How to spot an up and coming area
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Investing in a house or flat in an up-and-coming area is a great strategy if you are looking to benefit from natural house price movements. Finding an appropriate area is never easy, however, there are a few common indicators – often side-effects of investment – that can help shape your decision:
Here are 5 things to look out for to spot up-and-coming areas:
1. Major construction projects
Cranes on the skyline or large commercial developments are great indicators of investment in an area. The more jobs developed in an area the higher the demand for housing, the higher the demand the higher the property value. Speaking to the council about other development projects in an area will further help to work out the investment in an area.
2. Value of the surrounding area
Look at the value of properties in the surrounding area - travelling one or two bus/train stops outside the area will give you an idea of what prices will do following investment.
3. Transport links
Shorter journey times will make areas more attractive to commuters and investment. Developments like cross rail and HS2 are perfect examples of this.
4. Community noticeboard
Local community notice boards are a great way to see whether people enjoy an area. From local festivals to town meetings, having an active community is a great indicator of areas that will attract investment.