Well, the forecasters got it badly wrong last year, but who would blame them for that? This year, they have more of an idea of what the market is confronted with, but these are uncertain times. Nevertheless, a few industry professionals have stuck their neck out...
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.
When considering the North West, it is easy not to think beyond Manchester and Liverpool. However, substantial investment in infrastructure and regeneration, affordable property prices and high yields make Preston a very attractive alternative.
Until recently, terraced houses were the go-to property for landlords chasing the highest rental yields. Recent research by Hamptons International suggests that this is changing, with almost 50% of investors now preferring to buy flats.
What is the fastest growing sector of the private rental market? Under 30s? No. 30 to 40 year-olds? Again, no. By far the most rapidly growing demographic is the over 55s.
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.
Industry giant Knight Frank have released details of five locations where favourable local conditions suggest opportunities for property developers and investors. Amongst them is Chesterfield, where it just so happens....
Rents continue the pattern seen since the spring lockdown with another quarter of increases outside of London. The capital is still seeing modest falls in rental levels, while the rest of the country averages rises of over 4%.
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.
A study by one of the industry giants found that property values close to a major regeneration site increased over 3% p.a. faster than the wider area. These are 4 of the fastest changing cities in England and their regenerating areas that investors should have on their radar.