Friday News #067 24th July 2020
The UK property market continues to build momentum as sources report prices increasing to reflect the surge in demand – buy-to-let property investors are rightfully taking advantage of the current opportunity in increasing numbers.
Here’s what we’ve seen in the news this week:
UK housing market: post-lockdown house prices surge in ‘mini-boom’ as stamp duty holiday fuels demand: The post-lockdown housing market has now picked up where it left off and has been accelerated by the temporary stamp duty holiday and by homeowners reappraising their homes and lifestyles. Read more.
Expat buy-to-let enquiries surge following stamp duty changes: One week after the Chancellor announced a stamp duty holiday on the purchase of property in England, Skipton International has reported a sharp increase in its buy-to-let mortgage enquiries. Read more.
Property sales plunged to lowest level recorded over lockdown: Total transactions between April and June were the lowest in any three month period recorded by HMRC. Read more.
Investors take advantage of stamp duty cut by remortgaging to raise funds: Following the recent introduction of a stamp duty holiday, property investors can remortgage to raise funds for future purchases. Read more.
Stamp Duty holiday – how it will work for buy-to-let: On the 8th July 2020, in his Summer Statement, British chancellor Rishi Sunak, announced a stamp duty holiday that will run until the end of March 2021. Read our latest article.
Thirlmere Deacon Magazine: This week saw the release of the Q2 edition of our magazine. In case you missed the email earlier in the week, here’s the link again: Property Investment Magazine Issue 2 Q2 July 2020