Despite the trials and tribulations that many developers and house builders face in the UK, supply in the country’s housing market reached its highest level since March this year, writes property developer Richard Carr.
Property supply on the up – but will it continue?
The number of new homes available to buyers increased by 41% in August, which is the highest level experienced by estate agents since March 2016 when there was an average of 54 properties registered per branch.
This has resulted in there being an increase in the number of first time buyers with the National Association of Estate Agents (NAEA) reporting that the number of sales made to new property owners increased in August from 25% of total sales in July to 28%.
New research has suggested that northern cities such as Leeds, Manchester and Liverpool are becoming a hotbed for property investment, writes developer Richard Carr.
Liverpool is leading a northern increase in property investment
Out of the three, Liverpool’s prime stock is experiencing a particularly strong rush, like nothing the city has seen before. Its growing residential market is attracting increasing levels of interest from high net worth investors from the south who are looking for long term deals.
Also, the city – like the rest of the UK – has benefitted from the incoming stamp duty rates which have now become active.
Analysts believe that the residential market in Liverpool has a healthy long term future with prices rising 4% annually, whilst letting prices has an annual growth of 3.46%.