Revealed – The UK’s Most Popular Property Hotspots

Looking for a new property investment location that will have potential buyers queuing up at the door when you list your property for sale? Some interesting, new research may help you figure out where in the UK is home to the nation’s property hotspots and where is best to invest your hard-earned cash.

According to the research, the location outside of London that has been crowned the UK’s favourite place to buy is the Welsh city of Swansea. Swansea sits on a five-mile stretch of sandy beach which boasts the coastal village Mumbles that is lauded by many as the ‘best place to live‘ in the country. The beautiful city on the south coast of Wales topped the list for unique searches from house-hunters using the Zoopla website over the past 12 months, with the SA4 area of Swansea, which includes the neighbourhoods of Loughor and Gowerton, proving particularly popular.

Llanelli in Carmarthenshire, also in South Wales, was the second most searched for town on the Zoopla platform, followed by Leicester, Preston then Stoke-on-Trent.

Why South Wales?

A number of different factors are thought to be driving the popularity of South Wales for house-hunters.

With average asking prices of less than £140,000 in Llanelli and less than £175,000 in Swansea, both places not only have house prices that are still relatively affordable, but they are also below the level at which the Land Transaction Tax (LLTT) comes into force in Wales. The current LTT threshold is £180,000 for residential properties and £150,000 for non-residential land and properties.

Swansea, Zoopla’s top property hot-spot outside of London,  is seeing major development in the city centre with several projects to create a world-class leisure and shopping destination already underway. Furthermore, the Kingsway area of the city is currently being developed into a ‘city park’, incorporating new public areas, improved pedestrian walkways, new cycle routes and the creation of a greener, more attractive streetscape. Besides the park, planning has also been granted for a 3,500-seater indoor arena, a digital plaza, a landmark pedestrian bridge and a number of new homes alongside shops, bars, restaurants and more.

This regeneration will also lead to the creation of jobs within the newly-created ‘Kingsway digital village’, comprising workspaces designed for start-ups and small businesses in the technology, ICT and life science sectors.

Laura Howard, consumer expert at Zoopla, added: “This popularity could be partly attributed to the employment opportunities of nearby Swansea combined with having The Gower, an Area of Outstanding Natural Beauty on your doorstep.”

In fact, all of the top 10 most searched for post towns outside of London including Preston, Dumfries and Coventry (see image below) had house prices that were below the national average.

Other towns to make the property hot-spot list

The research from Zoopla also found that living by the sea continues to be popular with UK buyers, with Brighton, Torquay and Margate all making it into the top 20 towns securing the most property searches.

Maidenhead in Berkshire (SL6 being the most popular outcode in the town) was the most expensive place in the top 20, with typical homes costing £567,132, this was followed by Brighton (most popular outcode BN2) with prices averaging £383,658.

Overall, four of the most searched for towns were in South Wales, three were in Scotland, while Kent and Staffordshire accounted for two each.

Top 20 most popular post towns in Great Britain, outside London

Source: Zoopla, November 2019

Property hot-spots in London

Zoopla’s new research has revealed that Hampstead, the beautiful village famed for its cobbled streets, upmarket boutiques and one of London’s best-loved green spaces Hampstead Heath was the most searched for area in London. However, with average prices of around £1.5 million, anyone hoping to purchase a property in the area, which is also home to a number of celebrities, such as Boy George, Harry Styles and James Corden, will need deep pockets.

Wimbledon (most popular outcode SW19) was the second most searched for area, followed by Docklands E14 in third place. Paddington W2, where the average home costs c.£1.2 million, and Fulham SW6, where properties change hands for an average of £1.14 million, were fourth and fifth respectively.

Walthamstow (most popular outcode E17) had the cheapest homes out of the 10 most searched areas in London, with properties there averaging £446,984; Walthamstow was followed by Streatham SW16 with  house prices averaging £500,316.

Many more potential property hotspots are dotted around the country and are easy finds for savvy property investors who do their research. Have you discovered any up and coming areas that you think will top this list in years to come?