It seems as though the property market in the north of the county appeals to a separate type of buyer right now.
Property investment is a great opportunity for many
Dale Anderson, a Managing Director of Fabrik Invest, has reiterated that it is time for investors to look beyond London to the North of the country. Dale said; “Looking ahead ten years, it’s easy to imagine that nine out of the next ten property hotspots will be in the North. We’ve seen a huge shift of investor interest from South to North in recent years. That’s because northern cities are delivering greater potential for capital growth, better yields and strong, sustained tenant demand.”
This is in line with what Savills tip for the housing market, placing the North of the county at the top of the pile for projected property price rises. For the period between 2021 and 2025, house prices are expected to grow by 28.8%, the largest rise across the UK.
Now, if you plan on selling your home, you might decide it is better to wait until the house prices rise, and you will receive a better price when selling your home. However, if you intend to buy a new home when you sell your current one, you need to factor the house price into what you expect to pay.
Vendors can feel confident about the sales process
With the high level of demand for homes right now, vendors can feel confident about the sales process. We are pleased to say we have assisted many local homeowners go to market, and connect with buyers. If you would like guidance on this matter, or any property topic, please get in touch, and we will be more than happy to assist you.
Dale Anderson also said; “The Northern Powerhouse initiative opened a lot of investors’ eyes to the potential of the North. At the same time, so many ‘best place to live’ type accolades are going to northern cities. Add in the fact that increased working from home has cut many families’ ties with specific locations, meaning they can head north in search of better value, and there’s a clear case for this region leading the UK over the coming decade.”
With a greater number of property investors looking to the north of the country, the demand for property is even higher than you would expect. You aren’t just potentially selling your home to people like you, there are buyers who are keen to snap up property to let out.
It might be that you would prefer to sell your house to a household similar to yours, who will appreciate it. However, most vendors are keen to connect with the buyer who makes the best offer. The greater the number of interested parties, the better for buyers, and this is why the current climate is appealing to people considering selling their home.
As local agents in Newton-le-Willows, we are keen to support vendors, buyers and landlords in the area as best we can. We offer an extensive range of services, aimed at helping you make your next move with confidence.
If you would like to arrange a property valuation, or discuss your property options, please call Fraser Reeves on 01925 222555.