Friday News#071 – 21st of August 2020
The UK property market is motoring forward – it’s an exciting time to be taking action. In a fast paced market place it is incredibly important to take well researched advice from those with experience to ensure investments are properly considered – there remains to be huge opportunity for investors if you know where to look.
Here’s what we’ve seen in the news this week:
43% of young investors to buy due to stamp duty holiday: Some 43% of UK investors between 18 and 34 plan to buy more property due to the stamp duty holiday. Stamp duty was temporarily cut on property purchases worth up to £500,000 last month. The cut will last until March 31st. Read more.
Housing market has busiest month in more than 10 years: The housing market has had its busiest month in more than 10 years in July, with the traditional summer lull replaced by a flurry of activity from buyers and sellers, according to the property website Rightmove. The site, which typically lists about 95% of homes for sale in the UK, said the “rulebook has been rewritten”, with the boom fuelled by pent-up demand during lockdown accelerating as the summer has progressed. Read more from The Guardian.
What does a recession mean for house prices – and is it a good time to buy? The property market and economic performance are usually entwined. Activity and house prices rise during periods of economic growth, and slow down when the nation’s finances worsen. This is because jobs are lost and finances are squeezed during a recession, so cautious buyers hold off from purchasing and house price rises are tempered. But the start of the current recession has not played out in the usual way. Read more from The Telegraph.
Top universities for buy-to-let revealed: With the academic year set to get underway, thousands of students are busily moving into flats and rented homes in towns and cities around the UK, which is good news for landlords, many of which were concerned about the potential impact of the coronavirus pandemic. Landlords can earn attractive returns when buying property near a university, but only if they are shrewd about where they purchase. Read more.
Hong Kong vs UK property market: In our latest blog post we consider the two property markets and which currently presents a better balance of opportunity and risk. Read more.