Property prices continue to rise, rental demand remains strong and interest rates, for now, are still at a record low – it is a good time to buy a property in the UK.
Price growth and rental yields vary across the country; an investor should focus on their motivation for buying a new asset, whilst also ensuring they will be diversifying their portfolio to make the most of the varied market trends and predictions.
To discuss your plans for investment please do get in touch.
Here’s what we’ve seen in the news this week:
House Prices Rose By £44 Every Day In The Last Six Months: House prices increased by an average of £44 every day for the last six months, hitting a record high of £235,000 in August. According to property website Zoopla, values rose the fastest in the South East and South West. Here, they climbed £64 and £63 per day respectively since February. Read more.
Will Interest Rates Rise Soon? How Will It Affect My Mortgage Repayments? Our supermarket shop is getting more expensive and so – assuming we can find a petrol station which is open – is filling up our car. And rising inflation is also making an increase in interest rates, which have been at a record low since the start of the pandemic, increasingly likely. Read more.
Letting Agents And Landlords Given 12 Months Longer To Get Ready For Tax Changes: Letting agents and their landlords have been given a further 12 months to comply with HMRC’s contentious Making Tax Digital (MTD) regulation that were due to come in at the beginning of 2023. Read more.
Rental Market To Remain Stronger Than Before The Pandemic: The rapid pace of growth in the rental market will slow in 2022 but the enduring rate of increase should still be above pre-pandemic levels. Read more.
‘fastest Summer For Property Market In Five Years’: London sees house prices rise just 2.2% while Wales, Northern Ireland and the North West race ahead: The average UK house price is now £235,000 with the summer market moving at its fastest pace for five years, a new report shows. Read more.