North becoming the 'new south'
Posted: 17 May 2006 10:06:31 GMT
The north of England has been dubbed the 'new south', as it becomes the preferable option for property investment.
A survey of exhibitors at the forthcoming Property Investor and Homebuyer Show North has found that there is now a great deal of enthusiasm about the northern property market.
An overwhelming 72 per cent of experts said that regeneration and investment in northern cities meant that investors were able to take advantage of increased buy-to-let opportunities.
The basic argument is that house prices are typically cheaper in the north, allowing investors to pay off the investment in a much shorter period of time.
Some of the key factors driving the rise of the northern property markets include the success of the Commonwealth Games in 2002, the BBC's intention to move to Manchester and also the regeneration of Liverpool as it prepares to become the European Capital of Culture in 2008.
Experts are now suggesting that buy-to-let investors and first-time buyers alike are benefiting from the much-improved market.
As the reputation of the north as a property hotspot grows, those looking to sell a house would be well advised to advertise online to appeal to southerners who may otherwise have had limited access to property listings.
Selling a property privately also has the advantage of bypassing the role of the estate agent and saving on commission fees.