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Why you should buy a property in 2019

Why you should buy a property in 2019

Over the last 14 years, it was those investors who bought property in the UK in 2009 following the global financial downturn, that have made the largest profit when selling their asset(s). Will there be echoes of this after 2019?

The unease and unsettlement caused by the UK’s withdrawal from the European Union means that a few investors may be waiting until a final conclusion is reached before entering the property market. Although, the subsequent fall in the pound has led many other investors to take advantage of this opportunity by buying property now.

New data suggests that it’s the latter group of investors that could be about to achieve the highest levels of profit in the following years.

Published by Savills, the new research shows that between 2004 and 2018 it was investors that bought UK property in 2009, amid the fallout of the global financial recession, that achieved the biggest gains when selling their property in 2018.

On average, those buying UK real estate in 2009 made £93,378 when selling their asset last year. It underlines the importance of purchasing with the right market conditions – and taking advantage of wider economic uncertainty.

Lucian Cook, Residential Research Director at Savills, said “Over the last 15 years it really has made a difference as to when and where you bought in terms of the profits you’ve made. It reinforces that it’s not a one-size-fits-all market.”

“The mortgage markets (in 2009) were locked up, but I also suspect some of this is about whether people were brave enough to do it and whether some people in 2009 had enough accumulated equity at that point to be able to make the move.”

At the time of this article being written, the pound is 11% cheaper against the US dollar than it was on June 22nd 2016 (the day before the Brexit referendum), and many investors are taking advantage to ensure they can secure a property at the best value and with the best long-term growth prospects.

For more information on Brexit and it’s effect on the housing market, specifically the North-West housing market, click here. As always thank you for reading, and be sure to follow our page(s) on Facebook and/or Instagram for more articles every Sunday.

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