Property hotspots outside of London
Property ‘hotspots’ appear to be the flavour of the month. A new list seems to pop up every week, outlining where people should spend their money claiming ‘this place’ or ‘that place’ is the one to watch.
Whether it’s a list of the best places to buy in London, or a list of the new kids on the block (so to speak), the term ‘property hotspots’ is appearing more frequently in our Google News feed.
This article falls into the same category however, buyers may wish to be quick of the mark if they wish to purchase in locations Quick Move Now have named the ‘hottest property markets’ in the UK.
Quick Move Now has named UK towns and cities where properties spend the least amount of time on the market.
Reading tops the list with properties on the market for a mere 64 days on average. Only a short 30 min train ride from London, Reading is a popular choice for commuters. Properties are a fraction of the price than the capital and offers buyers much more for their money.
It would seem that many locations featured in the top 10 list are within commuting distance of London. This suggests that Londoners are looking outside of the city in a bid to secure a property.
Top 10 property hotspots:
- Reading (64 days)
- Bristol (74 days)
- Worthing (87 days)
- Hove (87 days)
- Colchester (88 days)
- Rochester (88 days)
- Edmonton (89 days)
- Milton Keynes (90 days)
- Swindon (91 days)
- Brighton (91 days)
The research also revealed that 68% of sellers in London and the South East expect to receive an offer on their property within the first month of it being on the market.
Readers should note that this list has been compiled based on the average time a property has been on the market. Some locations may have less desirable properties which have been on the market for a longer period – dragging their averages down.
As previously stated, this is just another property hotspot list which investors can use as a handy guide.