Friday News #060 – 5th June 2020
Since the UK property market officially reopened for business the demand for rental property in the UK has resumed to the usual dizzying levels, outstripping supply once more. Mortgage lenders are also largely all back in the buy-to-let market and offering attractive products to investors.
Where and what you buy remains to be of great importance for a successful investment.
Here’s what we’ve seen in the news this week:
Government to relax stamp duty surcharge reclaim date: The government is relaxing the three-year rule for reclaiming the stamp duty surcharge. People who purchase new homes before selling their old home are subject to a 3% surcharge, which they can reclaim provided they sell the old property within three years. Read about the changes.
Rental market sees “remarkable” bounce back in activity after lockdown lifted: The latest data and analysis from Goodlord has revealed that pent-up demand during lockdown translated into a 111% rise in new tenancy applications once the restrictions were lifted. Read more.
Property market back with a bang as Rightmove records busiest ever day: Since being allowed to officially reopen on May 13, the property market has returned with a bang, according to Rightmove. Read more.
The West Midlands tipped to see transport inspired house price boost: A potential uplift in property prices caused by upgrades to transport networks across the West Midlands has been highlighted in new research. Read more.
Best way to invest £50k in property: Having a £50,000 pot of cash to invest in property might seem to some as though it wouldn’t buy very much given that the average UK house price is £231,855 – the key to making this money work hard and earn a good return is to leverage and from there careful planning and patience could open a range of further exciting prospects. Read our latest article.