Every year, those thinking about investing in property for the first time and even current landlords ask themselves whether it’s the right time to expand their portfolio if they can. So, given that annual price growth has been slowing since the summer of 2022, will 2023 be a good year to invest?
We believe it could be – depending on what you are looking for from property investment. Although average capital value is predicted to fall this year, this is on the back of double-digit market growth for many properties through the pandemic and is expected to recover well within five years. In addition, rents have been rising strongly for most properties due to a lack of stock. And given that buy-to-let is a longer-term investment strategy, slower property price growth, coupled with strong rental growth, could work in new and existing landlords’ favour.
Here are five reasons why we believe this year could be a great time to either enter the rental market or expand your existing portfolio: