Now may be the time to look out for good deals when buying a buy-to-let property, but investors will wonder if it’s worth buying into a subdued market. When assessing buy-to-lets for sale, it’s essential to consider whether or not the property will grow in value and how quickly it is predicted to do so.
According to The Standard, property experts Savills have weighed in on these latest ONS figures. They state that downward pressure on house prices continued into the final weeks of 2023 due to the high mortgage rates.
However, regarding future predictions, they have observed ‘encouraging signs that buyers are gaining confidence as mortgage rates fall’.
Savills’ Residential Market Forecast shows that the UK property market is predicted to return to healthy growth from 2026, and mainstream capital value is forecast to increase by 17.9% in the five years leading up to 2028. In particular, North England regions are set to outpace the national average. For example, the North West is forecast to grow by 20.2% by 2028.
Further Reading: Decipher the best areas to buy in Manchester and some tips for Leeds property investment with RWinvest’s latest insights and guides!
