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How
to Spot Up and Coming Areas |
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Skips
– If there are skips in the area it is generally a sign that there
are people refurbishing or improving properties. Check especially
for builders skips – refurbishment of entire blocks by builders
will generally only be feasible if there are potential profits in
the area in question.
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Coffee Shops
– It is generally accepted that when coffee shops start to appear
in a neighbourhood,
the residents have enough disposable income to support the business.
Large coffee shop chains will have thoroughly researched the area
into which they open up prior to committing themselves to the area
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Estate Agents
– Estate Agents,
particularly more exclusive agencies,
will always seek to establish
an outlet in
an area where there is the potential for profit. Again these agencies
will have thoroughly researched an area. Additionally their
first hand knowledge of
the housing market
makes them one of
the first to be able to pinpoint areas
which are “up and coming” as they will already have been involved
in marketing properties in the area in question. They have already
done their research – why not use this research to your own advantage
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Name changes
– Watch out for Estate agents changing or inventing names for specific
areas which are proving more popular “Poets Corner” etc Again it
is generally a sign that properties in these areas are more marketable
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Changes in Retail Mix
– Cafes will become delis, Pubs will become café bars as they start
to reflect the change in socio economic climate of their area. Designer
shops will also begin to appear. Again businesses have all a substantial
cost commitment to their area. They would not invest their money
into an area if they did not consider it to be profitable.
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Cleanliness
– An improving area can be identified by new residents taking an
increased level of pride in their neighbourhood. This can be seen
in trimming hedges, mowing lawns, tending shrub beds, repainting
paintwork as well as general attendance to building maintenance
that may have been previously neglected
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Lack of Availability “Sold”
and “Let by” signs rather than “For Sale and “To Let” signs. When
demand outstrips supply it is always a sign that prices will soon
rise to reflect this.
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