Tuesday, September 06, 2005

Top property hotspots

Manchester district tops property hotspots
Hilary Osborne
Monday September 5, 2005

First-time buyers looking for a property with potential should head to east Manchester, according to research published today. A study of Britain's 2,800 postcode districts focusing on their desirability and potential return on investment found the district of Openshaw in greater Manchester to be the top hotspot for those looking to get on to the property ladder. Many of the top 10 hotspots produced by Royal Bank of Scotland (RBS) were in the north or Wales, but in the top 20, most areas of the UK were represented.

Researchers for RBS looked at 20 factors they thought would be important to new buyers, including transport links, demographics and recent house price growth. Five factors were deemed to be of key importance, but top of the list was a below average ratio of house prices to local earnings.

The top 10 housing hotspots:
1 Openshaw, Manchester (M11)
2 Middlesborough, Teeside (TS1)
3 Ardwick, Manchester (M12)
4 Falkirk, Scotland (FK1)
5 Ferndale, South Wales (CF43)
6 Kingston-upon-Hull (HU3)
7 Blaenrhondda, South Wales (CF42)
8 Stratford, London (E15)
9 North central Stoke-on-Trent (ST1)
10 Leven, Scotland (KY8)

Check out the RBS web site and study their First Time Buyer Property Index - it's good information for buy to let property investors as well as ftb's.

Chris

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