Reasons to be Cheerful About the UK Property Market
The UK property market can feel a little chaotic at times, but there is a strong stream of good news stories about residential investment property that should be able to cheer you up.
Despite some rockiness across global investment markets, UK property and, in particular, residential investment property has remained remarkably stable, meaning that it has been attracting even more investors from across the UK and the world.
Because it’s an asset that holds its value remarkably well, even during economic downturns, and also offers a very stable income, its increase in popularity has been felt right across the UK.
Not just that, but the demand for private rented property in the UK has been steadily rising for decades and thanks in part to a lack of property supply, rental yields and incomes have been rising above inflation for some time.
So here are some good news stories within the UK property market that will no doubt put a smile on the faces of most property investors.
Prices still set to rise in the UK property market
Despite a small drop in asking prices for residential investment property and other residential property for August, Rightmove has said that a small drop in August is quite normal and to be expected around this time of year.
In fact, with autumn being a traditionally busy period for the UK property market, they expect house prices to continue to rise by 7% year on year.
“The autumn months are traditionally a busy period for the housing market, bringing potential price rises as people look to move before the new year. Prices then tend to cool off again as we head into December and the festive season.
“We’re still expecting price changes for the rest of the year to continue to follow the usual seasonal pattern, which means we’ll end the year at around 7% annual growth, even with the wider economic uncertainty,” says Tim Bannister, Rightmove property expert.
Gen Z enter the rental market
Gen Z – those born between 1997 and 2012 – are now entering the UK property market and with them, they’re also bringing rental demand.
Most estimate that a greater proportion of this generation will rent than any other that came before them.
This, in turn, is set to continue to drive rental prices and growth upwards, which is great news for landlords and residential property investors.
If residential property investment is something that you’ve been considering, or you’d like to look at expanding your portfolio then why not get in touch with one of our specialists today?
We have a large portfolio of buy-to-let properties across Manchester and other major cities in the UK that are seeing large growth and a massive amount of investment.
You can also keep up to date with all of the latest news within the UK property market here!
