Friday News #075 – Optimism in lettings sector sees post-pandemic surge

Friday News#075 – 18th of September 2020

Taking advice from experts can ensure investors avoid making common mistakes, especially in times of uncertainty.

The entire team who support an investor in their purchases and management of their portfolio each play a crucial role. Solicitors, accountants and property managers along with a seasoned property investment consultant can be the difference between financial success and costly failure.  

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

Optimism in lettings sector sees post-pandemic surge: A survey of over 350 lettings professionals has revealed that optimism is higher than pre-pandemic levels, with a huge 80% feeling positive about the future. Read more about the survey.

Is the sales boom in danger of being scuppered by slow conveyancing? Agents and conveyancers are worried that the system is beginning to creak as record numbers of sales put sales progression under huge pressure. Read more.

The most competitive property markets where bidding wars are pushing up prices: The mini-boom in the property market has sparked frenzied competitive bidding in Scottish and Northern hotspots. In some places, 66pc of sales agreed in August were subject to bids from at least three buyers, according to Hamptons International estate agents. Read more from the Telegraph.

Stamp duty: ‘Zero likelihood’ tax rise for overseas buyers will be scrapped: A tax expert says that there is ‘zero likelihood’ of the government changing its mind on stamp duty changes for overseas buyers coming into force next year. From April 1 2021, overseas purchasers will have to pay a 2% surcharge on residential transactions in a bid to level the playing field between domestic and foreign buyers. Read more.

Meet the Team – Nichola Harrison – Thirlmere Deacon Dubai: In the latest of our Meet the Team video series Senior Portfolio Manager at our Dubai office, Nichola shares her advice for new investors and the key places to invest in 2020. Watch the video.