Northampton is a country town in Northamptonshire and in the Nene Valley. It started as a small market town but has since become a major manufacturing hub in the UK.
Northampton is one of the most thriving cities in the UK. It has a successful growing economy, making it one of the places where most people would like to invest in property.
With a population of 215,000 and a stable manufacturing industry, this town has one of the highest rental demands in the country. There is stiff competition for property in this town. That is why you should hire house conveyancing solicitors in Northampton to increase your chances of landing the best offer in the property market.
Northampton Property Market
If you’re buying property in Northampton for the first time, you should beware of the property prices in this town. According to Zoopla, the average house price in Northampton has been £287,655 for the last year.
Here is the price of different types of properties in the town as of July 2022:
– Flats: £145,070
– Terraced: £228,140
– Semi-detached: £265,229
– Detached: £434,320
The data from Rightmove shows that the average house sold prices in Northampton for the last 12 months were almost similar to the previous year. The prices went up by 11% on the 2018 peak of £239,048. According to Zoopla, you can be lucky to get a home in Northampton for as low as £159k.
When buying property in Northampton, you must research the property market widely. You can engage with your estate agent to help you find the best offer in established locations. The average property prices in Northampton differ from one location to another.
Why should you buy property in Northampton?
A Growing Economy
As mentioned earlier, Northampton has one of the fastest-growing economies in the UK. The vibrant manufacturing sector offers employment opportunities to most of the residents in the city. This has also contributed to the town’s buoyant property market, with the rising rental demand.
According to a recent report by UK Powerhouse, Northampton is one of the five locations in the UK with the fastest economic growth.
Transport Links
Another reason you should consider investing in Northampton is its excellent transport links. The town has some of the best roads in the country. It is close to the M1 motorway at junctions 15A, A45 and A43
There is also a train station that serves the nearby towns, so you can connect with nearby towns like Milton Keynes Central, Easton, and London. Most people prefer buying property in Northampton because of its proximity to London. You can live here and still commute to work in London.
Regional Shopping Centre
Another reason most people prefer buying property in Northampton is the quality of life here. Those looking to upsize for a family can find homes in this town. There is plenty of space for you and your family.
Northampton is a regional centre for leisure and shopping. If your families prefer staying outdoors, you will enjoy living in this town. Market Square is one of the town’s oldest and most established shopping centres.
Other sights you can enjoy when you live here with your family include The Northampton Museum & Art Gallery, the Deco, and the Royal & Derngate Theatre. You can also get out and enjoy with your family at the Billing Aquadrome.
Student Population
Northampton is another university city in the UK. The local University of Northampton (UON) was established in 2005 and has become a leading educational centre in the region. The institution has an ultra-modern Waterside campus and Enterprise Zone, home to over 14,000 students.
Students can also seek off-campus accommodation in Northampton, including Kingsthorpe Village, Abington, and Mounts.
Final Thoughts
There is a lot you should consider when buying property in the UK for the first time. Northampton offers the most affordable property in the UK. With a thriving economy and high population, the rental demand here is quite high, making it an ideal place to invest in property.
When buying property in the UK, you should hire an estate agent and a conveyancing solicitor to take you through the process and save time and money.
