Property enthusiasts who buy and then sell a home soon after the purchase in a bid to make money, have turned their attentions to the north of England as the value of homes in London and the south east begins to drop.
Popular new hotspots include Middlesbrough and County Durham.
However, the top place for buying and selling in quick succession is Burnley in Lancashire. Figures show that more than six per cent of homes sold were swiftly put on the market again. That’s according to Land Registry data from Hamptons International, a division of Countrywide.
Meanwhile, London rents on newly let homes, fell for the third consecutive month, down 0.8 per cent year-on-year – the Hamptons International Monthly Lettings Index has indicated.
That’s despite 21 per cent fewer homes available to rent than last year. However rent on newly let homes elsewhere, excluding London, rose two per cent year-on-year.
House price growth in London almost ground to a halt in 2017.
Burnley remains the cheapest local authority in England in which to buy a home. There, the average property costs around £81,352.
According to experts, price growth in the north of England will continue to outperform prices in the south.