Friday News #082 – House price growth rises to 5.8%

Friday News#082 – 6th of November 2020

England is now in lockdown. From the 5th November until 2nd December restrictions have been put in place in a bid to slow the spread of coronavirus. Though there are similarities to the lockdown earlier in the year there are key differences such as the property market remaining very much open for business during what is being dubbed Lockdown 2.

Entering a market place in a time of relative uncertainty can be hugely rewarding in the long run if well-informed and considered decisions are made about where and what to buy. Taking investment advice from buy-to-let experts could be the difference between success and failure.

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

England in lockdown: the property market remains open – what does it mean if you’re buying, selling or moving home? A second national lockdown is upon us. With housing secretary Robert Jenrick making it clear people can still move house. Zoopla explains what the restrictions mean for the UK housing market – read more.

House price growth rises to 5.8%: Yearly house price growth increased to 5.8% in the year to October 2020, Nationwide’s House Price Index has found. This represents an increase from the 5.0% growth in September 2020. Monthly price growth has slowed from 0.9% between August and September to 0.8% between September and October. Read more.

Race against time: homebuyers scramble to save on stamp duty: Residential property searches by local councils have skyrocketed by as much as 1,400% as house hunters race to buy and beat the end of the stamp duty holiday. Read more.

Where is the UK’s current property selling hotspot? With the country entering its second lockdown of the year so far, the UK property market appears to be heading into unchartered waters with mini-booms and a mad dash to beat the stamp duty deadline. As you would expect, this unprecedented year for property is revealing some areas where activity amongst buyers is outpacing the rest. But where has come out top? Read more.

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