International buyers seem undeterred by Brexit, buying up huge amounts of property this year to push the city’s real estate sector to new heights. This year is on track for a new record, with experts predicting this year’s investments could top £20 billion. Driven by London City, the sales show London is still a great bet for property investment.
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While tenants once favoured Zone one and two property for its proximity to central business districts, they’re now looking outwards, choosing high quality homes with great facilities and improved travel links. Luxury property is no longer as coveted, and this sector has experienced a dramatic drop.
The northern maritime city of Liverpool has undergone a vast amount of regeneration over recent years, as part of plans to improve the economy of this once neglected city. In the past 13 years, new city leaders have managed to change the scope of the city’s future, along with the help of an ambitious developer.
London property values have fallen - it's the largest drop in seven years. You can blame Brexit negotiations and higher taxes for that. While many consider London property a law unto itself, others are worried about a possible effect on property values outside the capital. What's the real story?
London's most luxurious homes are set to fall by 4 percent this year, before stagnating for another two years while Brexit uncertainty continues. This means a two-year opportunity for investors wishing to get a foothold in London's most prestigious property market. Prices will start to move upwards again by the end of 2019.
UK property prices have grown by 5.1 percent over the past year, and Manchester property is driving the growth. Manchester area Bury saw growth of more than 13 percent over the last year, while nearby Salford property reached a new high, with growth over 8 percent. Driven by a boom in infrastructure and development, Manchester is attracting buyers wanting an alternative to expensive London property.
Although London house prices will rise by just 1.5 percent this year, by 2019 they will have risen above 2017 figures, a report from Countrywide shows. The lack of supply coupled with recovered UK and global growth will prompt a housing recovery. Meanwhile, prices in the rest of the UK continue to grow.
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The UK economy is starting to pick up the pace and return to growth, new figures show. We can expect 1.7 percent growth this year, followed by 2 percent by 2019, analysts say. This is due to increased global demand for exports as the world’s fortunes improve. Despite dire predictions, property investors are also buying up large in London and elsewhere around the UK.
It’s one of Liverpool’s most iconic landmarks, so the news that Everton shareholder Farhad Moshiri is behind the Liver Building’s multi-million pound purchase has set tongues wagging. The news is set to precipitate a wave of foreign investment in a city that’s already going from strength to strength.
Official figures show price growth has slowed - but this shouldn’t deter potential buyers. While a number of buyers have been deterred by low wages, Brexit, and higher deposits, undersupply means demand will never completely wane and experts predict prices to rise by 13 percent over the next four years.
Prices are rising and the number of buyers and sellers is also on the increase, allaying fears of a UK property slowdown. Sales were up by almost 5 percent over June 2016. Market wobbles are being balanced out by low interest rates, low unemployment and high demand.