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The outlook for Britain's property market might not be as rosy as in recent years, but prices in some areas are expected to rise strongly in 2008. In fact, areas of Parts of Scotland, southern England and Wales are likely to record the highest house price growth during the year, according to leading Estate Agents.
Real estate investment can be a bit hit and miss. However, arm yourself with the right information and the world's your oyster. 10 property 'hotspots' have been identified - towns that are expected to outperform the national average by the greatest amounts during 2008.
House prices in nine of these areas are currently trailing the average for their regions. But with their popularity on the rise, a canny real estate investment could really pay off in the long run. Below is a list of the towns, their current average price and the percentage difference to the regional average:
. Lochgelly, Fife, Scotland (£118,838, -31 percent)
. Paisley, Scotland (£140,338, -19 percent)
. Greenock, Scotland (£140,512, -19 percent)
. Aberdeen, Scotland (£202,755, +17 percent)
. Hackney, north London (£361,179, -2 percent)
. Chatham, Kent (£195,211, -31 percent)
. Dartford, Kent (£217,27, -24 percent)
. Liverpool (£155,353, -11 percent)
. Newport, Gwent, (£146,467, -11 percent)
. Pontypool, southeast Wales (£148,596, -10 percent
An Estate Agent spokesman, said: "Some areas will continue to be in high demand next year with property prices rising accordingly, despite the expected subdued outlook across the market as a whole.
"Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transport links to a major conurbation and relatively low average prices.
"A number of areas will see a boost to prices as a result of significant infrastructure projects."
Property prices in Lochgelly, Paisley and Greenock in Scotland are expected to be driven by lower-than-average property prices and good transport links to Glasgow and Edinburgh, while Aberdeen is likely to see continued property price growth given the strength of the local economy and energy prices.
Regeneration ahead of the 2012 Olympics is expected to attract buyers and boost property prices in parts of east London, such as Hackney.
House prices are also likely to be boosted in areas close to the planned Crossrail line in London, while the planned opening of high-speed commuter services from central London to north and east Kent in late 2009 will stoke prices in Chatham and other Medway towns in Kent.
Meanwhile, above-average house price growth in parts of Wales is anticipated on the back of second-home buyers finding it increasingly difficult to find affordable property in the Cotswolds. Armed with this information, any person looking to make a real estate investment in the next twelve months should consider these areas - areas that may not be particularly booming now but which over the next twelve months will flourish and could richly reward the canny real estate investor.
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