House prices finished the year up 7.3% according to Nationwide, with their quarterly regional report showing the South East high in the rankings for the first time in years. Zoopla reports that demand in 2020 has been 40% higher than in 2019.
Despite the headwinds facing buy to let investors, the number of residential landlords has seen an almost 50% surge over the past 5 years. Why has the sector remained so attractive?
Yes, those guys with beards, skinny leg jeans and bicycles are pointing the way to the newest property hotspots.
Property values continue to surge, now up to 6.5% year-on-year according to Nationwide Building Society. It is still the North, North West and the Midlands showing the greatest gains, with Nottingham and Manchester leading the way.
Covid dominated all aspects of our lives in 2020, including the UK's property market. The response to it will shape the industry throughout 2021 and beyond.
So, here we are again. The spring lockdown froze the housing market, but this time round property transactions have escaped the restrictions of version 1.
Nationwide's figures for the month show property values up 5.8% over the last year. As usual, cities in the north lead the way.
Average selling prices for UK properties hit a record high in September according to mortgage lender Halifax, with property portal Rightmove reporting asking prices still on the rise.
Six months ago, some economists were forecasting a difficult housing market with a collapse in demand and price falls in the double digits. In any previous recession they might have been right. Not this time, with activity strong and prices 5% higher than a year ago.
As expats ourselves, we really do understand the temptation to sit on cash right now. However, for those with a reasonable amount of capital and confidence in their job security, there are a number of reasons why this may be the best time to invest in UK property in a decade.
Housing prices recover from a recent dip to an all time high in August with annual house price growth now standing at 3.7%.
It seems that home buyers reaction to the pandemic is outweighing economic concerns, driving property prices to new highs. So, what is happening and where might we go next?
British expats, Hong Kongers and astute overseas investors are flocking to buy UK properties. Previously focused on London, the regional cities are now attracting a lot of interest.
House price growth rebounded in July as activity bounces back, with prices up 1.7% month-on-month.
Much has appeared in the press about an exodus from the cities in search of outdoor space. There will undoubtably be many in the race for more space, but a certain demographic will stay put.