NE UK Property Prices Have Soared During the Coronavirus Pandemic

We had property investors from Hong Kong back out of properties during the covid pandemic. Boy did they make a mistake. The GBP increased dramatically and property prices have soared in the NE of England.

House prices have increased the most in the Redcar and Cleveland area of Teesside.

The price of homes on Teesside have soared during the coronavirus outbreak.

Properties in the area are now worth up to £17,000 more than at the start of the pandemic.

Redcar and Cleveland has seen prices rocket by the most locally in the past year.

In March last year, the average house price in the area was £122,267.

By March 2021, house prices had jumped by 13.7% – or £16,772 – to £139,039.

In other parts of Teesside, prices have also soared.

In Hartlepool, the average prices of homes rose to to £120,141 by the end of March.

This was up £11,503 – 10.6%.

Today we still have Hong Kong investors who only want Manchester. When we started investing in Manchester in Salford in 2014. No one wanted Salford. Now prices have doubled and then some. We feel the best place for our money is the NE of England and more so with social housing on long govt backed contracts with no voids, no managment and maintenance covered unless structural.

 

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