Unveiling underrated areas for savvy homebuyers
Homebuying has never been more competitive than it is now, with rising prices and growing populations making the market difficult to navigate. It’s now more important to conduct an efficient search for the best areas for purchasing a home, as finding the best neighbourhoods can help you save money and potentially increase your profits upon reselling.
The allure of bustling cities can be a mouth-watering thought, as many people want to live as close as possible to areas that have a lot of life and activities. However, if you’re a savvy homebuyer you can find places just outside of major cities that offer a much better price range while also being close enough so that you don’t miss out on anything.
We will aim to provide you with insight and knowledge throughout this article on some of the underrated areas for homebuyers. Continue reading for help finding these hidden gem locations that will meet homebuyer expectations.
Underated areas for homebuyers
Manchester
House prices are rising rapidly in Manchester with growing populations and exciting regeneration schemes making the housing market more competitive. Even though it is becoming increasingly expensive to live in Manchester, it’s still an underrated area for savvy homebuyers who are looking to purchase a property that will rise significantly in value in a short period.
Manchester has been named the “first-time buyer capital of Britain”, which makes it the perfect location for experienced buyers looking to make a stamp on the market. There are many areas in Manchester that will offer the best opportunities, such as Levenshulme, Ancoats, Ardwick and New Islington. These types of places have a good selection of eco-friendly properties too.
Bradford
If you’re looking for a cheaper home market then Bradford might be the best location for you. It’s much cheaper than other big cities in the UK, as it offers affordability in a number of aspects with the house market being one of the more appetising prospects. The average house price in the UK is £288,000, but Bradford’s average is much lower at £185,000.
The location plays a big role in why Bradford’s house market is so popular, as it’s relatively close to other cities like Leeds and Manchester. It’s also got a very attractive sports culture with Bradford Bulls and Bradford City AFC being two very popular rugby and football teams.
Leeds
The average home buyer budget in Leeds has climbed by over 16% in the last year, making it one of the best up and coming places to buy a property in the UK. While it’s well-known that London is Europe and the UK’s financial centre, it’s less known that Leeds is the second biggest financial centre in the UK. This makes it a great location for purchasing a home.
Other aspects should be taken into consideration when purchasing a home in Leeds. It has some of the best plant hire solutions in the country, which makes it perfect if you are looking to renovate a home and sell it for a profit.
Sheffield
Sheffield is considered to be a paradise for budget property investors, so it has proven to be a great place for savvy homebuyers. With property prices rising by more than 20% since 2020, it’s a growing industry that should be capitalised on. There are constant dips and rises in prices with Sheffield properties, so it’s important to strike when the time is right which means you might need to have a constant eye on the market.
Sheffield City Centre, Nether Edge, Kelham Island, Hillsborough and Fulwood are some of the best areas in the city to purchase a home, as they will offer the best prices for what they offer. Whether you plan to stay in the home for a long period or use it as an investment, it can be a great location to buy in.
Luton
Due to its close proximity to London, Luton is a popular commuter town and a favourite among real estate investors. It’s much cheaper than London while having a very similar level of multicultural communities that make it a great place to live. Luton has large-scale regeneration plans and many developments, including the Power Court development, which is expected to boost the local economy.
Bushmead and Barton Hills are two of Luton’s most desirable neighbourhoods, known for their modern development, scenic views and family-friendly environments. If you’re looking to buy a home in Luton, these two places are highly recommended but make sure to avoid real estate scams when purchasing close to London.
Sunderland
With Newcastle being such a popular destination to live, Sunderland slips under the radar and becomes a highly underrated area for homebuyers. It’s an excellent choice for property investors, as it has lower prices and higher yields than key market alternatives. It’s a prime growth location, with strong demand from a mixed economy and excellent transport links to Scotland and North England.
Between 2022 and 2023, the average price of properties in the area was £164,975, with semi-detached properties accounting for the majority of sales at an average of £169,537. This is way below the UK average, so it’s perfect for homebuyers on a budget.