When it comes to gaining insight into property price predictions and the promising landscape of the UK housing market, you’ve come to the right place. 

X1 Sales and Lettings proudly presents the latest revelations from Savills’ Mainstream 5-year forecast, a treasure trove of strategic wisdom for savvy investors exploring the UK property market.

As seasoned investors ourselves, we understand that the term “mainstream property” encompasses the beating heart of the UK housing market. 

Savills’ forecast is a comprehensive assessment that factors in both national averages and regional nuances, offering a holistic view of the landscape.

In this guide, we will be shedding light on the next 5 years in UK property investment, discussing whether 2024 is a good time to invest, the current state of the housing market, as well as sharing information from expert sources. 

uk property investment

What’s the outlook for UK house prices in 2024?

Savills’ Mainstream 5-year forecast paints an intriguing picture, forecasting a modest dip in property values across the nation, averaging around 3%. Yet, the real excitement unfolds in the regional variations. 

Remarkably, regional property markets are poised to outshine the traditionally dominant London and South East markets. The North East, in particular, anticipates a mere -1.5% decline, while London braces for a more substantial 4% drop.

However, it’s crucial to note that this forecast carries a more optimistic tone than previously anticipated. Despite the predicted fluctuations in property values, the UK housing market remains fertile ground for investment opportunities.

For the astute property investor, this forecast equips you with invaluable insights to make informed decisions, helping you confidently navigate the market’s ebbs and flows.

Now, let’s delve into the broader outlook for the UK housing market over the next half-decade.

According to Savills, the horizon looks bright, with all regions set to witness property value growth by 2028. This presents a golden opportunity for investors looking to harness the market’s potential. 

Furthermore, the forecast shines a spotlight on the burgeoning demand for rentals in regional cities, signalling that Buy-to-Let prospects will remain a lucrative choice for those seeking passive income and long-term wealth.

Pairing this optimistic 5-year outlook with robust rental forecasts underscores the resilience of property investment as a solid choice.

house prices in 2024

Let’s zone in on the regional trends.

Savills’ Mainstream 5-year forecast reveals several regions that are poised to outperform the national average of 17.9% in terms of property value growth by 2024

The North East, Wales, North West, Scotland, Yorkshire and The Humber, West Midlands, and East Midlands are all on track for significant growth.

How about the southern regions? Whilst the South West, South East, East of England, and even London may trail slightly, these regions are still projected to experience positive growth over the next five years alone. 

In essence, whether your sights are set on the North or South of the UK property market, opportunities abound.

Moreover, these regional trends hold even more promise than anticipated, offering a glimmer of hope for investors, particularly those eyeing Buy-to-Let opportunities in regional cities with robust rental demand. 

With growth potential spanning multiple regions, now is the time to craft your investment strategy for the UK housing market! 

uk property investment regional trends

Is 2024 the right year to invest in property?

For property investors, 2024 presents an enticing window of opportunity to venture into the UK housing market. 

Property has always been a magnet for investors, thanks to its tangible nature and potential for long-term wealth. 

Savills’ Mainstream 5-year forecast paints a vivid picture of property values ascending across all regions by 2028, instilling confidence.

What’s more, the Stamp Duty incentives in place until early 2025 sweeten the deal for property investors in 2024, potentially leading to savings and enhanced returns on investment.

Despite market fluctuations, property has proven itself as a resilient long-term investment, granting investors ample time to reap the rewards of appreciating property values. 

The robust performance of the 2023 property market, even in the face of rising interest rates, hints at potential positive surprises awaiting investors in 2024.

Furthermore, the demand for Buy-to-Let properties remains exceptionally strong, with average UK rents soaring by 9.56% in the year to October, as reported by HomeLet.

This underscores the potential for impressive rental yields and consistent passive income for investors.

If the prospect of investing in a UK property in 2024 beckons, don’t hesitate to reach out to our team of experts at X1 Sales and Lettings. 

We boast exclusive access to income-generating properties and early investor incentives, making the property investment journey a breeze, whether you’re based in the UK or overseas.

So, contact a member of our team at hello@x1management.com today to arrange a personalised consultation and embark on your investment journey with confidence!

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