Savills have growth forecasts 2024-2028: NW England (Manchester and Liverpool) 28.8% West Midlands (Birmingham) 23.4% Scotland (Edinburgh) 25.8% UK generally 21.6% capital growth with rental increases forecast to be 18.1% over the same period. This will outweigh any Stamp Duty changes from yesterday's budget and does not take into account interest rate cuts or additional infrastructure investment which are highly likely to boost the market further. Contact Belgrave Properties now to find out about completed or off-plan opportunities in each of these cities.
Sales Director UK Residential Buy-to-Let Property Investments | MBA | Real Estate Finance & Investment MRICS
Key Takeaways for Overseas Investors Following the Budget: The recent 2% increase in Stamp Duty for buy-to-let and second-home purchases has taken effect immediately, raising the additional rate from 3% to 5%. Despite this adjustment, no further restrictions or tax rises targeting overseas buyers were introduced. Positive Developments and Market Outlook: The budget unveiled substantial infrastructure investment commitments across key regions, likely stimulating local economies and indirectly impacting the rental market. Anticipate a moderate increase in rents as landlords adjust, offsetting some costs. Belgrave Properties’ Strategy: At Belgrave Properties, the focus lies in identifying projects within areas of active investment and regeneration. Capital growth potential in these locations is expected to surpass costs linked to recent Stamp Duty changes, especially with potential interest rate cuts on the horizon bolstering the residential property market. Important Note for Prospective First-Time Buyers: For clients without other worldwide property holdings, the Stamp Duty relief for first-time buyers will not be extended. It's advisable for interested clients to consider advancing exchanges before April 2025 to maximize prevailing market opportunities.