Can Drop in Property Prices in These Areas Be The Real Opportunity?

In recent years many investors have been looking for opportunities in the North.

Based on the UK House Price Index, February 2020, the average property prices in the North West and Yorkshire and the Humber are circa £163,000. In comparison, the national average of the UK is £230,332. No wonder investing in the property in the North tends to attract investors from across the UK.

Unfortunately, the developments of Covid-19 did hit the property market hard. With the government trying to fight the pandemic, the usual “spring selling” seems to be falling out of bed. The pandemic has affected the property market more in some areas than others where the property prices started dropping.

While this can be bad news for property owners looking to sell, it could open new opportunities for property investors. If you are an investor shifting your focus towards the North, we are going to reveal you the locations where you could potentially find your next investment opportunity.

Based on the most recent analysis, ten locations stand out showing property price decline based on current market listings compared to the listings 12 months ago.

In Stockbridge Village, Liverpool and Bradford the property listing prices have dropped over 20% and reaching the lows of 30% compared with the open market prices 12 months ago. A 30% drop off the listing price of £200,000 it could knock off a whopping £60,000! Therefore, it seems to be an excellent time to get into a due diligence mode not to miss out potential opportunities.

Property Listing Price Drop in Liverpool, L28

While the research by Savills predicted the fall of property prices between 5% and 10%, it seems that based on the current market movements the areas in the North show a price drop ranging between 10% and 18%.

West Yorkshire falls into that category covering the areas of Leeds, Bradford, Huddersfield, Wakefield, Boston Spa and Wetherby and is a top location to keep an eye out! West Yorkshire that has experienced a significant increase in population in the last 5 years and being at the heart of the northern powerhouse initiative, has a lot of future potential in the housing market.

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Previous Property Price Growth Boston Spa vs Declining trend in Boston Spa

House Price Trend in Wakefield

House Price Trend in Leeds

Warrington and Blackburn are also places worth looking into for property investors. Whilst major cities, such as Leeds, Manchester and Liverpool tend to remain in high demand from investors, the towns such as Warrington and Blackburn are fast in making the names for themselves and showing their potential with high yields and capital growth.

In summary, while the property market has been hit hard by the pandemic and the housing market seems to be declining, it does reveal potential opportunities not to be missed!

Few questions for property sourcers and property investors:

- Did you want to find and close more deals?

- Are you also jumping around from Zoopla to Rightmove wasting tons of hours or pay someone to do that?

- Are you wasting too much time to package a professional report for your clients?

Let the machine work for you! Get more out of Abricko! Do your own analysis! Source 10 times more properties deals and package them in a click in your white-label report.

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