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East Mids House Prices Set To Boom - KPMG


Jon Robinson Jon Robinson Senior Digital Staff Writer
East Mids house prices set for boom - KPMG

A new report by KPMG has revealed that house price growth in the East Midlands could surpass London over the next five years.

The analysis has shown that the house price growth in the region was projected to grow at an average of 3.4 per cent over the coming years.

Meanwhile, the North East and London were projected to grow the least, at 1.9 per cent and 1.5 per cent on average respectively. 

Ian Borley, East Midlands senior partner at KPMG, said: "The housing market in the East Midlands reflects the strength of our local economy and the Midlands as a region overall.

"Our analysis reinforces the importance of local infrastructure and connectivity, with billions being invested to improve roads, rail lines, schools and hospitals in the region, and these continue to be crucial drivers for house price growth.

"A number of towns and cities across the East Midlands are undergoing regeneration, deemed ‘up and coming’, and already these are noting rising house prices.

"These factors drive perceived attractiveness and ultimately create a virtuous circle of growth.

"Regional business hubs like Derby, Leicester and Nottingham are benefitting from the exodus of talent leaving London to start a life where the job prospects are good and the cost of living is cheaper.

"Policymakers need to recognise the impact rejuvenation and community can have on making areas attractive.

"As is evident, eyes should be fixed on the regions as much as on London."



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