The inflation can be analyzed from the fact that the two-bedroom flat that was of £210,000 in January rose to £249,000 in February.
Investment in South UK
Same is true for Winchester in Hampshire which is considered the second least affordable place. According to James Scott-Lee who is the managing director of estate agency chancellors, the cost of the land in not just Oxford City or Winchester but whole of South has increased from £340,864 to 11 times of local salary. The reasons that are put forward for rise in rents are mostly related to the supply of the land because mostly the area is covered with green belt, ring road. The presence of two massive universities and the emerging bio tech industry in the area as increased its cost. If you really wish to have investment property for sale in UK’s South part then Cambridge and Southampton are much cheaper as compared to other places.
Investment in North UK
Coming over to the northern place, the investors would be shocked to see the gulf between the prices of south and northern estates. According to Lloyd bank the fifteen top affordable places in north include Scotland, northern island or Wales. New York and Leicester are the two cities that are expensive though even being not part of south but the recent trends have shown that their prices have also got cheaper as compared to the rates they had in 2009.
The price differences
Sterling and Londonderry have topped the charts with the most affordable estates in UK. Even the three bedroom flat is being sold for under £150,000 and whereas the grand villas that are listed cost around only £400,000 or less. To make you even more aware of the differences between the prices, it’s astounding that nine room mansion which spread over 6000 square feet can be bought in only £85,000. Salford, Glasgow and Durham are the places that are much expensive though and one may require 4 to 4.5 multiple of the local salary to buy an estate there.
Least affordable places
It really is a hard luck for investors who want to have an investment property for sale in UK’s southern part because even now the people who have born in Oxford can buy the place for themselves to live. The Northern side has safely attracted the investors of middle class and they are investing mostly in Brize Nortorn and Bicester.
But despite all the trend analysis or scenario analysis the human is incapable of telling the exact shifts even in economic factors. It can be a matter of time when the rents in North increase then those in South.