HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.
New research has found that as cities such as Manchester, Birmingham, Nottingham and Edinburgh develop their travel network, house prices in the immediate areas increase, with an emphasis on growing tram links.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.
The unstable pound has contrived to aid the property market after Brexit, as overseas investors have made an ever-increasing number of overtures and investments in British property.
Manchester and Birmingham will see rises of 20 to 30 per cent over the next three to four years, based on the shape of the regional economy and the trajectory of the current housing market cycle.