Credit: Onthemarket.com
Bradford Tops Hotspot Index for Second Consecutive Quarter
Cardwells Estate Agents a prominent player in the property market, highlights the latest findings from the OnTheMarket Hotspots Index, which indicate that affordability continues to drive property buying decisions. The Index, covering the second quarter of this year, showcases the most active and attractive areas for buyers seeking value for money.
Bradford has once again emerged as the top investment hotspot in the country, maintaining its lead for the second consecutive quarter. This northern city benefits from buyers being priced out of nearby Leeds and looking for more affordable alternatives. Following Bradford, Blackpool climbed to the second spot from fifth place in the previous quarter, while Rochdale made a significant leap from 23rd to third place.
Plymouth, the sole southern location in the top five, also saw a notable rise, moving from 22nd to fourth place. Leicester entered the top five for the first time, up from ninth place in the first quarter. The overall trend shows a persistent north/south divide, with northern regions continuing to attract more housing market activity due to their vibrant and cost-effective locations.
Rochdale’s Rise and Market Dynamics
Andrew Cardwell, managing director at Cardwell’s Estate Agents in the North West, commented on Rochdale’s impressive jump: “Rochdale’s rise of 20 spots to third place is noteworthy but not unexpected. Along with other Greater Manchester towns like Bolton and Bury, Rochdale has recently performed well. Earlier this year, Rochdale was recognised as one of the most affordable places to buy property, with an average house price of around £206,000. It offers excellent value for money, is easily accessible from Manchester city centre, and boasts beautiful countryside.”
He added, “The pandemic has significantly altered working habits, with remote working becoming more prominent. This shift allows people to consider properties further from city centres, focusing on areas that offer good value, scenic beauty, and housing options that may not be available or affordable in central locations.”
The OnTheMarket Index underscores the enduring appeal of northern locations for property investors, with affordability and the trend towards remote working playing key roles in shaping buyer preferences. Other notable movers in the Index include Wakefield, which jumped from 30th to ninth place, while Birmingham saw a rise from 23rd to 43rd. Conversely, Wigan dropped from second to 15th place, and Liverpool fell from 11th to 30th. Worthing, a southern hotspot, plummeted from 20th to 53rd place, making Brighton the ‘coolest’ hotspot on the list.
In London, changes were less dramatic. Newham entered the top five for the first time, moving from 10th to fifth place. Hounslow, however, dropped from fourth to ninth, and boroughs like Lambeth, Southwark, and Merton all saw a decrease of four places.
