What experts are predicting for the UK property market

According to property business experts the property market in UK in general and London in particular may suffer due to heavy loss next year in case of a Brexit with “no deal”. In the opinion of many people Brexit without a formal agreement is likely to happen. In March 2018, the average price rise of property in UK was 1.5% and the current average property price in UK is £227,871.Towards the end of the current year, the annual property price growth will be about 3%. Shortage of property for sale, low rate of mortgage and low unemployment will be the reasons for the slowdown in price growth. Some of the global real estate services predicted 1% hike in UK property prices in the year 2018. They also agree that the property prices in UK will be seriously affected because of the uncertainty that prevails in the UK economic scenario about the outcome of Brexit with regard to household finances. The majority of real estate experts are of the opinion that the property price in UK will show a modest rise. The rate of property price growth will be higher in UK as a whole than the same in London. However, since the interest rates are still low, it is widely believed that those who are ready to invest in property have ample opportunities all over UK. 

Investment opportunities in Manchester

Manchester expects rapid growth in coming years. There will be a rapid increase in population and in order to meet the demand the city may require 40000 more homes. Since there is heavy demand for property in city centre, tenants are likely to move towards outer places in search of affordable accommodation. Since the property prices in the outer areas will be considerably less than the prices in the city centre, investors who want to rent out the homes will prefer to buy property in outer areas of Manchester.

Prices drop in London

Being one among the top real estate markets of the world, the long term outlook in London property market is optimistic. However, slowing of price rise may occur as a result of further hikes in interest rates. The investors may however find out good opportunities in those areas where the land remains undervalued. 

Birmingham and Liverpool

Birmingham will remain the ideal place to invest by those who want to buy houses for giving them on rental. In 2018, more buy-to-let investors will be getting amazing deals in Birmingham. The ideal environment for entrepreneurship in Birmingham will also create a lot of opportunity for investors in this city. Liverpool has high growth potential and the property prices here are expected to remain low. The increasing population, availability of talent in plenty, highly impressive economic records and the buoyant property market make Liverpool an ideal place for investment in property.

About Wayne Gallant

Wayne is the director of Get Me Moving and the company focus is to ensure our technology makes your conveyancing organised, efficient and more profitable.

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