Southampton, the largest city on the south coast, is proving a catch for young families looking to move into the region, in spite of witnessing strong price growth.
Over the last fifteen years, the city has faced considerable regeneration and development, boasting new and vibrant waterfront developments which have attracted a number of buyers and investors from across the south east.
However, despite its increasing popularity, prices in Southampton have remained highly competitive compared with the surrounding areas such as Winchester and Fareham. As a result, families moving to the area now will capitalise on the competitive prices currently still found here.
David Bexon, Managing Director, email4property comments: “Despite the considerable investment in the city, Southampton prices have remained competitive and as a result the area is appealing to a wide range of home buyers currently looking to for a home in the south east.”
“The city is now experiencing an influx of young families who are looking to take their second step on the housing ladder with areas to the west, such as Upper Shirley, proving hot spots. As a result, terraced and semi detached homes have received a surge of interest from buyers – reflected in their strong price growth in 2006, with average prices up 5.6% and 7.7% respectively”
“Good schools, communications by road and rail and a vibrant entertainment scene have put Southampton firmly on the map. An influx of new apartments in the city centre, following the conversion of thousands of the city’s disused office blocks, has attracted considerable attention from investors who have fuelled the current buy-to-let market.”
“However, this area of the market could become saturated and as a result, we have seen a decline in average prices for apartments over the last year.”