In the UK, property prices have been rising steadily for several years. One prediction is that just a decade from now, prices may be as much as 50% higher than they are currently. Although this seems like a lot, the fact that house prices rose an average 7.82% between 2013 and 2014 make that 50% seem far more likely to be reached less than ten years from now.
In the Midlands and the North of England, property prices are steadily slowing, meaning that in 10 years, the price of a property in London could easily reach a million pounds. Meanwhile in England’s South and East, property prices continue to accelerate. And amid all of these numbers, it seems that the benefits of investing in property in Nottinghamshire have gone largely ignored. There are actually many reasons for investing in property now.
The East Midlands Property Market Remains Lucrative
The UK’s property market is a primary driving force for the economy, and has always been a risky venture with all manner of peaks and valleys to prepare yourself for. But, it remains a lucrative venture, especially in the East Midlands, even if you only plan to invest in one property. Combined with low mortgage rates, this generates the perfect conditions for successful investing.
Tenant Demand on the Rise
For those looking to start a property business, a by-product of the continuing rise in house prices, as well as a desired change in lifestyle, are causing more and more individuals to look for lower payments by pursuing home and flat rentals. All told, the increase in tenant demand has been significant, with an average of five people competing for a single rental property. This increase is expected to continue.
As well, the increasing mobility of the workforce is seeing a higher number of people looking to share accommodation, which is both more affordable and allows for more money to be saved for a large property or other purchase in the future.
Benefits of Investing in Property
There are many benefits to property investment. Not only can you run a property business from anywhere in the world, but you can enjoy sustainable business growth that’s also profitable. As well, rents are currently at their highest in this country, which means ever-climbing yields for property owners.
For those looking to begin a property business, both direct and indirect investments are available. A collective property fund can allow would-be business owners to own property without the high cost. This is done by entering a pool of investors, from which a professional manager collects money and then invested into shares of property or in the property directly. Collective funds are available in many forms, including property unit trusts, REITs (real estate investment trusts) and offshore property companies.
Those who wish to purchase property for themselves can also enjoy many benefits. As current numbers predict, the value of a home will only increase over the coming years, which can mean a large return if the property is sold.
Is this information Enough to make a Decision?
Although the numbers are in, predictions about the property market have been made and the many benefits of property investing remain, some will inevitably wonder when is the best time to take the property investment plunge.
The truth is that now is as good a time as any to invest. But whether or not you do so is an individual decision. Investing in property does involve taking risks, but the key is to be satisfied with the level of risk being assumed, as well as to be able to manage that risk.
Property investment is not something that should be entered into lightly. Much consideration needs to be made before making the decision to invest. It may be that you need a professional to help you determine the best course of action before going forward.