UK landlords are doubling down on urban flats amidst a slow but definite return to conventional office working.
Data from Shawbrook Bank suggests that some 28 per cent of landlords responding to a survey say that flats in cities are now the best investment - a similar number believe they will be the best investment in the near future too.
Recent data from a range of sources suggest jay around 43 per cent of workers are now back to largely conventional office working.
Emma Cox, managing director of real estate at Shawbrook Bank, says: “The end of ‘the flight to the countryside’ and resurgence of city living post-pandemic has not gone over landlords’ heads as investment in urban properties has gained strong momentum. Whilst the property market still remains turbulent, with high interest rates and inflation impacting buyers, landlords are adapting their strategies to diversify and stay on par with changing trends.
“Now may also be the right time for professional landlords to partner with a specialist lender, to maximise opportunities available and future-proof businesses against any further market challenges.”
The bank’s survey of landlords also suggests that even those advocating investment in non-flats still want city properties - 21 per cent believe semis in the city are best, while another 18 per cent favour student accommodation.
More widely, the number of landlords that agreed that flats in cities were the best investment is even higher in areas such as London (30 per cent), Scotland (39 per cent), and Wales (28 per cent).
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This is clearly a marketing ploy, wanting to entice people to buy properties. However, most LL's do know their markets where they buy for the best returns. They need not fall for this lark. The city flats are not moving, on sale from 2022 and even after 20% discounts.
Most leasehold flats in Norwich are over priced and not selling
The ones that are buying in cities are not borrowing but they are mainly cash purchasers and looking for bargains. For this people 20% lower than prices of 2022 is not sufficient, they wish to pay another 20% lower. Just have to check land registry. Maybe not the current indication. However, current indication is zoopla and rightmove as advertised properties are not moving. An agent said that they are selling at a higher prices without advertising. I said OK, I shall check land registry in about 8 months, if anything has sold at a profit.
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