Friday News #059 – Property among most resilient UK service sectors during pandemic

Friday News #059 – 29th May 2020

Market activity continues to build with buyers increasingly searching for properties online and transactions moving forward at speed now the physical valuations and home moves can take place.

Finding the right opportunity in any market climate is the key to investor success; choosing the best location for capital growth and a property that will appeal to tenants and earn a high yield. We have a few suggestions and some exciting opportunities for investors who are keen to make the most of this market.

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

Property investors not deterred by coronavirus chaos: The latest research from Property Hub has revealed that a huge 98% of property investors still consider property to be a good long-term investment. Read more.

Stamp Duty receipts plummet as lockdown dents HMRC’s tax take: Property market restrictions during the lockdown period made a big dent in the Government’s Stamp Duty receipts, official figures show. HMRC data shows just £548m was raised from Stamp Duty taxes in April as the taxman saw big drops in its overall tax take. Read more.

Zoopla: Housing demand has bounced back: Housing demand surged by 88% the week after the market opened, Zoopla’s UK Cities House Price Index Report has revealed. Buyer demand is said to be above levels seen before the lockdown began in March, suggesting there was some pent up demand. Read more.

Property among most resilient UK service sectors during pandemic: The property sector is weathering the storm better than most other service sectors during the pandemic, Sourced Capital research has found. Read more.

Buy to let tax changes for 2020/2021: Landlords need to be aware of the buy-to-let tax changes that have come into force as of the start of the new tax year for 2020/2021. Whilst these changes have been on their way for some time, investors should ensure they are aware of the finer details. Read our latest article.