A website that covers international property investments has reported on the potential for purchasing homes in the UK’s second cities, namely, Birmingham and Manchester. The site notes that the difference in pricing between London and Birmingham is 101%. In contrast, the differential between Paris and Lyon is 83%. In Germany, pricing in Berlin is only half of that in Munich. The site states that prices in the second cities are expected to go up by 30%, while London pricing slows down.
- Housing prices have increased in London more so than they have throughout the rest of the UK
- It is more likely in the UK than in similar European countries, such as France and Germany, that second cities will be able to catch up economically to its capital city.
- Manchester has taken over the mantle of the UK’s “second city,” replacing Birmingham.
“With house prices in Birmingham and Manchester expected to rise by as much as 30% in some areas over the next few years, as the London property market slows down and even goes into reverse in certain regions”