There has been a lot of talk in the media recently about the UK housing market, with the spectre of Brexit looming large in the minds of many homeowners and investors. Over the past couple of years, the property market has slowed down, with fewer people selling and buying homes.
As always with these things, it’s difficult to know whether people are buying and selling less because of uncertainty about the future of the market, or whether there is uncertainty about the market because people are buying and selling less.
Causes of the market slow-down
One of the biggest factors is the change in the buy-to-let world. Back in the 1990s and early 2000s, investing in rental property was a sure-fire way to make money. The sector was booming and property prices were rising so rapidly that even novice investors could reap great rewards simply by holding onto a property for a couple of years, then selling it for a huge profit. This is no longer the case, so investors need to be much savvier about where they spend their money.
Reading likely to maintain property prices
If you are interested in investing in property, and the events of the past decade haven’t put you off, Reading remains a good location for buy-to-lets. When it comes to reputable conveyancing solicitors Reading has many, including https://www.samconveyancing.co.uk/conveyancing-solicitors/conveyancing-solicitors-Reading.
Whilst it’s hard to predict the future of the housing market, the good news is that prices in Reading are likely to remain stable. The global crash of 2007 is unlikely to be repeated, as the sub-prime lending landscape of the years leading up to that has been completely overhauled. The main issue facing investors and buyers is likely to be increasing interest rates. Rates have been kept low for several years now, and it’s unlikely they will rise considerably in the near future.
As one of the UK’s most prosperous areas, according to Living Reading website and as a popular commuter region for London, Reading is likely to be able to maintain current property values, and any nationwide drop in house prices is unlikely to have much of an impact here.
Anyone looking to invest in property in the Reading area will probably find favourable conditions compared to other parts of the country.