Newcastle upon Tyne is still attracting large numbers of enquiries, making it the UK's most popular location, according to the December edition of the
UK Property Shop Moving Location Index.
Local agents Mansons reports that even in the last month or so prices of 2 bedroom flats in lower Tyneside have gone up from £155,000 to £175,000. Agents also report increasing interest from buy-to-let investors looking for residential property to let, especially in the city centre and quayside areas, where there has been considerable activity from developers of good quality flats. However this surge in development has apparently led to a glut of rental property at the upper end of the market, causing rents to drop to more realistic levels. Better quality 2 bedroom flats that might have been rented for up to £1,100 per month by the corporate sector a year or so ago are now letting for around £700-£750 per month. Agents Northwood Tyneside reports that some landlords are not even covering their costs with the rent now being paid - a situation that is bound to become worse with the latest increase in mortgage interest rates.
Shrewsbury in Shropshire comes out as the second most attractive UK location for property buyers. Situated on the banks of the River Severn and only a few miles from the border with Wales, this charming town with many period buildings has a population of around 70,000 - up from 64,000 in 1991. It is also recognised as the birth place of eminent scientist Charles Darwin, author of "On the Origin of Species" about natural selection and evolution.
Following the established pattern for some time, coastal and seaside resorts continue to dominate the Moving Location Index rankings, including Eastbourne [3], Jersey [6], Newquay [7], Bournemouth [8], Skegness [12], Isles of Scilly [14], Weymouth [16] and Aberystwyth [17].
