Liquid error: wrong number of arguments (2 for 1) No place like London? Top regional property markets on the move | Marsh & Parsons Sales and Lettings Estate Agents London

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No place like London? Top regional property markets on the move

Wed 05 Mar 2014

No place like London? Top regional property markets on the move

There's no place like London, as the old song goes. Indeed, the UK capital city's property market has raced ahead

of the rest of the UK, with climbing house prices and shrinking supply causing house prices to soar. The number

of properties for sale fell 6.7 per cent in November 2013 month-on-month, according to figures from haart. As a

result, climbing demand pushed the average price up to 423,376, the estate agent's figures show, a leap of 12.5

per cent in the past year.

That growth is predicted to keep going by agents, with Marsh & Parsons forecasting a price rise of between 5 and

7 per cent in 2014.

Nonetheless, as recovery spreads across the country, there are other cities giving the capital a run for its real

estate money.

TheMoveChannel.com looks at the number of searches for UK locations on the portal and profiles some of the

regional property markets on the move.

Southampton

London may be the number one destination for prime real estate buyers, but for landlords looking for rental

yields, other cities are more profitable. At the top of the list, according to HSBC? Southampton.

The lender's report compared returns available across the UK, finding Southampton's market to be the most

favourable for buy-to-let investors thanks to low property values and a strong tenant demand: indeed, the private

rented sector makes up almost one-quarter of the city's property supply, generating yields of 7.82 per cent.

Hull

Hull ranked third in HSBC's buy-to-let index, but also came second in a report by Zoopla analysing the UK's

student property sector, emphasising the appeal of regional markets for investors. Indeed, student property is one

of the most popular types of real estate on TheMoveChannel.com, with the majority of demand for cities such as

Sheffield or Sunderland than the capital. Hull's student housing offers yields of 4.8 per cent, just before Glasgow's

chart-topping 4.95 per cent - and far ahead of London, which ranked in 10 place with returns of 4.2 per cent.

Birmingham

The UK's second city, Birmingham has had a rough reputation over the years but remains a popular market

among buyers and investors, particularly for those in the commercial property sector. Indeed, regional cities have

seen strong improvement in their hotel sectors this year, with more growth predicted by PricewaterhouseCoopers:

Birmingham leads the way for the number of new hotel rooms opening in the coming years, ahead of Manchester,

Glasgow and Edinburgh, as high occupancy rates and improving conditions support favourable revenues per

available room at relatively affordable entry costs.

Manchester

Manchester has long fought against Birmingham to win the title of the UK's second city, with both markets ranking

well for student, buy-to-let and hotel investments and enjoying similar levels of interest on

TheMoveChannel.com. In the office sector, though, Manchester has the edge. At the beginning of 2013, CBRE

predicted the city would regional growth thanks to improving employment figures and growing rents. The firm

later confirmed that the city had seen office take-up soar 25per cent in the first half of the year, as business,

consumer and professional services drive up demand.

Glasgow

Edinburgh is the centre of attention for many house hunters, but Glasgow is also in the top five most popular

Scottish locations on TheMoveChannel.com. Its hotel sector has seen occupancy rates jump to 74 per cent in the

first half of 2013 and its average daily rate rise too, according to PwC's UK hotels forecast. With another five

hotels on the way for next year, when the city hosts the 2014 Commonwealth Games, Glasgow's popularity and

investment potential are only set to increase even further.

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