Thurrock: A Property Investment Hotspot
As you will know from many of our previous blog posts, we are passionate about sharing our knowledge on property, sharing regular posts packed with property investment advice and guidance.
This includes identifying property investment hotspots; areas with huge potential to make a profit.
In recent weeks, we have read many reports on the lowering of investment activity in Central London, seeing many UK and overseas investors plough their money into areas outside of the city centre.
One area that is proving quite the focus for many is Thurrock. This is because Thurrock has experienced the highest rise in house prices this decade outside of London.
After analysing the Land Registry, it was uncovered that property prices in Thurrock have increased by a huge 78.2% in the past decade, with the average property price going from £156,741 to £276,164. When compared to the average UK property price hike of 38.8%, those who have invested in Thurrock have done rather well!
Joseph Daniels, chief executive of Project Etopia who commissioned research into Thurrock, said:
“The staggering extremes of some of these house price increases this decade, topping 76% in 10 years, means owning a home remains an unachievable dream for many.
“In Three Rivers, for instance, buyers would now need mortgages of close to half a million pounds to buy an average home, leaving many properties out of reach for average earners.
“Healthy appreciation will be welcomed by many homeowners but for the wider country this is a totally unsustainable situation.
Property prices have fallen in just a few areas over the last ten years. These are Blackpool (-7.8%), Redcar and Cleveland (-1.0%) and Hartlepool (-0.4%).
Property investment with The Sandhu Group
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