Northern Residential Property Transactions 2024 & Market Update

Residential Investment

2024 proved the residential market’s resilience once again, despite the well-publicised macro-economic challenges, with 8% rental growth in the North and the Midlands accompanied by 4.75% average house price growth. This has resulted in a healthy appetite from a variety of investors for high quality stock in locations backed by strong fundamentals, namely large  regional cities such as Manchester, Leeds and Birmingham.

Land & Development 

The broader development market has responded positively to proposed changes to the Government’s National Planning Policy Framework (NPPF), which are generally favourable for housing development in England. These changes have led to the largest increases in local housing needs in the North East and North West, with uplifts of 99% and 75%, respectively. As a result, demand for sites in these regions is expected to rise throughout 2025.

Student Housing

Student accommodation in the UK remains a key focus for investors with a total of £3.5 billion worth of transactions completing in 2024, an increase of £400m compared to 2023. Whilst challenges remain and transaction periods continue to be protracted, performance across the spectrum from HMOs to large-scale PBSA has generally held strong.

Get more insight & take a look at the properties we sold in 2024