Friday News #044 – HS2: What is it and what will it mean for the North West?

Friday 14th February 2020

The UK has seen a week of political action with the Prime Minister reshuffling his cabinet, Sajid Javid resigning as chancellor just weeks before his first budget and High Speed Rail 2 (HS2) being given the go-ahead.

For those looking to invest in property, the most exciting development is the confirmation of HS2. Journey times from London to key destinations such as Birmingham, Manchester and Leeds will all be almost halved and connections from Birmingham to the North will be significantly shorter due to the poor links currently in place.

Confidence in the UK property market continues; savvy investors are rightfully placing their interests in areas which might be lesser-known but hold the best prospects for capital appreciation and impressive yields.

Majority of UK landlords plan to invest during 2020, finds new research: Research suggests UK landlords are looking ahead this year with a positive and vigorous outlook about their current and future position within the UK’s buy-to-let market. See full article.

HS2: What is it and what will it mean for the North West? Boris Johnson has given his backing to HS2 but what is HS2 and what will it mean for the North West? ITV news answers key questions.

‘New year bounce’ for UK housing market: The number of people looking to buy rose in January, as did the amount of homes for sale, the Royal Institution of Chartered Surveyors (RICS) said. Read more from the BBC.

Cost of buy-to-let mortgages fall year-on-year: “With the current record low rates on offer these landlords should act quickly because if the “Boris bounce” becomes a reality it may allow interest rates to begin to rise back to more normal levels.” Read more.

Questions you need to ask your property consultant to make sure a property is right for you: whatever the reason for buying a property for investment, it’s important to ensure that the particular property you’re considering is a good investment prospect and is well suited to your position and future plans. To learn more about what to ask read our latest article.