What’s in store for the UK property market in 2018?
We are welcoming the new property year with a roundup of what overseas investors could expect of the UK market during 2018. Our own team here at Copperstone is highly optimistic about property figures as our clients have renewed their love for properties in London.
According to Rightmove, there will be a 1% growth overall in England and Wales this year. Property in the UK is still considered a sound investment and a safe monthly income generator since homeowners have seen a 4.6% rise in their property price each year since 2011. The national average for property prices in the UK has risen over these 6 years 30.9%.
“It is fascinating to see the individual postcodes where property prices are growing at a very fast pace, particularly when they are significantly outstripping the city’s average growth,” said Craig Calder, Director of Barclays Mortgages.
Despite the political and economic uncertainty, London has topped the choices of renters for 2017 and will continue to do so this year. The UK market has been experiencing turbulence that can be turned into an opportunity for overseas investors to move money quickly around London as the political environment reshuffles. For Calder, the property market in the UK has been changing at an extremely fast pace, not just around the UK but within each individual city.
Economic ambiguity hasn’t managed to influence the luxury property market, average asking prices are predicted to reach £1,300,000. The axing of stamp duty for first-time buyers is also expected to raise demand for homes in 2018.
According to a report by CBRE, the property investment market has been attracting overseas investors who are putting their trust in the UK, and especially in London, despite some negative predictions. Brexit discussions have not been troubling investors who are looking for trophy assets across London to expand their portfolio.
London’s appeal has mainly increased due to:
- Open legal and regulatory framework
- Long leases
- Traditionally high ROI
- Sourcing of high-quality tenants
- Increasing the supply of regeneration and off-plan opportunities.
The report sees that high-net investors will continue to flock to London in 2018 mainly because they view it as a safe haven for sound investments. According to the statistics, international investment in the UK could reach £63bn in 2018.
The time for new beginnings is now! Call us today on +44 (0) 8445 555 555 to start planning your property investment in London together.
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