Transport: better links are helping to boost house prices in some towns
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Halifax's housing hotspots
Wednesday, 02 Jan 2008 11:28
The housing market might look bleak but anyone with a home or mortgage in Lochgelly, Paisley or Greenock could be looking at making gains in 2008.
That is according to Halifax Estate Agents which has placed the Scottish towns among the top ten UK places it expects to see the highest house price growth this year.
Hackney in East London is also expected to be one of the top house prices performers in 2008 as it benefits from redevelopment as an Olympic venue.
Areas of Kent such as Chatham and Dartford could see "record significant house price increases" driven by new and planned transport links from central London, said Halifax.
And redevelopment in Liverpool means the city will see outperforming house prices in 2008 too, according to Halifax's predictions which also forecast Pontypool in Wales to be a hotspot.
But it is the Scottish towns which dominate list and Halifax believes the areas' higher than average house prices and good transport links to Glasgow and Edinburgh contribute to their potential for growth in 2008.
The strength of the local economy in Aberdeen, which has become one of the world's major oil centres, means the area is set to see continued price growth this year too.
Colin Kemp, managing director of Halifax Estate Agents, said despite the "subdued outlook" across the market, some areas would continue to be in high demand and would see property prices rising accordingly.
He added: "Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transport links to a major conurbation and relatively low average prices.
"A number of areas will see a boost to prices as a result of significant infrastructure projects."
According to Halifax, Montrose in Scotland saw the highest house price growth in 2007, recording a 39 per cent rise. Winchester in south-east England saw a 38 per cent rise and Billericay in Essex saw a 35 per cent rise, landing second and third places in the list respectively.