Many people have invested in the property market in order to provide returns to support their future and that of their family. However, property did fall out of fashion for a time when prices rose and it became a less attractive savings option. That trend has now reversed and many believe property is still the way forward.
The residential property is cyclical, and there are peaks and troughs like any sector. Question marks over Brexit means many buyers and sellers are choosing to sit tight rather than making a move on the market. Nervousness over Brexit and what this could mean for mortgage rates has encouraged many residents to stay put.
UK population is growing and the number of homes is not keeping pace.
The UK’s population is rising and the number of houses being built is not matching that rising demand. The number of people separating or divorcing, and fewer families living with older generations under one roof, all mean that more homes are needed to house this ever-expanding generation. Property experts say this is a situation that’s likely to keep trending for the future.
Rental growth remains strong which is good news for landlords
Rental growth is still strong and provided that landlords are willing to invest for longer periods, then the short-lived drops in house prices shouldn’t really matter. Landlords are increasingly turning to property inventory software to assist them with the rental process. Ideal for letting agents and property managers, property inventory software has many benefits and is becoming an attractive option.
Up and coming property hotspots in London
According to The Telegraph, Elephant and Castle and Woolwich are two areas of London which are up and coming property hotspots. With rising populations in many of the London boroughs, these particular areas are providing new housing for residents.
With Brexit on the near horizon, there is a large degree of uncertainty as to the exact after-effects on the entire UK property market. If house prices see an unfortunate drop, owners may lose out on money in the short term, if they decide to sell.
However, this can work both ways. If the property market undergoes a mini boom following Brexit, this rise may persist for the foreseeable future, so the property investment could be worth it.