According to new research, the North West held its own in the first half of 2024 as the most attractive UK region for real estate investment outside of London.
If you are investment planning in Cheshire, the wider North West area drew £970 million of investment in the first half of the year, far ahead of the Midlands and Yorkshire.
Although the overall figure was down 7% on the 10-year average, that contrasts favourably with the UK as a whole, which was down 25% over the same period.
Investment in the property sector across the country reached £16.2 billion in the first six months of this year, down on the 10-year average of £21.5 billion.
Behind the headline figures though, overall volumes for mergers and acquisitions, as well as land and development investments were up 12% on 2023 to £22.6 billion. The residential sector brought in £4.8 billion, which amounts to 30% of the market, the largest share of investment for the third quarter in a row.
Companies in the residential and commercial property industry have said that it is testament to the strength and resilience of the North West market that it was better able to ride out a challenging overall political and economic picture at the start of the year than other regions.
It is now hoped that more benign interest rates will give a green light to further investments later in the year. Whilst there has been some nervousness amongst investors, they remain active in the UK, reflecting confidence in the property market.
