Friday News #079 – Rents outside the capital hit new record high

Friday News#079 – 16th of October 2020

Where are you investing in property in 2020? 

In the current climate, we’re constantly asked for our opinion on where to buy an investment property. Based on market analysis, trends and projections we have some excellent suggestions for those investors looking to make the most out of the present opportunity – get in touch to hear our thoughts.

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

Rents outside the capital hit new record high: Increasing demand from tenants and strong price growth in the North have seen asking rents outside London hit a new record high of £964 per month. According to the latest data and analysis from Rightmove, asking rents are up 4% in the South West and up at least 3% in the North East. The North West has seen rents rise +3.1% and Yorkshire & the Humber +3.0%. Read more.

Bank of England asks banks how ready they are for sub-zero rates: The Bank of England asked banks on Monday how ready they are for zero or negative interest rates, following up its announcement last month that it was considering how to take rates below zero if necessary. Read more.

More Brits invest in holiday homes across UK: Brits are investing in their own staycation spaces at a record-breaking pace, ahead of the autumn and winter months, according to holiday home operator Park Leisure. YouGov data shows that over three quarters of Brits (77%) have no intention of travelling abroad this year. In fact, 43% say they intend to take more or the same number of UK trips than they usually would. Read more.

Why Zanzibar should be your next investment location: In our latest article we highlight the many reasons supporting investment in Zanzibar. Learn more.

UK Property Market Update October 2020: In our latest video Nichola shares her thoughts on the current state of the market: Watch here.