Recent figures from A-Plan Insurance highlighted the best property hot spots for price growth over the past ten years. The data showed that nine of the ten top areas for house price rises in the UK were in London.

East and South East London led the field, with Waltham Forest seeing price growth of 126% since 2011. It was followed by Hackney, with price rises of 105%, then Barking and Dagenham, at 96%. Newham, Bexley and Greenwich also made the top ten.

While it’s interesting to see the rises of the past, those currently investing in the property market are understandably more interested in identifying the hotspots of the future. According to Fabrik Invest, this is why it’s time to look North.

Savills certainly puts the North at the top of the table when it comes to projected price rises for the next five years. From 2021 to 2025, the company forecasts that the North West will see house prices go up by the UK-leading rate of 28.8%, followed by Yorkshire and the Humber at 28.2%. That’s compared to a forecast UK average rise of 21.1%. Meanwhile London, the South East, the South West and the East of England are projected to see prices rise over the same period by between a notably below average range of 12.6% to 18.7%.

So, what is driving this northern boom? As ever, a range of factors are at play. Extensive redevelopment work across cities such as Manchester, Liverpool and Preston is doing much to push prices up, with new spaces to live, work and play attracting owner occupiers and investors alike.

The pandemic is playing its part too, with many workers embracing the opportunity to leave the office behind and embrace all that working from home offers – including the opportunity to live wherever they choose. With average prices in the North so much lower than in the South, many families have taken the chance to rethink their reasons for their current location. Hometrack’s April 2021 UK House Price Index shows that the average house price in London is £489,300. In Manchester, meanwhile, the average home costs just £187,100. In Birmingham, it’s £178,500. Rents are equally imbalanced, meaning that both buyers and renters are heading to the North, with investors scrambling to serve the latter.