The outlook for the UK commercial and residential property scene in 2014 has continued to improve following the strong growth of GDP, the reduction in unemployment figures and the recovery of house prices. The property market as a whole looks set to end 2013 on a welcome high, with house prices in both England and Wales rising by more than 4%, and an even larger climb of 9% being evident in the London area.
With three quarters of the UK now seeing increases in house prices over the course of 2013, the momentum looks almost certain to carry on into the New Year. Commercial property investors have recently endured some torrid times, as the commercial market languished during 2012 before experiencing the return to form that has been observed in 2013, and numerous observers have maintained that this improving outlook will remain constant into 2014.
However, investors are being advised to be selective with their choices to prevent any possible disappointment. London assets have been noted as offering unusually strong returns, and it is also thought that some of the most lucrative opportunities might actually consist of ‘secondary’ properties that are located within regional centres. The continued success of the entire UK property market will depend upon the sustaining of the current demand and the growth in the London market, as well as the forecast for mortgage rates, but commercial property owners certainly look set for a profitable 2014.
Here at Prideview Properties, we have been taking an active involvement in the UK commercial and residential sectors for more than two decades, and our commercial property consultants have gained a particularly broad area of expertise in the world of commercial auctions. We pride ourselves on always being able to meet the requirements of our valued clients, no matter what the economic scene might be, and so we are especially optimistic about the promise of the New Year.
Overseas investment has been identified as one of the key drivers of the 2014 property market, and here at Prideview Properties we are able to assist you no matter what country you are investing from, and can assist foreign investors with any management, legal, accountancy or taxation issues.To find out more about how we could help you, please contact us now.