Investing in property has long been considered one of the best long-term investment strategies, offering high potential returns, lower risk, and a steady cash flow.
However, many investors have become cautious when it comes to investing in the UK property market over the last few years. Rising mortgage rates, a higher cost of living, the COVID crisis and economic instability have cast doubt on this traditional investment strategy, not to mention the costs and risks for developers of navigating our problematic planning system.
Despite these factors, both the UK and Bath and Bradford on Avon property markets continue to offer first-time buyers and investors a wealth of opportunities for capital growth and return on investment.
In this article, we will take a closer look, exploring the latest trends in UK property investments so you can decide whether investing in property in Bath or Bradford on Avon is the right choice for you and your financial goals.
UK property market trends
Overall, the UK property market has remained strong over recent months and years, despite global uncertainties including high mortgage rates and the cost of living. Although average buying power is now 20% less than in 2022, it still offers investors a wide range of opportunities.
Britain has long had a housing crisis, with a backlog of 4.3 million homes, according to UK thinktank Centre for Cities. The UK government’s ambitious target to build 300,000 homes per year to meet this high demand hasn’t yet eased the crisis, meaning that demand continues to outstrip supply across the country.
This has led to the ‘Buy to Rent’ and ‘Build to Rent’ trends, which continue to grow throughout the UK. These are excellent for urban areas, especially in high-demand areas such as Bath and Bradford on Avon where tourists, students, individuals and families seek somewhere to live. With house prices continuing to increase across the UK, property investors could enjoy excellent returns on investment over the coming decades.
Additionally, investors in the UK property market are increasingly diversifying their portfolios, exploring different property types in different locations to help spread risk.
This includes residential, commercial or industrial properties in growing property hotspots across the UK such as Bath and Bradford on Avon where the market is strongest and there is a higher demand for rental properties.
Bath property market trends
The beautiful UNESCO World Heritage site of Bath is situated in the heart of Somerset, Southwest England. Historically significant, its stunning architecture, natural beauty and thriving cultural life make it an evergreen location for property investment.
Here, demand far outstrips supply thanks to its popularity with tourists, students, locals and those looking to relocate to a beautiful, easy commutable English city. Properties are also snatched up quickly and provide an excellent return on investment.
In Bath, there’s also a wide range of property types available from city centre apartments to urban homes and rural properties, offering plenty of choice. Because of the city’s continued desirability and ever-growing demand, Bath remains an excellent city to invest in the UK property market in 2023 and 2024.
With new developments emerging including our Shepherd’s Close development with 14 privately owned detached homes and the luxurious Millennium Rise and Millennium Terrace in Bath, there’s never been a better time to invest in Bath.
Bradford on Avon property market trends
Bradford on Avon is a quaint, picturesque town set on the River Avon that boasts well-preserved medieval architecture, and character-filled properties, and is just eight miles from vibrant Bath city.
Demand for properties is also high here because it’s an excellent commuter location, properties are rich in character and it’s an excellent place to bring up a family or enjoy a calmer pace of life.
In terms of property investment trends here, the town continues to thrive, in part thanks to its investor-friendly property prices. On average, properties here sell for £533,816 and spend just 12 weeks on the market, having dropped by a few percent over the last few months.
With traditional properties, modern apartments, renovations and refurbishments and new developments in the region such as our spacious and sustainable Old Timber Yard development, this combination of factors makes it an excellent time to invest in the Bradford on Avon property market.
The UK in general, especially Bath and Bradford on Avon, remains a financially astute place to invest in the property market and receive excellent return on investment. Additionally, these thriving towns and cities offer an outstanding selection of property types, fantastic quality of life, an easy commute, excellent educational and employment opportunities, and an escape from the chaos of the major towns and cities of the country.
With buy-to-rent continuing to be one of the biggest UK investment trends, demand continuing to be higher than supply and property prices set to grow over coming decades, there’s never been a better time to invest in the UK property market in Bath or Bradford on Avon.
Find your ideal investment property that could deliver outstanding ROI. Speak to our friendly team at Cobb Farr today.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as investment advice. Always consult with a qualified financial advisor before making any investment decisions.