Higher prices and faster sales show the UK’s property market has truly bounced back
The resurgence of the UK property market is something that has been welcomed by sellers and purchasers alike, as prices rise and transaction numbers increase. Now, the time taken to sell properties is falling too – a further sign of buoyancy in the UK’s recovering market.
Rising prices
Data from the December 2013 edition of the Land Registry’s House Price Index shows an average monthly rise in house prices across England and Wales of 1.1%. The positive figure means the annual price change has now reached 4.4%, as the market recovers across the UK.
The report also demonstrates the resurgence in terms of transaction numbers. July to October 2013 saw a total of 72,507 transactions, up from 59,065 for the same period in 2012.
Reducing timescales
In addition to rising prices and the increased number of transactions, new research from Hamptons International has also shown that the time between advertising a home for sale to agreeing a price has fallen by nearly two weeks since 2012. The data shows that during the last quarter of 2013, the process took less than 8.5 weeks on average.
The figure is backed by the latest data released by Home.co.uk, which found that the average property is now on the market for three days fewer than it was in February 2013.
In practice
Property investment specialists Property Frontiers have certainly noticed the market picking up for their northern England buy-to-let investment opportunities. Their luxury city centre apartments in Bradford and prime waterfront apartments in Liverpool are now taking an average of just 13 days per sale, while their stunning completed apartments in Manchester are taking just 5 days on average. Chief Executive Ray Withers comments,
“We’ve seen a trend of the market picking up for some time in terms of transaction volumes increasing and sale times reducing. The north of England is the place for buy-to-let property investment at the moment and a growing number of investors are awakening t the potential of cities such as Liverpool, Manchester and Bradford.”
A market leader
With their thorough, investor-led approach to property investment, Property Frontiers has pledged to continue innovating in terms of the opportunities they offer as the UK market continues to recover. Their Bradford apartments, for example, which are offered through the company’s established partnership with Aspire Citygate, include a bond that is used to insure investors’ deposits.
The bond means that for the one bedroom apartments, which are priced at just £50,000 (25% below market value), a deposit of just £10,000 is required until completion, which is fully protected by the deposit bond. It is through such touches that Property Frontiers has ensured that it has remained a market leader throughout the UK’s recession and into its recovery.
If you would like to know more about Property Frontiers’ fantastic UK buy-to-let opportunities, get in touch today.