Property Trends for 2020
With December now in full swing and the new year ahead, many will be thinking about 2020. This is especially the case for property investors, wanting to understand how best to approach new investments and manage their existing portfolios.
This is why below we take a look at the top property trends investors need to look out for and consider going into 2020.
Whether looking to buy an investment property in 2020 or sell one, you will be interested in where the UK stands on house prices. According to various sources, we can expect to see an increase in prices across the country, with our relatively stable political position responsible for that.
“The February Budget will no doubt affect the market, especially if there are reforms for first-time buyers, however it’s largely expected that confidence will somewhat return and house prices will increase. We estimate that the rise will be in the region of 2 to 3%.”
First-time buyer market
First-time buyer activity is important to be aware of as a property investor. If activity is high, you know you can sell a property on easily. And if low, you may want to consider your options on the rental market. Apparently, in 2020 we are expected to see a dip in first-time buyer activity, with the scrapping of Government-supported FTB ISAs having its impact.
The Base Rate, which is the interest rate that a central bank such as Bank of England will charge, will have a bearing of mortgage affordability in 2020. Popular estate agent, Savills, forecasts a slight increase to 2%.
Property investment through The Sandhu Group
If you are looking for advice or support in making the right property investment choices in 2020, contact the Sandhu Group.