Friday News #062 – 19th June 2020
Estate agents are overwhelmed, asking prices are increasing and discounts are diminishing – the UK property market is showing no signs of slowing down.
Where you invest remains to be the key – recently released data has highlighted the resilience of the property market outside of London, further adding to the appeal of many prime investment locations across the country.
Here’s what we’ve seen in the news this week:
House prices jump in England as estate agents overwhelmed: Asking prices for properties in England are more than £6,000 higher than before the lockdown began, according to Rightmove. Homeowners appear to be confident of cashing in on a “flood of pent-up demand” and new interest in moving sparked by the lockdown, despite the economic fallout of the pandemic. Read more.
Sale price discounts diminish as market strengthens: Price discounts are diminishing as the housing market strengthens, according to data from Knight Frank. The report highlights that prices outside London have been more realistic for a longer period of time and are therefore now showing more resilience. Read more.
What property type has the best yields? New data from lettings management platform offers fresh insight into which property types produce the best yields for investors. The study found that one-bedroom properties are now proving the best financial investment when it comes to buy-to-let rental yields across the UK’s major cities. “Tenant demand is growing for one and two-bed homes that provide them with a space of their own.” Read more.
June lettings activity matching 2019 levels: The first fortnight in June has seen new and completed lettings applications surge above 2019 levels in some cases, research from Goodlord has found. Demand for rental properties has steadily gained paced since 13th May, when restrictions on moving house were lifted. Read more.