However, despite propaganda and horror stories surrounding the housing market in the UK, and the question of how Brexit will affect this, there are actually a lot of positives to buying in the UK at the present. It may well be the case, that now is in fact the perfect time to buy a house in the UK, and here’s why.
A recent census actually showed that the population has grown by a record of 7% in the last decade to just over 68 million people. That’s almost the equivalent of adding the entire city of Manchester to the UK every year. In the next twenty or so years, the number of UK houses needed is expected to reach the sum of at least 28 million, which is an increase of 250, 000 households per year. With rapidly growing numbers like this and the demand for houses growing, why wouldn’t you invest in a property? Not only this, but cities such as Birmingham, Manchester and Leeds are flourishing like never before. London no longer has the monopoly, as many places up North are regenerating. Birmingham alone has gone through a complete transformation, costing over £500 million in development.
Housing prices are at an all time low, meaning it can only go up from here, so why wouldn’t you buy them now in order to make money on them later? It’s a very rare combination: the
weak pound, low interest rates and falling property prices. Because of these elements, borrowing is cheaper than ever, and mortgage rates are at an all time low. This increases the amount of money landlords can charge for rent, thus making their monthly rental income higher than ever before. Therefore investing a buy to let property in the UK at present could make you a lot of money in the long run.
Of course there are further positives to investing in a UK property:
- Studies show that the UK is actually the top European city for property investment, despite political Imagine how much it will boom when Brexit is (finally!) concluded.
- For investors, thanks to the internet and a growth in the alternative methods of sale to the traditional, such as quick sale investors, for example here. This is a great option in case investors end up looking for a quick cash sale, or alternatively look to make a purchase of the
- If statistics are indeed correct, it’s set that at least 20% of the population will be looking to rent their home rather than buy them in the next five If this is the case, then now would be the perfect time to invest in a buy-to-let property. Imagine the money you could make in the future – not bad for the pension pot. Sometimes an investment now is worth the reward you’ll get in the future.
- In the world, out of the top universities, sixteen are actually in the
- In regards to the growth in population, mathematically there are actually too few houses for the amount of people in the country now, and by how much that’s set to grow. Because the demand outweighs the current supply, investors who have exposure to property as an asset are likely to be able to regenerate a return from
- The rise in employment levels in the country is also another reason for investors to buy. By the end of 2017, 75.3% of people in the UK were then employed, as opposed to the 5% the previous year. 2017 showed the joint highest number since records began in 1971. To make this more useful, in numbers it means that roughly 415,000 more people were employed since 2016.
In short, these are only a small amount of the reasons why it’s worth investing in the UK now, and why in fact it’s the perfect time to buy property in this country. Regardless of your purpose, whether you’re looking to become a landlord or wanting to buy your own home, looking at prices and statistics now is the ideal time. So what are you waiting for