HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Greater Manchester has seen a huge surge in the number of young people setting up home here. We crunch the numbers and find out why..
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.
Of 18 areas we looked at, the best value for those wanting to rent is Chatham, on the Medway estuary in North Kent. For those wanting to buy a two to three bedroom house or flat, Chatham also turns out to be the most affordable.
Rental growth has accelerated over the last 12 months from an
annual rate of less than 2% in July 2021 to 12.3% today. The average rent increased by £115 per month since last year.
According to a recent report, around 5 million UK households, or 21% of the total, are in private rented accommodation. This is set to rise to 5.79 million (or 24%) over the next five years.