Do you wonder how everyone else knew about that trendy area before you? Fear not, it is not a secret shared only by a select few. There are still many up-and-coming locations out there to be had; you just need to know how to find them. Follow our top tips for bagging your very own property hotspot.
What is a property hotspot?
The best locations are in areas that are experiencing positive growth while remaining relatively undiscovered. This gives you the opportunity to buy a home at a low price. As the area matures, so does that value of your home.
Timing is crucial
If your high street already has designer shops and fancy restraunts then it’s already a property hotspot. Keep your eyes peeled for areas yet to see this level of growth. Try to only invest when the area is about to become popular in order to see maximum return on your investment.
What you need to look out for
Transport links: Access in and out of any area is key. Rail, tube lines, motorways and airports are all desirable for today’s commuters and frequent flyers. As well as offering a service they also provide industries for workers that will need somewhere to live.
Education: More families than ever choose homes based on potential schools for their children. Schools which have good Ofsted reports see families flocking. If you spot a school which has transformed itself from poor to excellent then be sure to take note.
Retail: It’s about posh nosh and cool clothes. If the high street you are looking at only has one old kebab shop and a pound store then it will never be overly appealing. Names to watch out for are Pizza Express, House of Fraser, Waitrose and Starbucks.
New homes: If a developer is planning to build a row of fancy new flats then they have obviously spotted the potential. Research planning applications for new homes via local councils and websites.
By following our top tips you can spot a property hotspot, before anyone else.