House prices in Northern Powerhouse cities set to rise by 20% over the next 4 years

House prices in Northern Powerhouse cities set to rise by 20% over the next 4 years

New forecasts from JLL predict that it will be the Northern Powerhouse cities that will see the best house price rises in 2018.

They forecast that cities such as Manchester, Liverpool, Leeds and Newcastle will continue to gain momentum with the North-West region and the Yorkshire and The Humber region benefiting from improved economic activity. The latter as seen an upward surge in investment since Hull’s tenure as UK capital of culture.

Over the next 4 years, JLL forecast that house prices in the above-mentioned cities will rise by over 20%. This compares to the national average expected rise of 13.1%.

This is clearly great news for property investors in these cities who stand to benefit from above-average gains in the forthcoming years. At the same time, the north of England is set to see a lot of building activity over the next five years with the number of households expected to grow by more than 200,000 to meet the need of the growing population.

All the indicators show that we can expect to see a significant upturn in investment across the northern regions which will continue to drive growth in house prices.