After a challenging 2023 due to high interest rates, the property market is looking up for 2024. Despite fewer transactions last year, demand in both commercial and residential sectors remained strong.
As global markets stabilize, interest rates are expected to decrease, leading to increased returns. Predictions suggest a stronger outlook for UK property investment this year, driven by a more favourable political and economic environment.
With 2023 spent identifying market lows, we believe we’ve reached them. This means excellent value opportunities are available, ready to be seized as market confidence grows.
2024 promises to be an excellent year for property investment! Here’s why:
- Economic Stability: After a challenging period, the global market is stabilizing, creating a favourable environment for property investment.
- Lower Interest Rates: Expected cuts in interest rates will make borrowing cheaper, improving affordability and boosting property prices.
- Strong Demand: Residential sectors are showing resilient demand, ensuring a steady rental income stream.
- Market Bottom: With property prices likely at their lowest, now is the ideal time to invest and capitalize on future appreciation
- Government Support: Continued incentives and support for property investors make it easier to enter and thrive in the market.
- High Rental Yields: Particularly in regions like the North West, rental returns are outpacing the national average, offering lucrative opportunities.
