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_The five areas across the UK poised for future price growth

Knight Frank’s Residential Research team select five areas across the UK and explain why they have the potential for price growth in coming years. 
September 18, 2017

Oxford 

City living 

Oxford’s reputation may revolve around its prestigious university, but the city’s property market has also been leading the way in recent years. Home to a family-friendly mix of good schools, good infrastructure and a metropolitan atmosphere, the city has comfortably outperformed surrounding markets in the years since the credit crunch in terms of price growth.

Infrastructure improvements are also playing a key role, with the new rail link at Oxford Parkway, which opened in October 2015, driving interest in markets to the north of the city. Commuters can be in London Marylebone in under an hour during the week, while at the weekend benefit from all Oxford and the surrounding countryside has to offer. 

Above: Oxford’s commercial high street

Harrogate

Long distance commuting 

The concept of commuting during the week is nothing new, but improvements to technology and the rise of home working over the past decade means long distance commuting is now a realistic option.

While Harrogate may still be considered a train stop too far for some, for those looking to strike a balance between city and country living, this is the place to be. Situated on the edge of the Yorkshire Dales, with the Vale of York to the east, the town has an abundance of first rate schools, restaurants and shopping. With prices between £300 and £400 per square foot, Harrogate is also better value than many prime southern markets. 

North Cornwall

Coastal demand 

One market which has been outperforming in terms of pricing, yet for now remains relatively undervalued compared with more established prime waterfront hotspots nearby, such as Padstow and Rock, is the area around Newquay Airport. If North Yorkshire is thought to offer a long-distance commuting option to London, this location takes the concept further.

The number of mid-week boarders flying out of Newquay to Gatwick is rising steadily year-on-year, and for those looking for prime properties within a short drive of the airport, Mawgan Porth is a real target. The combination of landscape, weather, surfing, good schools and an established local community is a winning formula. 

Above: Port Isaac in North Cornwall

Cobham

Corporate demand 

Deamnd from staff relocating for work, especially in the financial services sector or for one of the blue chip companies based in the Thames Valley has historically formed a large part of the market in Cobham. 

Corporate budgets may not be as large as they once were, but there remains a steady flow of both international and domestic demand, particularly from the tech and oil and gas sectors.  The exceptional quality of nearby schools, which include the ACS International School in Cobham amongst a high volume of other private schools, plays a major role in the area’s attraction.

Above: Tor Lane, Weybridge. For sale through Knight Frank

Weybridge

Home Counties opportunity 

Situated just south of Kingston-Upon- Thames and to the east of Richmond- Upon-Thames, Weybridge is one of the first ports of call for those making the first step out of London. Regular trains take just 30 minutes to London Waterloo. The relevance of the ‘value gap’ between the two markets can’t be downplayed and the opportunity to upsize to one of the large Victorian or Edwardian homes surrounding the high street remains a key factor underpinning demand from Londoners.

Those with bigger budgets can take their pick of larger properties on Weybridge’s many private roads. While the difference between prime property prices in London and markets outside has narrowed over the last 12 months, it still remains significant and Weybridge is well positioned to benefit.

Our country residential team has amassed years of experience advising on some of the countries most sought-after properties and is on hand to help you find your dream home.