As we step into the meteorological spring, the UK property market shows signs of improvement, though with a patchy and volatile activity across regions. In this video, we delve into the latest trends, data, and forecasts that are shaping the UK property landscape in 2024.
🏠 Market Highlights:
Property sale transactions have seen a 15% increase year-on-year, with London and the North East leading in activity.
A record-breaking day for property exchanges in central London, marking the highest in 11 years for properties above £5 million.
Continuous growth in average UK house prices, with Nationwide and Halifax reporting monthly gains.
📈 Economic Insights:
The Spring Budget's impact on the property market, including the withdrawal of Multiple Dwellings Relief and changes affecting furnished holiday lettings.
Potential shifts in the rental market due to tax changes and the sales market's reaction to lower Capital Gains Tax bills.
🚀 Opportunities Amidst Challenges:
Dramatic rent price increases have led to attractive investment opportunities, with indicative gross yields rising.
A new investor profile emerges, focusing on high-quality, professionally managed properties for long-term investment.
🌍 Looking Ahead:
The Budget's focus on growth sectors and the potential impact of tax system changes on non-doms and inward investment.
A cautiously optimistic outlook for the UK property market, with expectations of continued transaction growth.
🔍 Explore More:
Interested in finding the best places to live or considering a property purchase in 2024? Check out Garrington's comprehensive guide and interactive location explorer for expert insights and guidance.
The full results of our Best Places to Live research mentioned in the video can be seen here:
www.garrington.co.uk/best-pla...
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2 июл 2024
