NOW is the Time to Invest in Northern Property – Here’s Why

It’s no secret that the Northern Property market offers attractive returns for Northern investors. In Manchester alone, the average house price is over double that of London, and is just one of many Northern cities that show promising opportunities for investors. And in a recent study released by Property agent Savills, a spotlight has been put on exactly what investors across the UK can expect of house prices over the coming five years. And if you’ve got property in the North – it’s good news.

According to the report, it seems now is a good time to be invested in property, wherever you are.

2020 will be slow, but not without some growth. A 1% increase in house prices is expected across the UK for the year. After this slow initial growth post-Brexit, the outlook will become more promising across the UK going into 2021; As the UK’s trading relationship with the EU and other major trading partners strengthens, it will bring with it more confidence into the economy, heralding a 4.5% growth nationwide.

From 2022 onwards, the forecast continues to be positive – an expected 3% average year-on-year growth across the UK. And with each year expected to bring positive growth in house prices, things are certainly looking up for British property. But what kind of growth can be expected on the whole?

If you’ve got properties across the UK, the future looks bright – a 15% overall growth on the average UK house price. If you’re highly invested in London, you might be less pleased with the 4% growth in house prices that is forecast.

For investors with a foothold in the North-West, it’s a different story entirely – a 24% growth forecast over the next five years. To put that in perspective, that’s nearly six times higher than in the nation’s capital.

Of course, no one can know for certain how upcoming events will affect the economic markets and the property sector. But if Savills forecasts provide a reliable measuring stick to go by for the next five years, then the outlook is certainly promising.

Safe to say, if you’ve been on the fence about investing in Northern property, it may well be time to take that all important first step.

To discuss an investment plan in Northern property tailored to you, get in touch with us at SA Investments today.