OnTheMarket Property Sentiment Index: What’s Happening to the UK Market?

One key aspect observed in April was that property prices remained at similar levels to the previous month, with the majority of increases generally seen in the best buy-to-let areas in the UK – such as the North West. The UK House Price Index reports that the average property price in the North West is £213,890, representing a 2.62% increase over the last 12 months.

According to OnTheMarket, this was likely due to the growing demand from young professionals who wanted to live and work in major cities such as Liverpool.

Another emerging trend in April was increased interest in energy efficiency and sustainable housing. Likely reflecting growing environmental awareness, eco-centric amenities and utilities have become a significant focus for tenants and investors alike.

For example, The Gateway in Liverpool will generate its own electricity, reducing utility bills through energy-saving technology (such as solar panels and air source heat pumps). This will result in a low service charge for investors while also appealing to this growing population of eco-conscious tenants.

Further Reading: Learn about the direct costs of a buy-to-let property with our updated market insights!

The report indicates promising activity in Wales, particularly towards the lower end.

According to Melfyn Williams, Director of Anglesey & Gwynedd, homes in this bracket keep the market “vibrant and buoyant”. They also expect confidence to return to the higher end of the market as summer approaches and it reaches the seasonally active time of year.

The West Midlands, particularly in Staffordshire, also exhibited notable trends, with buyer demand and property prices seeing significant activity.

The report attributes this increased attention to affordable housing options compared to other parts of the UK. For example, Staffordshire reported a steady increase in property prices in April, with an average growth of 2.5% compared to the previous month.

According to Angi Cooney, Director of C Residential, this is likely attributed to heightened demand for residential property driven by first-time buyers and those looking for family homes.

Increased regeneration projects and the introduction of new-build properties in the area have also enhanced its appeal, with homes in areas such as Lichfield and Stafford selling rapidly and often above the asking price.

Read More on OTM Property Index: For more information, take a look at the RWinvest Welsh stamp duty calculator or our guide to new-builds in Swansea.