Is it Worth Investing in a Property in the UK?

Surprisingly, even at a time where the housing market in the United Kingdom is uncertain (what with the recent recession on prices and now a mini-boom thanks to lockdown restrictions being lifted and the reduction on stamp duty), there are still windows of opportunity just waiting for investors to take advantage of. If you’re not looking to invest, but instead to buy your first home, this could also be the ideal opportunity to go for it.

The housing market still has a lot to offer

Despite struggling for a few months, there are many amazing properties out there in the United Kingdom just waiting for you – and now could be the ideal time to go ahead and purchase your perfect one. With the pandemic slowing things down, the recent reduction in lockdown measures have caused a surge in sales nation-wide. From the current demand, to the houses themselves; there are numerous factors to consider if you’re unsure of whether this is the right choice for you.

No one’s quite sure on how the overall market will be affected once the excitement of lockdown restrictions has died down, since many of the people currently buying have had months of waiting before being able to make a move. There’s also the fact that more homes are scheduled to be built in the near future and that the break on stamp duty will end on the 31^st of March next year.

Each of these is likely to influence how many people buy and sell, as well as what options are available. 

Is it any different for buyers and investors?

Some individuals may want to buy a home to live in and others may be interested in selling the property on for a higher price down the line – and the good news is that either way, the benefits of the tax reductions and new homes being built can be beneficial for everybody, even sellers.

The different obstacles that have been in place this year affect everybody, but the opportunities and even the potential for profit is high; especially now that more people are willing to sell, as well as the fact that you could save thousands on your purchase because of the stamp duty holiday. 

Where’s the best place to focus your efforts?

There are great opportunities across the United Kingdom, but if you’re looking for the best chance for success, it might be worth considering options in Manchester and the north-west. They were already in high demand across the globe in early 2020, and while things may have slowed down because of the coronavirus, statistics suggest that these areas in particular could see the highest increases in property prices over the next 5 years, with an estimated raise of 24.1%.

Manchester’s property market has already shown strong signs of recovery since the lockdown and it might be worthwhile to take a look at some of the properties that are currently available there.