Houses
in the North of England can cost a third of the price of the
South. How long it will take people to wake up to this imbalance
in prices and quality of countryside remains to be seen. (Go
North young family?) .
Once run down areas can become very expensive - after the students, artists and
sundry bohemians have made them trendy while they were cheap.
Witness
Notting Hill in London which was basically a slum area in
the sixties, Whitechapel in London which thanks to being colonised
by artists has become very expensive in the last 5 years.
So
watch for where the students artists and sundry bohos are
subsisting. If the area has reasonable artchitecture, a park,
a couple of trendy organic style cafes, then grab a cheap
property fast.
It's
the work of a moment to get a journalist round to do a glossy
piece on how the area is up and coming... and double your
money inside a couple of years. OK that's an exaggeration
but you get the idea...
It
seems however that some places will never break free from
their original image. For example Hackney in London still
struggles to be totally cool despite over 25 years of determined
colonising by the young middle classes -following the same
principles as above.
OK
there certainly are a few hip enclaves but no one who can
afford otherwise says "dahlink let's move our love nest
to Hackney". It's a big area to generalise about but
its problem is, despite an attractive Victoria Park and some
lovely Victorian streets it just doesn't have the overall
look and feel of an attractive place to live
A related point is to note the differences in price
of being just in or just out of a fashionable area.
During
a recession you can buy just outside cheaply. But if you bought
such a property at the height of a boom, when it was at its
top price, you may lose out because of the "shrinkage
effect". (Read more in Don't
overpay for being almost trendy)
And
check out some tricks used by the professionals to get the
most money out of you for the minimum spend in Home
selling tricks
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note, this information is NOT necessarily RELEVANT in Scotland
