In a recent article by Savills published in Property Industry Eye, they had the following great news about buy to let returns in 2024…
“Residential buy-to-let properties in the North West will be among the UK market’s top performing assets this year, according to Savills.
The agency predicts the segment could offer annualised investment returns of between 8.5% and 9.2% over the next four years.
Savills’ annual cross-sector forecasts also suggest a stronger outlook and opportunity for UK property investment in 2024 as interest rates steady. However, returns will continue to be driven by income potential instead of capital growth, the agency said.
Savills expects to see the “primary sources of financial disturbance” to ease back over the course of next year.
Despite tougher conditions for landlords, Savills forecasts rents to grow by a further 18.1% by 2028. The agency also believes there is still significant opportunity for those less reliant on debt, particularly for those with a portfolio furthest from London.”
Read the full article here.
Head of Financial Services at Right Click Finance Barry Forrester had this to say:
“After 14 consecutive price hikes the BOE held interest rates at 5.25%. Off the back of this lenders started to drop their rates resulting in an influx of sub 5% mortgage products. If the trend continues analysts suggest by the first half of this year there will be sub 4% products available on the market. This positive outlook on interest rates makes it a great year to lock in your BTL interest rate for your BTL purchase.”
Speak to your local branch for more information today.
.png)