As demand continues to outstrip supply, and increasing rental prices make home ownership increasingly attractive, property remains a good way to make the most of your money.
Buying a home is likely to be the best investment most people will ever make, with a recent survey[1] showing that the majority of homebuyers continue to be positive about the property market. 88% believe that home ownership remains a good long-term investment.
The findings also show that 72% of buyers think that house prices will either increase or remain stable over the next 12 months, with only 28% of those surveyed expecting that home values might decrease in the same period. Longer term, (2019-2021) these figures change to 80% and 20% respectively.
A realistic outlook
Overall, purchasers have a realistic approach to the medium and long-term outlook of the property market, particularly as demand for homes continues to outstrip supply, and rental prices increase. In fact, private rental prices in the UK jumped by 15.6 % between January 2011 and January 2018, with
higher leases having a significant impact on renters’ quality of life.
So, even with an awareness that prices might fall in the short-term, savvy buyers have faith in the long-term value of owning their own home.
A lifetime investment
Buying a home continues to be a solid financial investment and with an increase in property supply and new measures introduced to rebalance the market, things are improving for buyers. In fact, the number of first-time buyers has reached a decade high.
Our professional team at LPL can guide you through the transaction process as well as easing any worries you may have. Speak to us today by calling 0333 305 5249 or visit our website at www.lpropertylawyers.co.uk
[1], Essex and Suffolk based estate agents and chartered surveyors.
