The Buy2Let Shop has found that the UK’s residential property market is the fourth best in the world for investment, according to recent statistics. Research says prices have increased by 20% since 2010, making it a hotspot for buying residential property.
Estate agent Savills conducted the research, which found that the UK is behind only the USA, United Arab Emirates and Singapore in the worldwide rankings. And that growth is expected to increase even further in the coming years, if governmental rules remain the same for housing policies.
Yolande Barnes, director of Savills’ world research, explained: “When a growing population, growing affluence and limited housing or land supply converge, we would anticipate real house price growth.”
UK economic growth has risen 0.7% in the second quarter of 2015, with output also 2.6% higher than the same period last year according to the Office of National Statistics (ONS). That means that the UK economy has now grown for ten consecutive quarters – it’s back up to the level it was at before the economic downturn of 2008.
And the buy-to-let market remains strong as the British Housing Shortage shows no sign of ending – according to the Guardian, around seven potential buyers are chasing each property in London. There are signs that the market is responding: The Buy2Let Shop last week reported that supply is increasing across the UK. Forecasts suggest that 70,000 new homes will be built per year by 2018. But this is still well short of the 240,000 units a year that are reportedly needed to meet the country’s growing population.
For now, though, a stimulated market is good news for the buy-to-let investor as demand continues to increase and rent prices soar.
The Buy2Let Shop
Buy2Let Shop are the UKs leading estate agent for investment grade property and along with our sister company “The Buy2Live Shop” we offer professional and friendly services to vendors looking to sell their home to investors looking to build their portfolio.
Through our national advertising campaigns and huge network of contacts, we connect buyers with sellers and unlike most high street estate agents, we not only have a large number of listed buyers looking for find their dream home, we also have a database of retained investors, with proof of funds and finance in place.