Westcliff and in the Clifftown Conservation area).
As with every property purchase, particularly in an unfamiliar location, it’s important to have a full survey and a full valuation to understand what you are buying.
Stuart Scotland
4/5/22