According to Zoopla, the positive start to 2024 should increase market confidence and encourage investors to enter the market over the next 12 months.
However, sellers may want to avoid getting carried away and temper expectations regarding their property’s worth. With mortgage rates still high, sellers may not be able to get their desired asking price.
This could be good news for buy-to-let investors looking to start or add to their property portfolio.
However, there are numerous things investors should consider before choosing a property this year.
Investors may want to look at city centre buy-to-let property compared to large houses. Bigger homes command larger price tags, which could make it harder to see a return on your investment.
However, a recent study from Shawbrook Bank showed that over a quarter of landlords recognise that city centre apartments are a lucrative investment opportunity following an influx of people returning to office work.
In addition, Zoopla data shows that investors are moving away from high-value areas and looking further afield to find better-value rental property for sale, such as the North West.
So, while house prices may not rise in 2024, expect an increase in demand and activity that will improve house sales over the next 12 months.
For more information on the UK property market, check out our guides on Kingston investment properties and the Newport buy-to-let market.
