Developers flooding back to the market

Since the economy started to turn around 2013, property developers have started to come back to the UK’s big regional cities, writes Richard Carr.

Northern Powerhouses

Richard Carr image of Leeds

Northern cities have experienced an increase in commercial property investment

Property developer Richard Carr recently wrote about the rise in office rent seen in northern cities Manchester and Leeds and there is more good news for the cities as the FT reports that more than £1bn of property investment has been bumped into the cities over the summer.

In consecutive months during the summer of 2015, Leeds’ local economy was boosted by property investment. Heeton Holdings, a Singapore fund, made its first UK investment outside of London in the Yorkshire city.

In August, Insurance Group Legal & General, invested £162m in project to build a neighbourhood on the edge of the city.

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The North vs South house price battle

For six years, the south of the country has seen house prices increase at a greater rate than the north, however this year housing analysts are predicting that this trend could be about to change.

London set to see a fall

North vs South Property Prices

London property prices are slowing down

The Guardian reported this week that house values in the capital are set to fall by 3.6% following “years of over-performance”. The Centre of Economics and Business Research (CEBR), who produced the research, also said that house prices across the country will generally rise by 1.5%. It is the first time in six years that prices countrywide have risen faster than London.

As expected, the London market is being hit by the upcoming election with factors such as Labour’s proposed ‘Mansion Tax’ putting buyers off investing until after the outcome.

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