Friday News #0107- Northern House Prices Predicted to Rise Twice as Much as London’s in the Next Five Years

The property market continues to be a hive of activity as we move through May. Whilst busy and fast-moving there are still exciting opportunities for the shrewd investor such as our latest development in a location that is projected to see almost 30% capital growth over the next 5 years. Get in touch to learn more.   

Here’s what we’ve seen in the news this week: 

UK rents at seven-year high: UK average rents are at their highest levels since 2014, reaching £996 – and marking the fifth consecutive month that the average price has increased, according to the latest analysis by Homelet. Read more. 

Northern house prices predicted to rise twice as much as London’s in the next five years: Northern Powerhouse towns could see their house prices rise by almost 30% over the five years, more than double the rate growth of London. According to a recent forecast from Savills, prices are to rise by an average of 4% across the country in 2021 and by 21.1% before the end of 2025, taking the average cost of a home in the UK to £279,644. Read more.

Stamp duty holiday triggers 22% spike in transactions: The stamp duty holiday has triggered a 22% rise in monthly property transactions, equivalent to more than 171,000 extra sales, according to Search Acumen. The current tax holiday triggered a 7% rise in house prices between June 2020 and February 2021, adding £17,265 to the price of the average home in England. Read more.

UK house prices increase at fastest rate in five years: House prices are rising at their fastest pace in five years after the Treasury’s extended stamp duty holiday prompted a fresh surge in buying last month, Britain’s biggest mortgage lender has said. Read more. 

Is A Serviced Accommodation Property Strategy Good For Investors? In our latest article we explore serviced accommodation as an property investment strategy. Read more.