UK Housing Market Success Varies by Region

UK Housing Market Success Varies by Region

The housing market carries on in a state of unrest for most areas of the UK. Some regions continue to struggle more than others. And some, like London and Brighton, are not only bucking the trend but taking the lead to a prosperous tomorrow.

Nigel Lewis, of, discussed the possibilities for some postcodes to be thriving while others struggle, saying: "There are many reasons why some postcodes feature a bustling property market. This can include being under priced compared with neighboring areas, which is true in Chorley in Lancashire; attracting people escaping London for a quieter life, for example in Brighton; and economic success in the face of the recession, as with parts of Essex."

Brighton in particular has seen an estimated 5,000 pound increase in average house price. From January of 2010 until the same time this year, average house price went from 215,747 pounds to 220,550 pounds, according to the Land Registry.

London has especially been immune to the troubles dragging the housing market down as a whole. Alex Mackay, managing director at Mishon Mackay, remarked on the London market, saying: "Our figures show that 35 per cent of all our sales in quarter one were to London buyers, double what it was at the same time last year. And although I don't think this is necessarily a trend, we are focused on the London market."

Leicester is another area which has shown surprising figures during the past few months. Nick Owen, estate agent from Spencers, discussed the reasons for the latest success of the area, saying: "We're a little bit forgotten here in Leicester but we've had a lot of infrastructure and regeneration change in the city which has helped the market."

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