Property prices booming!

PROPERTY prices in Warrington are continuing to boom, increasing more than 15 per cent in the last year according to a property investment expert.
The average house price within this region is £153,126 and has seen an annual rise of 6.3% and with experts at HBF Investments offering BMV deals at a minimum of 20% off, the region is a place to invest.
Despite the ups and downs of the economy, buying a property is still considered a secure long term investment as long as you remember to collect the rent, pay the mortagage on time and invest properly into maintaining the property.
David Coughlin, a Property Investment Expert who has a personal portfolio of over 100 properties, many in the North West, said: “There is a lot of doom and gloom at the moment about finding a decent property and getting your money’s worth. In terms of renting, arrears are at their lowest level in 2.5 years so there are bargains to be had,
with cheap purchases, higher rents, lower arrears and cheaper mortgages that will withstand a turbulant economy.”
Top areas to invest in The North West include Halton showing a massive 17.5% rise in property prices in the last year – in the last quarter prices were up by 10.1% making it the number one place to buy in The North West, but deals are few are far between, with only 147 sales reported over one year!
Meanwhile Warrington is another area showing excellent growth with an annual increase of 15.4%.
Greater Manchester showed the greatest number of annual sales – totalling 4,824, followed by Lancashire with 2,531 sales and Merseyside with 2,043 sales.
David says now is the time to buy in areas such as Cumbria (properties down 5.9%), Blackburn with Darwen (-5.3%), Merseyside (-5%).
The strategy is simple, follow these tips! Buy at a discount to cover any falls and rent out at a profit.In 10-15 years your asset will have doubled in price and you will be far wealthier than your competitors.
Remember to maintain your property during economic dips as growth will return.