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Should I Invest in Property in the UK in 2019, and if so, Where?

There is a lot of debate surrounding the pros and cons of investing in property in the UK given the current economical and political situation that we’re in. The uncertainty surrounding Brexit is one of the key factors in people’s uncertainty in investing in the UK property market in 2019, and with Britain’s exit from the EU looming ever closer with a lack of certainty, it’s no wonder. If you’re thinking about investing in a UK property, but you’re not sure about when to do it or where to invest, reading on might give you just some of the answers that you’ve been looking for.

How has an Impending Brexit Affected the Market so far?

Brexit is coming ever closer, and it’s safe to say it’s had a fairly large affect on the housing market in the UK ever since the 2016 referendum. In the September of 2018, surveyors gave their lowest forecast for future housing prices, and it was said by Mark Carney that if we go through with Brexit on a no-deal basis, house prices could decrease be up to as much as 35%. Having said that, a lot of the effects that have taken place have affected mostly properties in London, and those in a particularly high price range. Across the rest of the country, the average price of housing actually appears to have risen because of the propel of regional markets. The weak pound, however, is still falling in comparison to other currencies which makes it more appealing for foreign buyers to invest in UK property. So surely, it’s not all bad?

What Would a No Deal Brexit Mean then?

It’s worth mentioning, that we are still living in times of uncertainty and don’t know how the Brexit deal will even end up taking place. However, a lot of companies have started taking measures to avoid supply chain disruption. The demand for housing in the UK still appears to be going strong also, with roughly 13% of all commercial investment activity still going strong throughout the country. However, it’s impossible to say how the housing market will be affected by a no-deal Brexit until it actually happens. This being said, before investing, you’ll want to ensure that you have a fallback – meaning that if your investment doesn’t work out for you in the way you’d planned, you’ll be able to sell the property on quickly and efficiently. Regardless of the real estate market, you’ll be pleased to know that there are in fact other options out there that are available to you. Companies such as https://www.readysteadysell.co.uk/we-buy-any-house/ claim to value any home for free, and then buy it for cash, meaning that you don’t have to pay estate agent fees, or sit around wasting money on the property itself whilst waiting for it to be taken off the market. This is definitely a good fallback for investors who are unsure.

So where are some of the best places in the UK to invest in property right now?

Leicester

Surprisingly, in the midlands, Leicester is expected to continue to grow in the future. Since 2000, properties in Leicester have increased in price by over 250%, with it expecting to become even better. Another reason that Leicester is looking more and more attractive to investors, is because of its future investment and regeneration worth three billion pounds. Plus it’s only an hour away from London on the train, so you’ll have easy capital city access, without having to pay capital city prices. This is also good news for those who want to commute into London for work.

Northampton

Northampton is currently listed as one of the best places in the entirety of the UK in which to currently invest in property. The average home in the town that goes up for sale, is proven to be taken off the market in as little as thirty-three days – and that’s the average! This is particularly good news for investors who are conscious that they may need to sell on in the future. The housing prices in Northampton themselves also increased by 5.3% in 2018, which is actually more than the national average.

Edinburgh

One of the most artsy and beautiful cities in the world, Edinburgh is looking to undergo some city centre regeneration. The economy in Edinburgh itself was one of the fastest growing in the entirety of the UK last year, and this makes moving to this city all the more desirable. This is a good option for those wanting to move or invest further North, because why should the South have all the monopoly on investment? There is just as much to offer in Edinburgh as there is elsewhere, if not more in the department of culture and jobs.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.

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