English gold: the best destinations for investment

English gold: the best destinations for investment

The experts noted a sharp recovery in prices after the recession in the property market in the UK, highlighting the areas of the country with the best growth prospects, reports ee24.com referring to the British media. In these places real estate will be worth its weight in gold.

Office of National Statistics points out the rise in prices of 3.1% for the year as of June 2013 compared to 2.9% as of May 2013. Confirmation of this information comes from the Royal Institution of Chartered Surveyors, who notes that prices are rising at a rate comparable to the pre-crisis level of 2006.

Best of all the price increase is noticeable in London and the south-east of the country, but also for the first time in many years, buyer activity is increasing across the country. And, apparently, the situation will continue, as experts predict a rise in prices by 7% in 2014.

There are three main factors that influenced this surge in activity. First - is a public scheme of incentive home buying. The second - a scheme which allows banks to issue mortgage loans at reduced interest rates. The third - the decision of the Bank of England to keep interest rates at record low levels for some time.

Looking at such rosy forecasts, cunning buyers rushed to make a bargain. And here are the places where it's best to invest the money at the moment:

Wales

The cost of housing in Wales rose by 4.3% over the year, while during the recession the price collapse here was almost the sharpest in the UK. Experts note that in July 2013 the activity of buyers was even higher than in June, sales rose by 8%.

West Midlands (Birmingham, Coventry, etc.)

In this region the highest number of interested buyers since April 1999 was registered. Following the increased demand the supply is also growing. Sales are usually valued at around £300,000 - £750,000 (€56,238 - €890,597). The experts noted that sales activity has not abated even in the traditionally quiet August.

Huddersfield, West Yorkshire

In this region the activity of buyers also increased significantly over the past few months, and experts predict a further increase in the number of queries and transactions. Objects are sold at around £120,000 - £130,000 (€142,495 - €154,370).

North East of England

The region has the highest level of investor interest over the past 14 years. Prices are rising for the first time since January 2012. The most popular destination is the Jesmond (Newcastle upon Tyne), where the four - six-room house costs about £500,000 (€593,731), which is three times more expensive than in the 1990s.

Leighton Buzzard (Central Bedfordshire)

In this area, there was an unexpected drop in prices. Semi-detached house is worth an average of £230,000 (€273,116). Just 33 miles to the south in Gerrards Cross (Gerrards) the same homes are worth 60% more expensive - around £655,000 (€777,788). Now is the time to buy in Leighton Buzzard, while prices have not returned to its original state.

Cambridge

Cambridge real estate is not for queues of customers, so local agents invite individual customers for the fight for the best sites. 50 percent of sales is made through auction or negotiations between the potential buyers. Record proposal was made at the level of 21.53% above the starting price. Given that the number of offers in the region is limited, prices are rising rapidly. The only thing to fear - is a sharp jump in prices instead of gradual growth.

Text: Ivan Ulitin, ee24.com, based on The Telegraph