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@ThePlace | Manchester Estate Agents

Where to Invest in Property in 2024

placelogofinalwebsite
@ThePlace | Manchester Estate Agents

Where to Invest in Property in 2024

Where to Invest in Property in the UK in 2024?

Discovering the top places to invest in property in 2024 in the UK involves a thorough analysis of various crucial factors. These include historical performance, current returns, and future growth potential. We categorise these factors into areas like property prices, rental yields, tenant demand, transportation links, employment opportunities, population growth, and affordability. This examination brings us to identify these prime locations for buy-to-let investments in 2024:

  • Birmingham
  • Derby
  • Leeds
  • Manchester

By considering these points, we offer a comprehensive view of the UK's most promising property investment areas in 2024. This includes both traditionally favored and emerging locations with strong return potential.

where to invest in property in 2024

Why Birmingham is a Premier Choice in 2024

Birmingham, with an average property price of £244,741 and an impressive average rental yield of 6%, remains a top pick for 2024. The city anticipates a significant price surge of 19.2% by 2027. Key factors driving this growth include:

  • Predicted population rise to 1.24 million by 2030
  • Increasing tenant demand, especially from young professionals
  • High graduate retention rate of 41%
  • Strong focus on one and two-bedroom city-center apartments
where to invest in property in 2024

Exceptional transport links, including Grand Central and Birmingham International Airport, further bolster Birmingham's appeal. If you're considering where to invest in property in 2024, Birmingham's robust growth and infrastructure developments, like HS2, make it an excellent choice.

Derby: An Emerging Investment Hub in 2024

Derby, with its average property price of £229,437, offers a rental yield of 4.4%. It's forecasted to witness a 20.5% price increase by 2027. Key attractions include:

  • 17 universities within an hour's travel
  • A young, graduate-rich population
  • Significant growth in rental demand and prices
property investment 2024

Derby's blend of youthful energy and strategic location makes it a standout option for property investment in 2024.

Where to invest in property in 2024? The North West.

Leeds: A Northern Powerhouse in Property Investment

Also, Leeds, known for its vibrant economy and large student population, is another top contender. With an average property price of £248,931 and a rental yield of 6.5%, Leeds is ideal for investors seeking strong returns. Its forecasted price growth of 14.2% by 2027 and a rental population comprising 73% of households make it a lucrative spot. For detailed information on investing in Leeds, contact @ThePlace at info@at-the-place.com.

property investment 2024

Manchester: A Leader in Capital Appreciation

Manchester, a city with a history of robust capital appreciation, is a must-consider for 2024. With an average property price of £251,038 and an expected price growth of 19.3% by 2027, it stands out for its strong rental market and economic dynamism. Manchester's projected rental growth of 21.6% from 2023-27 further cements its status as a top investment destination.

where to invest 2024

Connect with @ThePlace for Insight on Where to Invest in Property in 2024

As you navigate where to invest in property in 2024, remember that @ThePlace offers expert guidance and a diverse portfolio of investment opportunities across the UK. Contact us at info@at-the-place.com for personalised advice tailored to your investment goals.

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estate agents near me

ESTATE AGENTS NEAR ME

FAQ'S

How much are estate agent fees?

How much are estate agents near me fees?

Typically, estate agents fees can reach heights of 3.6% of the sale price and can fluctuate based on the number of agents attempting to sell your property and the quality of your initial negotiations. In the year 2022, the average fee for an estate agent stood at 1.42%. Therefore, if your property was sold for a price of £275,000, the agent's share would be £3,900. It is worth noting that @ThePlace fees are considerably cheaper than these.

Should you use more than one estate agent?

Should you use more than one estate agent?

It's typically practical to engage two estate agents near me under a joint sole agency agreement for selling a single property only if you intend to hire a nationally operating specialist agent alongside a local generalist. For instance, you might prefer a national agent specialising in high-end properties, in addition to a local agent familiar with your area. Joint agency agreements often carry higher charges, usually around 2.4% including VAT. Engaging two local agents under a joint sole agreement usually doesn't make much sense, as their market coverage will overlap, and they won't be motivated to outdo each other to close the deal. Employing two estate agents also carries the risk of one agent attempting to benefit from the efforts of the other without contributing equally.

Do I have to pay estate agent fees if I decide not to sell?

Do I have to pay estate agents near me fees if I decide not to sell?

If you decide to pull out of a sale, it's customary to face charges to cover the expenses an agent has already incurred, like advertising. Also, it's standard to pay part or all of the estate agent's commission, but only if your signed contract includes a "ready, willing and able purchaser" clause. Essentially, this clause signifies that you're obligated to pay the agent for their work in identifying a potential buyer, even if unforeseen circumstances cause you to back out of the sale.

What is the best way to sell a house UK?

What is the best way to sell a house UK?

To maximise the sale price of your property, it's recommended to collaborate with a reputable local estate agents near me. Local estate agents are well-versed in the specific characteristics and trends of your area's property market. They have in-depth knowledge about the neighbourhood, understanding what attracts buyers and can accordingly highlight these features in their marketing efforts.

A good local estate agents also has a strong network of potential buyers, which can expedite the sale process. They can provide professional advice on the right pricing strategy based on comparable sales in your area and current market conditions. Additionally, their negotiation skills and expertise can help secure the highest possible price for your property.

Are estate agents regulated?

Are estate agents regulated?

The primary regulation of estate agents is dictated by the Estate Agents Act 1979 (EAA) and the Consumer Protection from Unfair Trading Regulations 2008. Beyond this statutory regulation, since October 1, 2008, all UK-based estate agents involved in residential estate agency work must be part of an approved redress scheme. They can choose either The Property Ombudsman or the Property Redress Scheme, a requirement put forth by the Consumers, Estate Agents and Redress Act 2007.

Will estate agents lie about offers?

Will estate agents lie about offers?

As part of the regulations associated with an ombudsman, estate agents are strictly prohibited from fabricating or concocting details about any existing or non-existing offer. Additionally, it is mandatory for estate agents to promptly communicate offers to the property sellers, and this must be done in writing.

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