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SAVILLS - MAINSTREAM CAPITAL VALUE FORECAST 2024 - 2028
NORTH EAST ON TOP!
We have seen a good increase in property prices since we started selling these properties back in 2018 for an average of £35k each, since then the average price for the same properties increased to £58k by the end of 2023. The reason for the great price increases is that the council have been focussing on regeneration in these areas and a lot of investment has been put into transport links such as road infastructure and opening new train stations (one opened up in 2020 in Hordan which is 2 miles away from Easington). Also new companies such as Amazon have moved into the area and the government have created a new Northern Economic Campus in County Durham moving the treasury and other departments into the area creating hundreds of new jobs. With the prices still so reasonable, there is still a lot more room for price growth, unlike many other areas in the UK which have maxed out their affordability, so with levelling up still in full swing, and the draw of impressive rental yields for investors, we expect to see more price increases going forward.
