Our team has a background in both property and unregulated lending which gives us a wealth of knowledge, experience and understanding of the challenges property professionals and developers face.
We are mainly concentrating our efforts on the North West of England as this is an area our team know well and see the capital growth in this region to be the best in the UK over the next 5 years, this is according to a report by global real estate services provider Savills PLC.
Although our focus is on the North West of England we will evaluate every opportunity that is presented to us in other areas.
In 2015/16, the UK government identified the North of England as an area of growth and set out a vision for a Northern Powerhouse, defined by a vibrant and growing economy, a flourishing private sector and a highly skilled population able to make the most of the great opportunities that the North has to offer.
NORTH WEST OF ENGLAND PROJECTED GROWTH
New figures show that the North West region of England, which is home to cities including Manchester, looks set to post the strongest 5-year property price growth in the UK.
- Average property prices in North-West England are forecast to rise 24.1% over the next five years
- UK property prices collectively are predicted to rise 15.1% by 2024
- Average values in London are forecast to rise just 4% over the same period
- It underlines the North-West’s strength as a property investment location
The North West region has long been renowned as one of the UK’s high-growth areas for property investment and now new data from Savills reveals that, as Britain begins to recover from the COVID-19 pandemic, it will be property prices in the North-West of England which will lead the price growth recovery over the next five years.
With a downturn in prices of 7.5% across the UK, and many developments and refurbishment projects shelved, it is a good time to acquire stalled and distressed properties.
Published in this is money, Savills has warned that it naturally expects all regions in the UK to see growth plateau in 2020 as a direct impact of coronavirus and lockdown measures. However, property is of course an investment for those buyers that take a long-term view. Over the next five years, Savills’ baseline projections suggest that average UK property prices could rebound and grow 15.1% by 2024.
When broken down by region, the figures show that North-West England will post the strongest average property price growth in the UK over the next five years. Savills predicts values in 2021 will jump by 8.5% and 9% in 2022, with total growth of 24.1% by 2024.
Home to key regional cities including Manchester, global property investors are continually drawn to the increased affordability and strong rental returns of the North-West, compared to the costlier and lower-yielding markets in London and the South-East. Savills only forecasts average five-year property price growth in London of just 4% in comparison.
Manchester, as a city has experienced strong economic growth in recent years, coupled with a rising population of young graduates and professionals, property in the region has struggled to keep pace with growing buyer and tenant demand.
With UK industry beginning to emerge from lockdown, developers should be encouraged by this new price growth data for the North-West, with cities such as Manchester likely to play a key role in the UK’s post-coronavirus recovery.