X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Cheltenham saw the greatest rise in property prices in July recording a 2%increase, according to property research company Hometrack. Its Augustsurvey of UK cities showed the average property price in Cheltenham, bestknown for its racecourse and schools, costing £163,282 (239,000). The only other UKcities to experience rises in excess of 1% were Exeter (1.7%), Brighton(1.36%), Birmingham (1.21%), Milton Keynes (1.09%) and Cambridge (1.04%).

The most expensive city in the country remains Guildford, with propertyprices averaging £230,751 ($340,000) although down 0.18% on June figures. Winchesterwas the second most expensive centre, with homes averaging £230,071, ($339,000) withLondon in third place with £202,300 ($295,000) ,up 0.4% on June. The North continuesto offer best value for money, with properties averaging £41,115 ($60,000) inLiverpool, £42,492 ($62,000) in Hull, £49,136 ($71,750) in Blackpool, £52,012 ($76,000) in Middlesboroughand £52,458 ($76,500) in Bradford.

John Wriglesworth, hometrack¹s housing economist, said ‘Inward blue chipinvestment and efficient communications networks, attracting key workers,seem to be the key factors maintaining property price growth. Cheltenhamattracts new buyers to the area with its high standard of education andgreat communications, whilst growing numbers of young professionals areabandoning the capital for a better quality of life in Brighton. Similarly,the regeneration of Birmingham city centre, and its reliable train service,and the prominence of high tech business parks and green field residentialsites around Cambridge, continue to put upward pressure on prices. Northerncities continue to be most affordable although not necessarily the bestinvestment as, in July, several experienced negative growth.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.