Harborne in Birmingham is Britain’s fastest-growing ‘hipster hotspot’ according to new data from property website Zoopla.
The up-and-coming Birmingham suburb has experienced a 3.04% increase in average property prices since the start of the year, out-performing the rest of Britain, which has seen average property values rise by just 0.67%.
Zoopla looked at property value growth in well-known areas that have recently become – or are in the process of becoming – gentrified in 10 of Britain’s largest cities.
Britain’s second city dominates the rankings with five out of the top 10 hotspots located in Birmingham.
Great Barr takes second place with price growth of 2.25% since January, bringing average property prices to £332,639. Bristol’s fashionable St Paul’s ranks third with a 2.2% (£5,501) price rise since the start of the year.
The trendy Baltic Triangle neighbourhood in Liverpool takes seventh spot, with price rises of 1.98% since January.
Further south, Bristol’s Montpellier and Stokes Cross have seen 1.68% growth and 1.43% growth respectively.
In contrast, London’s popular hipster hangouts haven’t performed as well. Renowned hipster favourite Shoreditch has seen modest growth of just 0.68% as has neighboring Dalston at 0.55%. Stratford is the capital’s best performing ‘hipster hotspot’, and the only London neighbourhood to make the top 10, with strong price growth of 1.37%.
Lawrence Hall, spokesperson for Zoopla, said: “Lawrence Hall, spokesperson for Zoopla comments: “It’s well documented that house price growth in London has slowed, while growth in large regional cities is still robust.
“So, seeing Birmingham, Bristol and Liverpool feature prominently in the Zoopla ‘hipster hotspots’ rankings and growing more quickly than their London counterparts is no surprise. Those looking to invest in ‘up-and-coming areas’ could now consider the nation’s second city, as well as Bristol and Liverpool.”
Top 10 UK hipster hotspots
|
|
City | Area | Percentage increase since January 2017 | Average property prices January 2017 | Average property prices July 2017 |
| 1 | Birmingham | Harborne | 3.04% | £323,787 | £333,639 |
| 2 | Birmingham | Great Barr | 2.25% | £130,943 | £133,891 |
| 3 | Bristol | St Paul’s | 2.19% | £250,297 | £255,798 |
| 4 | Birmingham | Mosely | 2.17% | £264,116 | £269,857 |
| 5 | Birmingham | Kingstanding/Erdington | 2.10% | £137,164 | £140,054 |
| 6 | Birmingham | Stirchley | 2.08% | £205,672 | £209,958 |
| 7 | Liverpool | The Baltic Triangle | 1.98% | £143,664 | £146,510 |
| 8 | Bristol | Montpellier | 1.68% | £491,175 | £499,439 |
| 9 | Bristol | Stokes Cross | 1.43% | £303,188 | £307,528 |
| 10 | London | Stratford | 1.37% | £467,791 | £474,192 |
Source Zoopla July 2017
