Friday News #078 – House prices rise by 7.3%

Friday News#078 – 9th of October 2020

The key to success for investors purchasing buy-to-let property in 2020 is securing the right type of property to match the tenant demand, in a location that not only has potential for future capital growth but has proven itself to be a worthy investment choice, and importantly not to pay over the odds.   

We carefully vet each opportunity that we propose to ensure there is a real opportunity for our clients. In times of uncertainty, together with rental assurance, this process can prove to be invaluable.

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

House prices rise by 7.3%: Annual house price growth increased to 7.3% in September 2020, up from 5.2% in August, Halifax’s house price index has found. Read more.

UK mortgage applications at 12-year high as house prices keep rising: Mortgage applications in the UK have surged to a 12-year high as house prices rose at the fastest annual pace since mid-2016, the mortgage lender Halifax has reported. Read more from The Guardian.

Construction sector surges after growth spurt: Britain’s builders enjoyed their best month since Covid-19 struck during September after a surge in projects delayed by the pandemic. Pent-up demand and the tailwind of the Chancellor’s stamp duty holiday drove the fastest rise in new business since before the lockdown, the Chartered Institute of Procurement and Supply said. Read more from The Telegraph.

Rent levels – London drops but most regions still rising: The latest monthly rental index produced by insurance provider HomeLet shows a four per cent surge in the all-UK average rent over just three months, but big differences across different regions. Read more.

Should I put all my cash into one property? This is a question that comes up time and time again. Investors who have a large sum which they wish to invest in property can be unsure of whether to put all their cash into one property or whether to split the cash and borrow additional funds in order to buy multiple buy to lets. Read more.