Report lists 'house price recovery hotspots'

Posted: 13 Feb 2009 09:35:04 GMT

Brighton, Hove, Manchester and Islington are among the places likely to see the most notable house price increases over the foreseeable future as strong buyer demand helps local markets to recover.

That is according to a new report from the Times newspaper, which puts forward the 'Ten towns where house prices will bounce back first'.

Taking on board statistics published by Nationwide and Rightmove, alongside figures from local estate agents, the new report suggests that house prices in London and the south-east of England will start to pick up first, with upmarket and popular destinations to benefit the most.

Croydon, Chelmsford, Nottingham, Leicester and Southend-on-Sea are also mentioned as potential property hotspots for buyers looking to land a bargain before the market picks up again, with estate agents in some of these places having dropped their original asking prices by as much as 30 per cent since the start of the credit crunch.

Earlier this month, Halifax reported that house prices have already started to pick up again, with the average cost of a property in the UK rising by 1.9 per cent between December and January.

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