The hunt for new build hot spots in UK is a never-ending race. However, identifying a growing area ahead of the curve is not an easy task. The arrival of a new shopping complex, a posh restaurant or a new housing development is not always a great indicator of future success. Similarly, gentrification of low-value neighbourhoods can just as often fall flat, burdened by the weight of social costs. So what should individual homeowners or investors look out for?
Simple. Keep an eye out for property developers or we buy any house companies, especially larger ones. With massive financial muscle, developers are not only capable of developing large-scale projects, but these projects are also frequently accompanied by new access roads, improved infrastructure and strategic commercial rezoning - which will all instantly translate to rising property values.
One of UK's largest property websites, Zoopla, conducted a comprehensive market analysis in July 2017 to find the most thriving new build locations in the country. We'll take a look at their top five hottest build spots.
- 1. Belper, Derbyshire
The rustic civil parish of Belper of Amber Valley in Derbyshire tops the list with a 7.43 percent year-on-year increase in property prices.
- 2. Hove, East Sussex
With a population of just a little over 72 thousand, Hove comes in second on the list with a 7.07 percent increase.
- 3. Todmorden, West Yorkshire
Considering that Todmorden is located just an hour north of Old Trafford, it was only a matter of time before the parish becomes a hot spot - especially considering that the town was the home of two Noble Prize-winning scientists - with a 6.66 percent increase.
- 4. Woodbridge, Suffolk
Woodbridge, the site of Queen Boadicca's failed uprising against the Romans almost two thousand years ago, comes in fourth on the list with a 6.59 percent increase. The harbour town is also known for an active sporting community, which perhaps explain why Roy Keane decided to retire there.
- 5. Sudbury, Suffolk
Located about 34 miles west of Woodbridge, Sudbury boasts of one of the oldest regattas in the world, dating all the way back to 1874. During its heyday, Sudbury was a busy port town. However, today, the town is more known for its quiet and quaint neighbourhoods with a growing number of young professionals - which probably contributed to the 6.56 percent rise in property value.