North Shields edges out Hampstead in property postcode probe
PUBLISHED: 15:41 21 April 2010 | UPDATED: 16:56 07 September 2010
It may not carry the same postcode-kudos as a leafy London suburb but when property experts compared the forecasts of similar specification properties in North Shields and Hampstead, it was the North that came out on top. Results identified by online prop
It may not carry the same postcode-kudos as a leafy London suburb but when property experts compared the forecasts of similar specification properties in North Shields and Hampstead, it was the North that came out on top.
Results identified by online property experts, Do the Sums revealed that over the next five years the property in North Shields, Tyne & Wear was anticipated to gain in value by 29.6% whilst the similar sized property located in trendy Hampstead was expected to drop by -7.3%.
Explained Director of Do the Sums, Jim Marley "Our results are somewhat surprising as they demonstrate that image and historical performance only are not good indicators for future growth and should not be relied on when buying property, if you want to guarantee a good return.
"An area may look attractive and be 'on-trend' now, but our forecasts show that it's not as easy as choosing the area with the hippest bars and coolest cafes when identifying where to spend your property cash. This is why we recommend speaking to experts who can look deeper into facts and figures before recommending a purchase. Even if the area seems to be a safe bet today, will it still be 'the place to be' in five years or more?"
It seems the main influencers on value still depend upon the relationship between supply and demand.
It is likely that property value will be best protected neither in the top priced, nor the bottom priced areas. At the top end, prices usually have nowhere to go and the premium for living there may disappear as fashions change. At the very bottom of the market prices may be cheaper, but the aspirations of many buyers and therefore demand, may lie elsewhere.
Jim and his company provide a forecasting service, which uses the latest and most accurate statistics and figures to predict how a specific property will perform in a five year period.
Said Jim "The homebuyer reports are simple, easy to follow guides produced to help buyers make informed judgements about their potential purchase and how it will perform, taking the gamble out of making an investment.
If you value what this story gives you, please consider supporting the Ham&High. Click the link in the orange box above for details.