Friday News #070 – 14th August 2020
Whether you’re considering adding to your portfolio or taking advantage of the current temporary stamp duty cut to reorganise your assets – now is a good time for investors to take action.
So far 2020 has presented us with a number of unexpected scenarios yet the UK property market has held strong and prices are now rising. Time is of the essence to make the very most of the opportunities available in the current climate.
Here’s what we’ve seen in the news this week:
Landlords turn to holiday lets to take advantage of staycation boom: The stamp duty tax break has persuaded many investors to expand their portfolio. Landlords are capitalising on the rising demand for British holidays and the stamp duty holiday by investing in properties targeted at domestic tourists. Read more.
Pent up demand and stamp duty holiday push up prices: Agents have been understandably delighted at the latest Halifax index which shows house prices posting their biggest gain of the year in July. Average house prices rose 1.6 per cent in the month to a typical £241,604; over the course of the past year, that means prices are up 3.8 per cent. Read more.
Overseas buyers take advantage of stamp duty holiday before 2021 surcharge: Interest in UK property from overseas buyers is surging as investors look to take advantage of the current stamp duty holiday which ends on March 31 2021. At the same time, overseas investors are also looking to pick up UK properties before an additional 2% stamp duty surcharge for non-UK buyers is introduced next April. Read more.
We’re in a recession, so why are home buyers so optimistic and house prices rising? The middle of a major economic crisis should be the worst time to buy property – yet demand is booming. Read more from The Telegraph.
Is Fear Stopping You From Investing in Property? In our latest video release senior property investment consultant, Oliver, who’s based in Dubai talks through how fear can play a major role in stopping investors from taking steps toward investment. Watch the video here.