Britain’s newest property hotspot has been revealed as Brentwood, made hugely famous by the TV series The Only Way Is Essex.
House prices in the town, which is also the UK headquarters of Ford Motor Company, have soared 16% in the 12 months to September, the highest increase in the country. The average house price is now £457,314, with semi-detached homes the most popular.
It found that while the homes in London increased in value by 11%, this was eclipsed by a few hotspots across the Home Counties. The second highest price rise in the last year was in Canterbury, Kent, where the average house price went up by 16%.
Both places are becoming very popular because of their short commutes into London and lower property prices, as housing affordability in the capital is crunched.
Every thousands of Londoners move out of the capital to the surrounding commuter belt, driven by a desire for better value, more space and a wider choice of schools.
The usual shopping list for people moving to the area are good transport links, good schools and many buyers will also have one eye on the potential for price growth when choosing a location.
Making Brentwood an area to keep an eye on for property investment or buying that larger family home just outside of the capital.