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Homeowners should 'embrace' wardens!
Homeowners should welcome an increase in the number of traffic wardens and burglar alarms, as they indicate that their area is ‘on the up’...
A study from ING Direct in conjunction with the Future Foundation reveals the top ten signs of a ‘high growth potential’ area. These localities will not only enjoy significant house price rises of 13 per cent over the national average in the next decade, but will also offer a much-improved standard of living and employment prospects for local residents.
The findings reveal that traffic wardens should be embraced not loathed, as parking measures are a symptom of the rising affluence of a neighbourhood. Multiplying burglar alarms also suggest an area’s increasing prosperity, according to the report.
Other signs of a location’s potential for success are thickening telephone directories, a sure-fire sign of small business growth. Packed trains and buses aren’t all bad news either, as commuter traffic proves young professionals are moving in.
Top ten signposts
In addition, improvements in local school results, fuller school waiting lists and multi-cultural cuisine on the high street indicate an area is set for better things.
The ING Direct top ten signposts were identified following analysis of the UK’s 20 fastest growing metropolitan and non-metropolitan areas between 1995-2005. Future Foundation looked at the overall trends associated with fast house price growth and then identified the most prominent visual indication that these changes are underway.
Birmingham, Newham and Bicester all feature among this list of existing growth areas, the majority of which have experienced a rapid turnaround from run-down to desirable area over the period.
The signposts were verified in a nationwide poll of estate agents, nearly three-quarters (73 per cent) of whom agreed that an area that shows them is likely to experience high house price growth and an improved standard of living.
The most prominent signposts, according to these property professionals, are improving schools (79 per cent), skips and scaffolding (70 per cent) and planning application notices (67 per cent).
High growth potential
Commenting on the findings, ING Direct CEO Lindsay Sinclair said.” Everyone wants to know if their area they live in or are planning to move to is ‘on the up’, in order to find out whether their home is a good investment. Our report reveals a number of signposts that will help homeowners to find out whether an area is set for better things”.
“In order to qualify as having ‘high growth potential’, we estimate that an area must exhibit at least six of the ten signposts we have identified. Traffic wardens and more crowded public transport are not things you would normally welcome, but it appears that such annoyances do come with a silver lining. “
Signposts of high growth potential
- Thicker telephone directories.
- More crowded public transport.
- Increases in parking restrictions and in the number of traffic wardens.
- Improvement in school results and fuller school waiting lists.
- Neighbourhood Watch schemes.
- Increasing numbers of burglar alarms.
- More skips and scaffolding.
- Disappearing graffiti.
- More planning application notices.
- Ethnic cuisine in local shops.
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Top Twenty Areas 1996-2005: average annual growth (%) |
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North-West Birmingham |
19.4% |
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Bicester, Oxfordshire |
16.9% |
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Near-centre Liverpool |
15.9% |
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Newham |
15.7% |
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South Yorkshire |
15.6% |
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Penwith |
15.5% |
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Thames Gateway-South |
15.4% |
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North Cornwall |
14.9% |
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Kerrier |
14.9% |
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Carrick |
14.7% |
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Torridge |
14.6% |
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Brighton & Hove |
14.6% |
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Weymouth & Portland |
14.3% |
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Outer Manchester |
14.2% |
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Camden |
14.2% |
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Restormel |
14.1% |
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Tower Hamlets |
13.9% |
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North Devon |
13.9% |
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Battersea/Clapham/Brixton |
13.9% |
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Waltham Forest |
13.8% |
Top three signposts by region
Source: PCP estate agents poll, 17th December – 27th December 2006 (sample: 200)
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Region |
Top three signposts |
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UK |
- Improving school results (79 per cent)
- More skips/scaffolding (70 per cent)
- Planning notices (67 per cent)
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Scotland |
- Improving school results (75 per cent)
- Planning notices (73 per cent)
- Disappearing graffiti (66 per cent)
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North |
- Improving school results (73 per cent)
- More skips/scaffolding (65 per cent)
- More parking restrictions (69 per cent)
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Midlands |
- Improving school results (85 per cent)
- More skips/scaffolding (77 per cent)
- Planning notices (69 per cent)
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London |
- Improving school results (75 per cent)
- More skips/scaffolding (70 per cent)
- Planning notices (62 per cent)
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South (outside London) |
- Improving school results (88 per cent)
- More skips/scaffolding (78 per cent)
- Planning notices (78 per cent)
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