Buy-to-let has long been a popular investment option in the UK, with investors looking to capitalise on rising property prices and strong rental demand.
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.
There is a trend that is very obvious in certain cities in the UK. London, Manchester, Leeds and Brighton, as the UK has been suffering with an ever-growing issue when it comes to available properties for residents.
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.
Short-term lets or Airbnb investments have always been an option for investors, but it has become more popular now that investors realise that they can significantly increase their returns.
On the 10th of November, the 2022 Manchester Christmas Market officially opened to the public. The main market is situated in Piccadilly gardens, but stalls are spread out over six other separate areas.
