London slowdown continues to see buy to let investors look north
Experts predict house prices in the capital will fall even further in 2018 as the city’s property market has continued to see a cool down over the course of several months.
New research from property website, Rightmove, has shown that prices are set to decline by at least 2% having already fallen by 1.8% year on year. In December alone, London prices fell by 3.7% when compared to the previous month*.
In 2015, house prices in the capital were rising faster than the national average with many reports claiming to see price increases hitting double figures month-on-month*.
Meanwhile, the north west of England has continued to see house price growth over the course of several years, seeing figures rise annually at a more realistic pace of 2.4% according to Rightmove data.
Graham Davidson, managing director at Sequre Property Investment, comments on the turnaround of the UK market:
“Buy to let investors should always be wary of house prices growing at such staggering rates. While, of course, capital growth is what we should be looking for in a property investment, figures claiming to see annual rises of high double-digit figures should really be ringing alarm bells. A good investment will continue to make money over the long term, so investors needn’t be looking for overnight growth.”
“Where London has suffered, the North West has gone from strength to strength. Steady growth over several years means that investors are still looking to benefit from growing house prices now and for the foreseeable future. Manchester alone has recently seen annual house prices hit 7% which is great news for those who have invested in the area already. For anyone looking to benefit from property in 2018, it’s clear that the North West is the still the best place to consider.”
If you’d like to find out more about buy to let, or are interested in purchasing your first investment property, then contact us today. Our expert team are knowledgeable and are fully-equipped to provide you with everything you need to know about starting your buy to let journey. Our hands-off, transparent approach allows you to reap the rewards from your investments without compromising your time. If you’d like to find out more, call us on 0800 011 2277.
*Rightmove – House Price Index: December 2017
*The Guardian - London house price rises back into double figures, says Nationwide