Falling interest rates boost UK property demand
In the past month or two, a large range of lenders have reduced a variety of their mortgage rates, in line with the base rate reduction on the 5th February to 4.5%. This is an exciting turn for those waiting for a lower rate with deposits ready to go, especially in the first-time buyer market, and is further contributing to the boost.
Investors benefit by lower investment rates
In the buy-to-let sector, the drop in interest rates will boost the affordability almost immediately, meaning investors who were holding off for these reductions are ready to act straight away and reap the benefits of these drops. A lot of investors are balancing the reduction in rates alongside the Stamp Duty changes, wanting to act before the freeze ends while still achieving the best possible mortgage rate for their investment.
Best areas for the strongest yields
The North of England has been the strongest area to invest in property for many years, and while the rest of the country is making good progress to offer a strong investment, but areas including Manchester and Liverpool continue to take the market by storm, offering the highest demand and the strongest yields for investors across the globe.
If you’re looking for investment opportunities and want to learn more about the hotspots in the area, reach out to our property consultants today.
