Friday News#080 – 23rd of October 2020
With property transactions currently taking considerably longer to reach conclusion, multiple lenders and news outlets have this week encouraged buyers hoping to make the most of the stamp duty holiday to secure a property as soon as possible.
Here’s what we’ve seen in the news this week:
Don’t leave it too late for buy-to-let: Guernsey registered lender, Skipton International, has urged prospective purchasers not to leave it too late if they are thinking of purchasing a UK buy-to-let property this year. The UK government’s stamp duty holiday ends on 31 March 2021, so anyone considering the purchase of a buy-to-let property will need to start the ball rolling soon if they are to take advantage. Read more.
UK’s housing market booms through October: A surge in Britain’s housing market pushed up asking prices for homes this month by the most in more than four years, with buyers ready to pay a premium for larger properties after their lockdown experience this year, a survey showed on Monday. Property website Rightmove said asking prices were 5.5% higher than in October last year. The average asking price now stands at a record 323,530 pounds. Read more.
Tenant demand hits four-year high: New research carried out on behalf of Paragon Bank has revealed that during Q3 tenant demand hit a four-year high, with landlords in the North West and South West reporting the strongest levels of growth. Read more.
Residential transactions up 21.3% month-on-month: Property transactions increased by 21.3% from August to September, HMRC statistics show. Following the rise they are slightly lower (0.7%) than September last year. Read more.
London Commuter Town Guide on Bracknell: Investors looking for the next hotspot should be considering the London commuter town of Bracknell. Learn why in our latest blog.