How to Spot an Up and Coming Property Hotspot

One of the keys to a successful investment is spotting an upcoming area. You will benefit from lower property prices, higher yields and (Hopefully!) a sharp increase in value. These indicators are good place to start to help you identify which neighborhood will be the next big thing.

Cafes & Bars

Notice a lot of independent Cafes and Bars popping up? This is often a sign that the people living nearby have disposable income. These eateries will draw new people to the area, increasing footfall, the desirability and aesthetic appeal of the neighborhood. Seeing big chain names, such as Starbucks or Costa can signify that the area has already “emerged” and you may be late to the party.

Building work

If the sky is littered with cranes and you are surrounded building sites, it is a sure indicator that people are investing money in the area. It is always a good idea to note down the name of the developers and do your research – how big is the project? Who is their target market? Learn about what direction the area is going in from this information, and find out if this is in line with your plans.

Transport Links

If an area had good transport links to major towns or cities, it will act as a magnet to young, working professionals who are looking for a more affordable cost of living. Alternatively, if there are plans to improve links in the area, it could be a spot for the future.

Young Professionals

Young professionals are attracted to an upcoming area by more reasonable house prices, good transport links and an up and coming social scene. If you spot a significant increase in this demographic, you should sit up and take note as it is likely the neighborhood is on the up.

Even with all the above boxes ticked, spotting a new property hot spot involves an element of luck and being in the right place at the right time – However, if you are bold this element of risk can bring big rewards.

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