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Gathering Momentum Among UK Buyers in the Property Market

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    2024 UK Buy-to-Let Outlook - Q4 Index Reveals Reasons for Optimism

    2024 is only a few days old. However, the property market is already seeing signs of momentum following a better-than-expected 2023.

    According to the GetAgent Hotspots Demand Index, county-level property demand is growing in numerous areas. While the index showed an annual drop in Q4 2023 compared to Q4 2022, there was also an increase between Q3 and Q4 2023.

    What does this mean for the UK buy-to-let investors moving forward? Let’s look at the index figures in more detail.

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      Buyer Demand Sees a Quarterly Increase According to GetAgent

      The GetAgent Hotspots Demand Index considers homebuyer demand in England, looking at figures from each quarter. The index compares the number of housing stocks listed with stock sold, giving a broad picture of buyer activity in the country.

      The index showed that buyer demand was down by -6.7% annually, except in the City of London, where buyer demand increased by 2.4% year-on-year. However, demand did rise between Q3 and Q4 by 0.3%.

      While overall demand only marginally increased between quarters, demand rose significantly on a county level. Rutland saw the most significant increase of 3.8%, while Buckinghamshire and Berkshire also enjoyed good demand growth at 3.4%.

      The other areas making up the top 10 for buyer demand between Q3 and Q4 included:

      • Surrey
      • Hertfordshire
      • East Sussex
      • Bristol
      • London
      • Oxfordshire
      • Essex
      • Bedfordshire

      Are you interested in investing in off-plan property?

      Be sure to check out some of our handy guides, such as our property investment guide or our article on where to invest in property in London.

      Co-founder and CEO of GetAgent.co.uk, Colby Short, said:

      “Our latest index very much echoes wider industry data on market performance during the closing stages of 2023.

      “While the landscape remains largely subdued, there are green shoots of positivity starting to show, and in some areas, these shoots are growing at a far swifter rate than the national picture alludes to.

      “Although the market is yet to spring back into action when viewed on an annual basis, there’s no doubt that things are improving, and this puts us in a great position as we enter the new year.”

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        Consider Looking Further North for Buy-to-Let Opportunities

        While the GetAgent Hotspots Demand Index revealed that buyer activity was higher in the southern counties, it is an ill-kept secret in the UK housing market that northern properties offer better value for money. Cities like Liverpool, Manchester and Newcastle allow buy-to-let investors to achieve significant ROI for below-average investment costs.

        For instance, the HM Land Registry UK House Price Index reveals that the average Liverpool property price is £178,283. In addition, the average rent (per Home.co.uk) is £1,111 PCM. This gives buy-to-let investors an average rental yield of around 7.5%, making Liverpool one of the best buy-to-let areas in the UK.

        In contrast, the average UK property price is £292,049, and the average rent (per the HomeLet Rental Index) is £1,279, giving a gross yield of around 5.2%. Other regions have seen growth from property investment in Birmingham as well as Leeds property investment.

        If you want more information on different buy-to-let areas, consider checking out some of our helpful city guides, including:

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        Author

        Dale Barham

        Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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