Yopa found that Manchester had the strongest price growth ripple effect in the past five years of all the cities analysed. Property prices in the city have surged by 37.4%, and surrounding local authorities have experienced price growth of 35.1%.
A similar figure was found for those who invest in Liverpool property, where the second strongest ripple effect was found. The city’s house prices have grown 34.4%, and nearby local authorities have seen an average property price increase of 32.8% over the last five years.
The weakest ripple effect was from London. House prices in the capital have increased by 7.9%, and the bordering local authorities have seen an average rise of 12.2%. London property market news shows that property price growth in the city has slowed down considerably in recent years, but it remains the most expensive region for housing costs.
Steve Anderson, National Franchise Director at Yopa, said: “There are plenty of reasons that homebuyers living within major cities look from the inside out, although this migration is predominantly driven by the search for greater affordability, larger homes and more green space. In doing so, they are also able to remain within arm’s reach of their city of choice, allowing for an easier commute to work or to socialise.
“Of course, this increased demand also helps to stimulate house price growth in these surrounding areas, and while the housing market ripple effect has long been highlighted across the London market, it’s the likes of Manchester, Liverpool and Nottingham that now boast the strongest benefit in this respect.” Why not check out the new buy to let investment calculator tool today!
Manchester & Liverpool Lead Housing Market Growth!
