The demand for homes across the UK is outstripping the supply to the market considerably, despite developers working hard to build new properties it’s likely that this imbalance with continue for many, many years, pushing prices upwards.
Furthermore, many would-be buyers are finding it impossible to get onto the property ladder, others simply have no desire to buy a home meaning the number of those deemed ‘generation rent’ is continually increasing.
Both these factors bode well for investors seeking strong capital appreciation and continuous rental demand.
Here’s what we’ve seen in the news this week:
Record low supply continues to fan the flames of the property market: The UK property market shows little or no sign of cooling despite the tapering of the Stamp Duty tax break, as buyers feverishly mop up what little sales stock remains, according to the latest market analysis from Home.co.uk. The latest figures show that total stock levels of property for sale in England and Wales has fallen again to a new low of 273,531, 34.6% lower than in June 2020 and 43.4% less than in June 2018. Read more.
More than a third of self-employed renters don’t think they’ll ever buy a home: “52% of the self employed workers in the UK have seasonal or extremely variable income streams month to month, which may not fit the tick-box approach of many high street lenders” Read more.
How landlords can save money on their properties: buy-to-let tax loopholes and tips: Buy-to-let owners have been hit by a series of punishing tax changes since 2017, forcing a quarter of a million to sell up and exit the market. But there are still ways for savvy landlords to save money on their tax bill and make the numbers add up. The Telegraph look at the most tax-efficient ways of owning a rental property. Read more.
How holiday lets can make the most of the staycation boom: As the UK emerges out of lockdown and ventures towards normality, people are ready to make the most of the upcoming holiday season. While international travel is still largely off the table, UK hotels, hostels, and B&Bs have been given the go-ahead to re-open their doors, so people can finally get away for a long-awaited break. Read more.
