Friday News 4th March 2021
The Chancellors Spring Budget took place on Wednesday and wasn’t quite the doomsday many had predicted. Instead, the plan for the country is one being driven by investment across all regions of the UK, with constructive support in place for the country reopening over the coming months.
The outlook is positive.
Here’s what we’ve seen in the news this week:
Stamp duty holiday extended to end of June: The stamp duty holiday on house purchases has been extended for a further three months, Chancellor Rishi Sunak announced in his Budget. Read more from the BBC.
Growing out – 60% of landlords expand portfolio in race for stamp duty savings: Some 60% of multi-property landlords have expanded their property portfolio since the introduction of the stamp duty holiday in July 2020, according to research from Direct Line for Business. Read more.
House price growth reaches 6.9%: Annual house price growth increased to 6.9% in February, up from 6.4% in January, Nationwide’s house price index has found. Read more.
Tenant demand up and supply falls: The number of tenants seeking properties surged by more than a quarter (27%) in January, ARLA Propertymark’s January Private Rented Sector Report has found. Read more.
Property Leverage – What is it? How does it work? What are the benefits? Property leverage – it’s one of the tools available to investors when they’re expanding their property portfolio. Some may also call the process of borrowing money to support property investment ‘gearing’. Read more in our latest article.
Spring Budget 2021: Key facts for investors: TD have put together a brief overview highlighting the most relevant announcements, useful to those who are thinking about investing in UK property in 2021. Read the article.