As prices of properties in the UK begin to settle, the nerves and worries from potential investors have started to lessen. The rental market is thriving as more people are starting to see the benefits of renting, especially professionals.
Manchester is one of the UK’s most lively cities, with many considering it to be the UK’s second capital after London. From its bustling city centre to its rich cultural heritage, Manchester has something for everyone.
2022 was a year that had several ups and downs for the property market, with instabilities in the economy caused by the multiple changes in government seeming to unsettle investors.
In December 2022, the UK average rent was £1,118 which is 11.5% or £120 higher than it was in December 2021. The two UK cities that showed the largest increase in average rent were London and Manchester.
Mortgage lending fell by over a fifth in December 2022, as mortgage rates in the United Kingdom have continued to drop following the spike late last year.
As prices of properties in the UK begin to settle, the nerves and worries from potential investors have started to lessen. The rental market is thriving as more people are starting to see the benefits of renting, especially professionals.
Mortgage rates have risen and house prices are even expected to fall by between 5%-10% in some parts of the country.
Having said that, some areas will recover much quicker depending on supply and demand constraints.
Amidst all the panic and chaos that has surrounded the economy in October due to the policies of the previous Prime minister and chancellors, we at NPG celebrated a record-breaking month.
Mortgage rates have risen and house prices are even expected to fall by between 5%-10% in some parts of the country.
Having said that, some areas will recover much quicker depending on supply and demand constraints.