The West Midlands has been named one of the top regions for property investment in the UK.
New research carried out by Barclays bank which provides a three to five year forecast on investment hotspots across the UK, has revealed that both Warwick and Stratford-on-Avon are some of the best places to invest in residential property.
The research uses factors such as rental trends, employment levels, commuter behaviour as well as current house prices to create a list of property hotspots.
Despite an uncertain economic and political climate, the UK property market remains resilient with prices in areas across the UK set to rise by an average of 6.1% by 2021.This includes the Midlands which is projected to see a rise in house prices, placing it as one of the top 20 highest areas in the UK for growth. Warwick is expected to see property prices to increase annually by as much as 5.31% over the next five years.
Rises in employment rates, and an increase in earnings are all predicted to contribute to rising property prices across the UK. The largest annual rise over the next five years is expected across the South of the UK, with property investors looking slightly north to the South east for good value for money.
London is expected to see the largest regional increase of 2.3 % annually to a combined rise of 11.9%. East Anglia comes in with 9.4 % followed by the South East at 8.7% and the East Midlands on 6.7%. The West Midlands and Scotland are both set to see a 5.8% rise over the period.
Northern Ireland and Wales fall to the bottom of the table with mere 3% and 2.8% rise expected over the next five years.