Five years ago the towns and cities of northern England and Scotland symbolised the UK’s bullet-proof housing market. Prices were going up almost as quickly as new flats were being built. That has all changed now, of course. The days of endless price increases are over.
It’s not necessarily a bad thing, however. These areas contain some of the most spacious properties in the country. Large gardens are the norm not the exception, and a decent family house is the price of a Mayfair garage. After the Government this week confirmed plans for a new high-speed railway line linking London and Birmingham, the distance between north and south is set to shrink even further.
Here are our top 10 cities to buy in northern England and Scotland. They have been chosen for affordability, value for money and facilities. London and the Home Counties do not have a monopoly on stylish urban living. It’s no surprise that more and more people are being drawn to the magnetic north.
1. Edinburgh
There is nothing mean about Scotland’s capital. Buyers are paying more than ever for the best homes. If Scots achieve greater independence in their 2014 vote, they could expand Edinburgh’s lucrative financial services sector and push up house prices. Even now the city has a swagger. Lloyds TSB says prices rose by 3.1 per cent in the three months to last October.
The city has 13 of the 20 most expensive streets in Scotland. Dick Place in the Grange area is most expensive, with an average house price of £1.5 million, according to a survey by the Bank of Scotland. Other areas are more affordable. A detached house is typically £475,000 and a two-bedroom flat is £187,500.
Canny tip
Buy-to-let landlords might think this is the time to buy in the Leith area of the city, where prices of flats have fallen 15 per cent since early 2010. But be careful to check that there is renting potential.
For sale A four-bedroom flat consisting of the ground floor and part of the first floor of a Murrayfield house. There are front and rear gardens, a garage and off-street parking too. £495,000 from CKD Galbraith (0131 240 6960; ckdgalbraith.co.uk).
2. Glasgow
Scotland’s second city has a dual personality. Cheap-and-cheerful flats built in the buy-to-let boom have not appreciated. But prices of beautiful period homes in suburbs such as Bearsden and Milngavie have soared. Many hope the 2014 Commonwealth Games in the city will boost the housing market. Transport improvements costing £2 billion are planned, as well as eight new hotels.
In low-cost parts of the city a two-bedroom flat is just £75,000, but in the new Merchant City – a dramatic revamp of old central Glasgow buildings – £200,000 is more typical. Five-bedroom detached houses in Milngavie a few miles to the north of the city can top £1 million.
Canny tip
Buy early in the year before prices rise thanks to a forecast shortage in the number of homes on sale. “That’s exactly what happened in the first half of 2010 and it could happen again in 2012,” says Mark Hordern of Glasgow’s Solicitors’ Property Centre.
For sale
Schaw House is a 19th-century Gothic building, formerly part of the Royal Infirmary. Now it has become 23 homes in its own grounds. This flat has two bedrooms. £320,000 from Savills (0141 222 5875; savills.com).
3. Chester
Chester is one of Britain’s great medieval gems. Its centre is dominated by black-and-white beamed buildings and a well-preserved city wall. Yet despite this, and its good road and rail links, prices are still low.
A typical three-bedroom detached house is under £230,000, while a terraced house is a snip at £120,000. The market is active too.
Canny tip
The most sought-after period homes overlook the River Dee or are on a street called The Rows. New homes are being built at two swish schemes – the £34 million bus station redevelopment on Delamere Street and at The HQ, aka the old police headquarters.
For sale
A beautifully restored five-bedroom, Grade II listed town house within the city centre, with two bathrooms, cellars and parking, is just £420,000 Strutt & Parker (01244 354888; struttandparker.com).
4. Bradford
Grim up north? Don’t believe it. In 2011 prices in Bradford rose by 10 per cent to an average of £159,401, a bigger increase than in any other UK city, according to the Nationwide house price index.
The city has shed its industrial past and now relies on tourism. Its Victorian architecture, Cartwright Hall art gallery and the National Media Museum are big draws. There are housing plans for the Goitside and Cathedral areas, plus canal-side apartments in the Channel Urban Village. Period homes are popular, so expect to pay £275,000 for a three-bedroom detached house and £110,000 for a three-bedroom terraced property.
Canny tip
Semi-detached houses are good value right now. They fell by 0.5 per cent in the third quarter of 2011, while prices of apartments, terraced and detached houses all rose – some by six per cent in just three months.
For sale
An extended and modernised five-bedroom house with a garage, a quarter of an acre of gardens and car parking (pictured on page 2) £595,000 from Dacre, Son & Hartley (01274 532323; dacres.co.uk).
5.Harrogate
Some of the finest architecture in northern England makes this one of the region’s most desirable areas. Residents also love the spa and the manicured public gardens. Expect to pay £400,000 to £500,000 for a four-bedroom detached house and £225,000 for a two-bedroom apartment.
There are relatively few homes in the city centre; shops, hotels and bed-and-breakfasts dominate to serve the big conference industry.
Canny tip
The most sought-after (and expensive) detached homes are found in the Golden Triangle. This covers Harrogate, Wetherby and north Leeds. Prices have held up well here, despite the downturn.
For sale
A spacious five-bedroom, four-storey house, a short walk away from the centre and Harrogate Grammar School. £625,000 through Knight Frank (01423 535373; knightfrank.com).
6. Leeds
This is where the downturn started in 2007, when buy-to-let apartments flooded the market. House prices are now back to where they were five years ago, but prices of flats remain low and many city centre apartments are unoccupied. Yet houses in the suburbs are excellent value.
A detached property with four bedrooms is £300,000, and a three-bedroom terraced house costs £127,000, according to the Land Registry. Leeds has just been designated an enterprise zone and the think-tank Centre for Cities recently identified it as a “City to Watch”. This is due to its above-average pay and strong skills base, among other factors.
Canny tip
Property consultancy Jones Lang LaSalle says Leeds faces the largest population surge of any northern city, up from 365,000 households now to 470,000 by 2033. If this happens it may cause a shortage of homes and price rises in the long term.
For sale
A six-bedroom, three-storey Georgian house just 10 minutes from the city centre in Headingley, one of the most popular Leeds suburbs, as well as being great for cricket fans (pictured far right). £600,000 from Dacre, Son & Hartley (0113 230 4330; dacres.co.uk).
7. Manchester
Some people regard Manchester as Britain’s second city. The BBC has relocated 5,000 staff to Salford Quays, the Beetham Tower is the tallest UK building outside London, and its two football clubs vie to win the Premier League. Housing remains great value.
The Land Registry says a detached house typically sells for £240,000 and a two-bedroom apartment for £140,000. The old industrial quarter of Ancoats is being gentrified with many upmarket new apartments. Victoria Park has some of the city’s best-preserved listed Victorian and Gothic houses.
Canny tip
Media City at Salford Quays is not content with being home to much of the BBC and ITV. A location company and university are now based there, and independent television production houses are rumoured to be joining them. This may be a perfect buy-to-let investment.
For sale
Alkrington Hall overlooks 125 acres of parking at Middleton in Manchester. Now the six-bedroom western section of this old Palladian mansion (pictured above right) is on sale for £750,000 through Savills (01625 417450; savills.com).
8. Ripon
Yes, it is a city – a small one with only 18,000 inhabitants. But it feels more like a market town, with 100 stalls in the square every Thursday and a pretty canal running through its centre.
Prices are low: a modern five-bedroom family house is just under £250,000 and even a large period detached house with substantial grounds is unlikely to be above £600,000.
Canny tip
If you plan to buy near the racecourse, visit the area on race days first. It can get extremely busy.
For sale
A five-bedroom house just south of the centre, with a garage, workshop and private driveway. £575,000, Strutt & Parker (01423 706776; struttandparker.com).
9. Liverpool
The city has its detractors, but love it or loathe it, you cannot ignore it. Much of the centre has been transformed in recent years and now boasts world class cultural attractions such as the Tate gallery. Many buyers love the city’s plentiful supply of terraced houses.
The average price is still under £92,500. Calderstones Park and Crosby are the most sought-after suburbs, but even here a detached house can often be found for under £350,000.
Canny tip
Liverpool and Wirral councils have just received £12.3 million to regenerate areas including Anfield, Breckfield and Wavertree. Astute buyers might invest in locations where the money will improve infrastructure.
For sale
The Albert Docks symbolises Liverpool’s regenerated centre. A two-bedroom second-storey apartment in the Colonnades scheme costs £279,999 from Jones Lang LaSalle (0151 242 6490; joneslanglasalle.co.uk).
10. York
Its famous chocolate and railway companies are thin on the ground these days, but Yorkshire’s capital is thriving. Its economy, relying on the university, the NHS and tourism, is one of the strongest in northern England.
House prices fell 2.1 per cent last year, despite the city’s excellent transport links. A three-bedroom detached house costs £225,000. A terraced house the same size is £116,200.
Canny tip
London is only 135 minutes away by train. If you can bear to commute weekly, as growing numbers do, you could live like a king in this Roman enclave.
For sale
A three-bedroom apartment just within the city wall. Packed with original features, it has been renovated and enjoys a panoramic view of the centre. £500,000 from Savills (01904 617820; savills.com).