A report on property prices in Britain has been published recently and Derbyshire’s very own Belper has been named as Britain's property hotspot of 2017 with house prices rising by 7.43% since January of 2017.
This is in stark contrast with the rest of Britain with house prices rising by just 1.1% since January 2017.
So why is Belper so popular? The town is situated in Derbyshire on the River Derwent and boasts a rich industrial history. Belper was one of the first mill towns and now forms part of the Derwent Valley Mills World Heritage Site. Aside from the town’s industrial past, it boasts beautiful River Gardens with a waterfall and stream that attracts tourists from all over Britain. Combined with the numerous boutique cafes and shops, good transport links and a mix of property types, Belper is popular destination to both live and visit.
The town also has a strong sense of community evidenced recently by hundreds of residents chipping in to buy a local pub that was under threat of demolition by developers.
Elsewhere in Britain house prices have fallen by as much as 5.34% since January but the best performing regions in Britain are the West Midlands, where house prices have increased by 2.6% since the beginning of the year.
The average cost of a home in Britain is now £304,469, an increase of £3,039 since the beginning of the year compared with a rise of £13,851 during the same period last year.
According to the report, house prices in London have plateaued with just a 0.5% increase over the past 6 months.
It was predicted that due to political uncertainty and wages falling behind inflation that there would be a dramatic downturn in property values but that has not yet come to pass, although the rate of growth has slowed. Homeowners may not be too thrilled with the slowdown but it does present an opportunity for those looking to get a foot on the property ladder by the end of the year.
If you are looking to buy or sell a property (in Belper or elsewhere!) Timms will be more than happy to help. Feel free to give us a call on freephone 0800 011 6666.
To read the full article on the rise of house prices click here
