Welcome to 2017: A Year of Opportunity for British Property
The UK property market is a dynamic entity globally renowned for its commercial and residential developments. Its appeal is particularly strong to both domestic and foreign investors looking to consolidate and expand their real estate portfolio. With key political and economic announcements due over the coming months, 2017 is set to be another year full of opportunity for established and prospective property investors.
Figures released this week revealed that UK house prices rose by an average of 4.5% over the course of 2016 – the same rate of growth as in 2015. This shows that market adjustment to the Brexit referendum result and record-low interest rates has had little impact on investor demand for property, once again demonstrating its strength as one of the cornerstones of the UK economy.
One particularly prominent real estate hotspot is London. With steady residential developments and an internationally competitive market, the average house price in the capital has boomed from £257,000 in 2006 to £474,000 in 2016. Looking to the coming 12 months, international investment into London property is likely to increase with foreign investors taking advantage of the lower pound and seizing commercial and residential real estate opportunities in the city’s established and emerging precincts.
For investors to take full advantage of the property opportunities on offer, access to fast and effective loans is vital. The inherent competiveness of the UK property market means that investors must have quick access to bridging finance to ensure they are not being pipped to the post. In the coming weeks, MFS will be releasing a new report revealing the key reasons as to why prospective buyers have missed out on potential property purchases. In the lead-up to this report’s release, be sure to have a look at our current content library to see how bridging can help support your property investment strategy in 2017.