A new online tool that that allows homeowners to estimate the future value of their property suggests home buyers looking to make a killing when they sell should consider investing in North Wales.
According to the property calculator from Settled.co.uk, areas north of Snowdonia National Park are showing the largest property price booms outside London.
Llandudno has seen an average property price rise growth of 14%, the largest property price boom outside of London.
Meanwhile, a £300,000 property in LL60 postcode of Anglesey could be worth £621,724 in 10 years’ time.
According to Zoopla, house prices in the UK have seen an increase of over 275% over the past 20 years, with the current average value sitting at £299,745.
London has seen a steady shift in property prices with an average yearly rise of 8.7% over the past 20 years. Farringdon has seen London’s largest increase with an average annual growth of 16%.
According to the property prediction tool a £350,000 home in Herne Hill could be worth over £2 million in 15 years if price trends continue.
The new online platform asks users to enter the current value of their home and first part of the postcode.
A graph then visually represents the growth in value of their property, up to 25 years into the future.
Property hunters are also able to enter a custom percentage growth to visualise their own predicted property price increase.
The tool calculates property value based on data from the previous 20 years and can be found here.
Loading ...