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Property prices rising -  Supply, Demand, Pensions and BTL 

10/03/2015

According to reports there has been a growing number of retirees looking to cash in their pension pots for a secure steady income from buy-to-let properties.

Further information within these reports suggest property buyers need to get their tactics right to benefit fully from property investment. Given that there is limited stock of property in the UK this is proving harder than ever before resulting in increased demand for professional property sourcing services.

For decades now, the supply of property has been inadequate to meet the demand and this is resulting in a shortage of quality property. Due to the shortage of suitable property supply, Rightmove data shows property sellers are contributing to an uplift in prices across all regions in the UK . The UK national average is now up by £5000 (+£5,729/+2.1%).

However owner occupancy is down to 65% from 71% in 2003. This shows that despite there being a rise in new build property of 11%, it is currently outstripped by the 31% increase of housing transactions in England and Wales caused by private rental buyers. Buy to let owners tend to have long term investment strategies so do not sell their properties as frequently as owner occupiers adding further strain on the supply.

This rapidly growing buy-to-let sector has increased since 1996 by 2.6 Million homes adding long term resale availability issues to the lack of available housing and new build shortage for residential buyers.

“Rightmove statistics show that the average available stock for sale per estate agency branch for the last two months (57 and 58 properties) has never been lower at the beginning of the year. New seller numbers this month are also 4% below those recorded in the same period in 2014.”

 

The outlook : There simply is not enough property, more people are looking, further price increases could be seen from the supply and demand issue, exasperated by under performing pension owners self investing into property, all adding further demand to an overstretched property supply.

Buy property now while the prices still allow great profit to be made.

Earnest Knight can be instrumental in assisting with all aspects of building and growing a successful portfolio.

 

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