The housing index and property values in the North have remained relatively stable and high, even in the face of the ongoing global crisis. Data from the latest estimated in April indicate that the index in the country stands at 131.5 with an average house price of 250 000 pounds. Despite a significant slump of 1.9% in the current estimates, the year-to-year change manifested a considerable rise in the country’s general numbers and state.

The North leads among these changes with a rise of 16.9%. However, on evaluation, not other locality across the country experienced double-digit figure changes in growth. Below is an outline of regional data on the monthly price growth across various parts of the country.

Region                                                                                    Monthly Price Rise

East of England                                                                      0.3%

Yorkshire                                                                                3.7%

North East                                                                               16.9%

London                                                                                   3.3%

UK House Price Index

The regions in the North, including the east, west, West Midlands, Yorkshire, and Humber, experienced double-digit growth in the annual change. Unsurprisingly, these are the regions that are experiencing the most significant monthly change during the same period. Thus, the data signifies a high potential for both growth and change within this region of the country. Subsequently, it also points to the increased prospects of further expansion and development based on the existing variables now experienced as a dominant feature in the housing market.

The market in the North is also one of the most promising because there are high rates of vacancies in the region. The market is potentially promising as a buy to let market because most of these properties fall within the commercial space. If some entities and individuals are interested in investing in this market, this is a vantage opportunity to establish and scale their growth potential across the broader market. The market in the North may have experienced a slump in demand due to economic decline. There is a potential to capitalize on this dropping market and spur growth.

As the pandemic continues to subside, there is a greater vantage opportunity to scale this potential and enhance the overall space that the interested entities would earn within this market. Here is an illustration of the market decline and rate of possessions across the market, indicating the high levels in the North.

Repossession sales                                                     February 2021

East Midlands                                                             8

East of England                                                          5

London                                                                       18

North East                                                                   23

North West                                                                  30

South East                                                                   20

South West                                                                  7

West Midlands                                                            10

Yorkshire and the Humber                                         17

England                                                                       138

Average price by property in England. UK House Price Index for April 2021, Gov.uk

There are different types of properties in the market that include flats, terraced and semi-detached, which are among the lowest in the effective pricing within the country. The average price for the purchase is lowest for first-time buyers at about 225,000 pounds. Additionally, there are other options that buyers would also explore, including cash, mortgage, and buying from an existing owner who is also the occupier of a property. The property prices and funding sources will tend to differ based on the region and locality. However, users will have access to a broad set of options that are available within the market.

Ultimately, conservative estimates project that the property market in the country is bound to continue with the ongoing boom into the coming years. A forecast from Guardian estimates that the property market in the country will take a 46% leap in the coming year. The office of national Statics has already elicited immense influence from these changes through an annual growth rate and rebound through the years. As a result, the value of the property market continued to rise, and the year ahead will remain busy with immense activity and growth.  Subsequently, this latest data provides a tremendous opportunity in the ‘race for space’ to acquire property and establish investments across various regions in the North