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25 Sep, 2023

North West Is the Top UK Region for Rental Growth

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    Biggest Property Investment Takeaways from Monthly Housing Market Analysis

    According to the September Housing Market Report, the North continues to assert its dominance in the UK property market.

    Let’s look at the report in greater detail and discuss what that means for property investors moving forward into Q4 2023 and beyond.

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    What Does the Report Say About the UK Property Market

    Rental Growth

    The stats put the average UK rental growth at 11.0%. However, the North West offers the best rental growth in the entire country, topping the table at 15.6%.

    As such, rents continue their solid growth through most areas in England, Scotland and Wales. That being said, London and Welsh markets are showing some signs of stagnation.

    These statistics follow the same trends that arose earlier in the year. For instance, the Homelet Rental Index showed an annual rental growth in the North West of 9.70% in July 2023. This was better than most regions in the UK but still below the national average. Now, it seems that the region has enjoyed accelerated growth.

    As such, you may want to consider a buy-to-let investment in Liverpool or Manchester, taking advantage of that rental market before prices rise again.

    Average Market Time

    The report shows the average time on market for unsold properties is higher than they were a year ago, suggesting people are less likely to buy property at the moment. However, the typical time on the market for most of the UK is lower than in 2018 and 2019.

    Unsold Property Stock Levels

    Unsold property stock levels continue to rise. However, they remain within a normal range compared to the seven years before the Covid pandemic. Unsold stock levels may rise further, but the strength of the UK rental market – particularly in Liverpool – may be enough to convince new and experienced investors to enter the market for their next buy-to-let property.

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    How Did UK Property Prices and Supply and Demand Perform?

    Cash buyers and investors with high deposits could benefit from lower property prices. The market report shows that property values have slipped again. However, the decline is not as sudden as in December 2022. Supply and demand are still rebalancing, but rental demand remains high. Check out some of the best property investments of 2023 today with RWinvest. indicates very few instances of panic selling, which suggests more landlords are prepared to wait out the current period of economic uncertainty. Now interest rates have halted, and inflation continues to fall, house prices may start to rise in the next couple of years. Learn more about how to invest in property in the UK with RWinvest, the one stop shop for property investment advice and guides.

    However, prices did not fall in every UK region last month. For instance, the North East and Yorkshire experienced slight rises. Meanwhile, Scotland enjoyed a 1.4% average price growth.

    On the whole, the northern parts of England – plus Wales and Scotland – continue to offer the best price growth and sustained momentum in the face of economic uncertainty. Why not learn about buy to let and how it works with our free guide.

    For the latest deals on North West properties, contact us today for more information on our latest buy-to-let investment opportunities.

    Check out our handy guides from the popular buy to let in Stoke guide or the buy to let in Coventry guide.

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    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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