We've said it before, and we'll say it again: if you're a landlord looking for long-term success, perhaps it's time to move northbound.
Now, the market in London started to lose momentum around three years ago, with properties in the heart of the city dipping by as much as 10% since their 2014 peak. And because of a possible recession, driven by Brexit, these prices could fall even further.
Speaking to Landlord Today, Paul Cosgrove of Finlay Brewer said:
“2017 saw the number of transactions in London fall, as Brexit caused buyers to prevaricate and hedge their bets."
Despite some property investors in the London area stating that this loss of momentum could actually serve to boost the market this year with stagnating prices encouraging more transactions, many experts in the capital aren't so optimistic.
Speaking on the subject, a spokesman from North London estate agent Jeremy Leaf explained:
“Where prices have risen the farthest and fastest in the London property market, making it effectively overheated, we expect it to be relatively flat next year.”
The general consensus is that this year, the housing market in and around London will remain sluggish; however, according to recent studies, property prices in the UK, on the whole, are expected to rise by at least 1% this year, with a predicted boom further north.
That said, if you're a landlord looking for a bright and prosperous future, investing in the Potteries will prove an incredibly smart move in 2018.
Not only was Stoke-on-Trent crowned as the UK's official buy-to-let hotspot last year, but with a host of local as well cultural developments underway as we speak, and superior transport links to Manchester, Birmingham and London (among many others notable things) - you really can't go wrong.
Stoke-on-Trent is a city on the up and if you invest now, you’ll reap incredible rewards tomorrow - and long into the future. Want more reasons to invest in the area? Check this out.