With government plans to ‘level up’ across many areas in the UK, the property market could see an increase in values of £60bn.
This comes from the latest research by the developer StripeHomes.
The funds are targeted at regeneration projects to transform local areas, improving housing and infrastructure.
Up to 100 areas across the UK could benefit from these projects.
Levelling up to £60bn?
The estimations are based on the current housing stock and values across these areas. StripeHomes estimate that home values in regeneration areas could see an increase in value of £8000. Whilst this is only a modest increase for a homeowner it would come on top of a general trend of rising prices.
Across all the areas this could add up to £60bn to the UK property market. This could present some great opportunities for Sourcing Investments Sourcing Agents and Investors.
The areas set to see the biggest boosts are already in some of the highest yielding zones in the UK.
The top 5 areas are;
- Yorkshire + £9bn
- East Midlands + £8.5bn
- Scotland + £7bn
- North West England + £6.5bn
- West Midlands + £6.5bn
James Forrester, the managing director of StripeHomes: “Any level of regeneration will always have a positive impact on the surrounding property market and on average, house prices tend to climb by around 3.6%.”
“And while this may sound like a modest increase for the individual homeowner, it’s a pretty staggering boost to the market when you consider the overall impact.”
“Of course, we will need to see just what the government delivers on and where when it comes to their plans to level up the UK, but it’s safe to say that the areas that are due to benefit should see a healthy uplift in property market values.”
Opportunities for Investors and Sourcers
Chris Dowty, CEO of Sourcing Investments said: “We have seen incredible resilience in the UK property market. Even with the events of the past couple of years, we’ve seen growth in values of up to 10% across the North of England and even the tough London market has returned to growth.”
“If we see the planned regeneration projects across the UK, it will boost market confidence even further, generate growth and provide amazing off-market opportunities for sourcers and investors.”
“And as a company, we’re not standing still either. We have some exciting plans and announcements coming up this year for both sourcers and investors. All I can say is, watch this space!”
Don’t miss out on these opportunities
Whether you are a sourcer or an investor, there are some great opportunities in the UK Property Market. And our platform is designed to help you take advantage of them. If you’re an investor, register on the platform here and take a look at the latest off-market properties from our professional sourcers. If you source properties, take a look at how you can get those in front of the right investor as well as take care of all your legal obligations by clicking here.
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