Friday News #053 – 17th April 2020
Speculation continues to surround the impact of Covid-19 as analysts offer their thoughts and the evidence to support their predictions. Whilst no one has a crystal ball, the UK’s property market is one of the most resilient in the world and generally, experts expect a swift turnaround; the impact of coronavirus is expected to be short-lived and limited.
Where possible investors are making decisions and closing deals now, others are preparing to enter the market as soon as the restrictions are lifted. It is likely that those acting now will benefit from less competition in the market place. The appetite for UK investment property remains to be strong.
How will coronavirus impact UK house prices – and should I hold off buying a house? The government has issued strong guidance advising buyers and sellers to delay their purchases unless the property is vacant or they are contractually bound to continue a sale and both parties can’t reach an agreement to postpone. Read the expert predictions surrounding the impact of Covid-19.
Expats will be ready to buy once the lockdown is lifted: Expat mortgage specialists are confident interest in UK property from overseas will start strong once the UK lockdown is lifted. Enquiries are now coming from Asia, adding that some parts of the world are less affected by the outbreak than the UK. Read more.
New-builds look best in virtual viewings, claims top lettings agency: New and newly-refurbished properties are letting more readily as virtual viewings become more widespread during the lockdown. Read more from International agency, Knight Frank’s head of lettings.
High net worth individuals increasing liquidity for property investment: Over the last few weeks, there have been signs that high net worth individuals are maximising their liquidity. It would appear that many investors are readying themselves to cherry-pick assets in the aftermath of the coronavirus lockdown. Read the full article.
The power of rental assurance in a market downturn: The surety provided by a rental assurance can prove invaluable, no time more so than in a market downturn. Read our latest update.