An opportunity to keep one's eyes on is that demand still outstrips supply. The rate of new building is not expected to gather enough momentum over the next 2 years to catch up with previous shortfalls. Inflation will also continue to make it challenging for first-time buyers to get on the ladder despite the lowered value of the Sterling. But it is expected that the UK economy will recover and wages will pick up in response to the global economy.
According to reports, the biggest challenge for property investment will be Brexit. The real estate market is fragile at its current state which will be affected by the outcome of Brexit negotiations and its foreseen implications. Employment is most certainly a parameter being closely monitored.
Average price of a 2 bedroom flat in inner London for Zones 1 and 2 is estimated at £795,000. The average asking price in the outer regions for the same type of property is £518,000.
In turn, average asking prices across England and Wales have risen 3.1% to £312,000 over the course of a year.