Many experts have considered declining asking prices as a side effect of this year’s decreased buyer activity.
Over the last 12 months, sellers have reduced their average asking prices by 1.1% to tempt buyers to purchase.
However, recent data has shown that new seller asking prices are higher in 63% of areas in Great Britain.
Often regarded as one of the best places to invest in UK property, properties in the North West have increased by 1.5%, which might indicate a healthier local property scene compared to the rest of the UK as we advance into 2024.
Considering the average property price in Liverpool is under £180,000 (according to the HM Land Registry House Price Index), it’s no surprise that sellers can increase their asking price, which still sits well below the national average.
Rightmove products that average asking prices will drop by a 1% average in 2024, giving buy-to-let investors time to take advantage of the market before property values increase in the near future.
If you’re looking for more specific guides on investing in different UK cities, consider our selection of buy-to-let guides, including buy-to-let Islington and buy-to-let Kingston Upon Hull.
