The price of real estate outside the UK's capital is growing quickly in major cities, new research has shown. According to a survey carried out by PrimeLocation.com, destinations such as Sheffield, Bristol, Greater Manchester and Cardiff all saw property values rise more than those in London during the first half of this year.
Between January and June, real estate prices in the capital grew by 2.7 per cent, while Sheffield topped the table with increases of 10.6 per cent in the same period. Bristol, Cardiff, Greater Manchester and Birmingham also experienced gains of more than seven per cent during the six month timeframe. Property analyst for the website Nigel Lewis commented: "Set against a maelstrom of bad economic news, the prime property market in the UK has held steady during the first half of 2011."
Founding partner of Platinum Portfolio Builder Nick Carlile noted earlier this month that investors who want to build up a collection of real estate assets quickly would benefit from targeting the north of England, because houses here are more affordable than in London and in some cases can also offer better returns than dwellings in the capital.
- Thursday 01 September 2011