Wednesday 20 December 2023
It's almost the new year, and here are 5 reasons why you should be considering investing in property in 2024!
Savills have projected a 1% increase in UK property prices for 2024, with certain regions set to see better growth than others. The longer you delay a property purchase, the less you'll be able to afford in the future.
2. Rental increases:
Rents are increasing at a pace unseen since records began, outpacing earnings for 21 months in a row. Predictions from JLL suggest that Manchester, Birmingham, and Bristol will each experience rental growth of over 18% from 2023 to 2027 as these areas benefit from huge regeneration, job opportunities and rental demand.
3. Future-proofing you and your family's finances:
The term' safe as houses' didn't come out of nowhere. Property is a sound place to invest your money in the long term due to the increase in house prices. Whether you hold your property long term and use the capital growth accrued for your own pension pot, or gift to your children to give them a good start in adult life, investing in property is a popular option to future-proof your finances.
4. Diversifying your income:
The reason for investing in property will be different for every individual, but adding another income stream is always a good idea. Cash flow from rent can help you reduce your hours at work, increase your savings and help you have a more enjoyable life.
5. Money eroding in the bank:
With the increase in inflation, money kept in the bank will be worth less and less as time goes on. However, property benefits from increasing inflation. Therefore putting your money into property over a bank would be the wise choice.
We are here to assist you on your property journey! When you work with ERE Property, we take care of the ENTIRE process for you, so that you can start your property investment journey with the experts and without all of the hassle & stress!
If you're considering investing in property, we have a variety of fantastic investment opportunities in property hotspots throughout the UK. Click here to take a look at our current options.