Property Market Update - April 2021
Who would have thought entering into Brexit and the impact of Covid that the UK property market would remain this buoyant. We have witnessed continuous growth across the majority of the UK and record asking prices being achieved.
Fuelled partly by the drop in available properties, down 30% compared with last year and with demands of buyers evolving the amount of sales being transacted has skyrocketed this year already.
Annual price growth has excelled particularly well in areas that are more affordable to buyers. Manchester and Liverpool have seen that highest growth rates of 6.5% and 6.3% respectively.
Continuous regeneration is vital to any property market and over the past few years we’ve seen an influx of regeneration across all of the UK. This month, Goldman Sachs published news of their commitment to Birmingham with the announcement of a new regional office there.
The City of London has announced major plans to convert vacant office space into new homes, potentially bringing more than 1,500 new homes to the market over the next 9 years.
And finally, Kings Cross has announced plans to becomes UK’s first green gas neighbourhood which will reduce their carbon footprint of 31,000 tonnes by 50%!
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