The last few years have certainly been a turbulent period for the UK property investment market. From Brexit negotiations halting people’s faith in the market to the coronavirus outbreak changing how we live, work, and invest, there’s been a lot for investors to adapt to. During the uncertainty that currently surrounds both the property market and the economy, many investors are currently asking the question ‘should I invest in property right now or wait?’. Contrary to common belief, now is one of the best times to invest in UK property. If you’re a frequent or first-time buyer who’s feeling cautious about whether you should invest during this time, make sure you read this guide.
Brexit has had the biggest strain on the UK property market in recent years, although the impact that Brexit had on property prices was not as dramatic as first expected. Following the EU Referendum on 23rd June, both a drop in average house prices and a dip in property market activity had been recorded. According to market data recorded by Halifax, property prices in the UK fell by 1% in July 2016 – a much lower drop than the 10% decrease predicted by the Treasury back in May of that same year. Fast forward to October 2016, and there had been a sharp rise in the price of UK property, with house prices having risen by £2,623 in just one month. By October 2017, UK property prices had grown by 4.5%, and have continued to grow well into 2020, especially in key regions like the North West. While these figures presented a bad outlook for the market as a whole, UK property prices began to recover quicker than expected.
Is Now a Good Time to Invest?
If you’re a first-time buyer in the UK property investment market, the time to start investing in UK property is now. When others who would normally be buying and selling investments of their own are behaving cautiously, the most successful investors are those who act fast and take advantage of every opportunity to build wealth. There’s a lot of evidence to suggest that right now is the best time to buy property for investment purposes. While past statistics have shown that property prices tend to drop following rocky periods, this period of low growth is often short-lived. The property market has shown time and time again how resilient it can be, and many savvy investors are taking advantage of recent economic changes that can help them get the most out of their investment.
Many international investors, for instance, have been investing in the UK property market as of late. With the value of the British Pound against the Dollar having fallen following the worldwide coronavirus outbreak, overseas investors have been able to take advantage of huge discounts on UK property and maximize their investment returns. While the stock market saw a turn for the worst in March, the property market has opened new opportunities for investors wondering what to invest in now in the UK. A lot of investors who had tied up money in the stock market are instead choosing to purchase buy to let property and reaping the benefits. International investors aren’t the only group benefiting from below-market rates. Several UK developers, including those behind upcoming off-plan projects available with Vogue Properties, have been offering temporary discounted rates on their properties.
Savvy investors who are prepared to negotiate will find that they’re able to get the most for their money on top of the already below-market rates that come with off-plan properties. Those who were already thinking about investing have found that by buying property in today’s market, they were able to use the extra cash they’ve saved from discounted property rates and put this towards another investment or save the lump sum of cash for future ventures. Those who recognize that now is the best time to invest in property will find that by the time the Covid-19 pandemic has ended, the property market will recover, and investments will have grown significantly in value. If you have the funds available, rather than simply leave your money untouched or dwindle away huge amounts on home improvements, getting started with investing could help you build wealth over time. For high rental returns, enhanced capital growth and the lowest possible rates, don’t hesitate to explore UK buy to let opportunities.
If you’re still wondering ‘should I invest in property now or later?’, asking ‘why to invest in property right now?’, and feeling unsure about what to invest in now when it comes to UK property opportunities, get in touch with Vogue Properties. We’re happy to discuss potential offers currently available and help open your eyes to the fact that the time to start investing is now. During this unprecedented time in the market, we’re utilizing all online investment tools, allowing potential buyers to take a virtual tour of their property with the help of virtual reality to keep our staff and investors safe. If you would like to enquire about getting started with property investment and would like to take a virtual tour or viewing of one of our properties, please contact us today for more information.