Locations expected to rise by more than 20 per cent over the next five years
New research from Savills has revealed where the next wave of house price rises will come due to increased demand, and the majority are in the ever-expanding outer commuter belt. House prices increases of 20% or more are expected.
“London has so substantially overperformed since the recession that the price gaps between the capital and the South East are bigger than ever. People who are looking for more space without unduly stretching themselves on their mortgage are searching further afield,” says Lucian Cook, head of residential research for Savills.
Savills looked at how each local authority performed in three periods 1995 – 2000, 2000 – 2005 and 2005 – 2015 and ranked them according to whether they lead or lagged in these periods.
Then the research team stripped out the markets that did conform to the leaders and laggers model and divided the rest into 10 equal groups.
31 Property Hotspots
|Location||Ave Price||House price growth 2005-15|
|Bromley, Greater London||£443,767||63%|
|Tunbridge Wells, Kent||£404,464||39%|
|Basingstoke and Deane, Hampshire||£292,678||31%|
|Horsham, West Sussex||£375,412||35%|
|Three Rivers, Hertfordshire||£504,672||51%|
|Surrey Heath, Surrey||£406,069||40%|
|Sutton, Greater London||£360,968||53%|
|Hillingdon, Greater London||£398,754||57%|
|Watford, Greater London||£336,479||47%|
|Croydon, Greater London||£343,578||53%|
|Reigate and Banstead, Surrey||£424,914||42%|
|Enfield, Greater London||£393,274||56%|
|Adur, West Sussex||£288,638||45%|
|Crawley, West Sussex||£261,185||36%|
|Harrow, Greater London||£464,990||59%|