Real estate opportunities at County Durham, North-East England
Fast economic growth in Durham County of North-East England during last six years has opened many new opportunities in Real Estate sector, In the UK and Europe, North East economy has become one of the most dynamic economies, which has attracted huge investment in the field of advanced technologies. The market is vast expanding and the companies are busy serving the market demands around the world with their technology based products.
Durham is situated 21 km south west of Sunderland, England. It has a peninsula and the main market is at the base of the peninsula. A permanent indoor market is situated just off the Market Place. The Market Place and surrounding streets are the main commercial and shopping areas of the city. Durham is a hilly city, built upon the symbolic seven hills. Its steep riverbanks are densely wooded and they add to the natural beauty of the city.
Over £200 million has been invested in different technologies. Several hi-tech companies have collaborated with different universities of North-east. Chemical and health-care industries play a vital role in economic growth of Durham County. Many other industries in automotive, electronics and animation field have also gained significant growth in this part of the world.
Durham is a historic city and with the rising influx of students from all over world it has great potential in real estate sector. Prices in some smaller towns are low. There are buyers who are willing to invest in property to get an assured return on investment. Best option is to buy-to-let system. There is growing demand of rented accommodation amongst students and factory employees. A reasonable rental return to the extent of 4%-5% can be expected if you invest in buying and letting out your flat.
Prices of properties particularly in towns like Alnwick and Alnmouth are higher because more and more families prefer to settle down in these beautiful towns.
North East UK also offers good investment opportunities in some of the developing regions. Quality of life and friendly communities are the main reasons why people prefer moving to this region.
A newly built two bedroom house particularly in urban areas of Newcastle and Sunderland might cost somewhere nearly £50000-£60000. Three bed-roomed houses in this region might cost above £100,000. If you are looking for cheaper property you might get a two bed-roomed house for approx £40000-£50000 in areas like Harte-pool or Darlington.
If you have plans to invest in the range of £200,000 – £500,000, some beautiful bungalows in towns like Barnard Castle and Bishop Auckland may suit you. Durham County also offers big farm houses with plenty of land for investors willing to pay in the range of £ one million.
Are you planning to buy property in North-East England? Have you arranged your finances to cover initial payment and professional fee? Have you made your borrowing arrangements with your bankers? Most importantly, have you contacted a trusted and reputed real Estate Agent in Durham to help you in the entire deal? These points will help you save lot of future botheration.
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