One of the more interesting aspects of this GetAgent poll is that the UK sits so highly in the eyes of people looking to purchase property across the globe.
However, looking closely, you can see that the UK property market offers numerous benefits to potential buyers. For instance, if you’re a buy-to-let investor from overseas, you may be attracted to specific areas in the UK due to their good-value house prices and alluring rental yields.
The UK House Price Index reports that, as of January 2024, the average property price in the UK stands at £281,913, showing a 0.5% increase compared to the previous month.
The UK property market has historically remained resilient despite economic uncertainty. Despite the ongoing COVID-19 pandemic, average prices surged by 10% in 2021, marking the highest growth in years.
Demand for residential properties stays strong in 2024, fuelled by a housing shortage, reasonable affordability, and a preference for larger homes due to the rise in remote work.
However, regional performance varies. Cities like Liverpool and Manchester continue to experience steady demand growth, while other areas may see stagnation or slight declines.
As of February 2024, the latest HomeLet Rental Index indicates that the average monthly rent in the UK stands at £1,262 PCM. Considering the average property price, this results in an average gross yield of 5.37%. However, certain regions in cities like Liverpool boast yields as high as 7.57%.
For more information on the UK property, see some of our buy-to-let area guides:
