But there are plenty of other factors pushing up prices and keeping the market buoyant. “We also see lots of investors from the south of England, and local investors who are buying to rent out,” says Haslam. First-time buyers are also drawn to Burnley by its relatively low prices and a recently reopened train link to Manchester Victoria. Photograph: AlamyOn the official measure, house prices are still rising year-on-year in Kensington, the west London enclave that is the most expensive borough in the country at an average of £1.5m per property. When last summer’s referendum sent the pound tumbling against other currencies, some analysts predicted a house price bubble in London, as foreign investors took advantage of the exchange rate to snap up properties.

Source: The Guardian August 12, 2017 15:00 UTC