Friday News#083 – 13th of November 2020
Traditionally at this time of year, the property market experiences a gradual seasonal slow-down in the run up to Christmas, however, following an exceptionally busy summer and despite the second national lockdown the UK property market is continuing to see high levels of activity.
Landlords are rightly seeking opportunities outside of the usual hotspots, following changes in tenant demand throughout 2020. There are also opportunities in other parts of the world that offer exciting opportunity in the current climate. To learn more about locations that are ripe for investment please do contact us.
Here’s what we’ve seen in the news this week:
How lockdown 2 is affecting the housing market: Lockdown 2 should be no more than a blip for the UK property market, according to new research. The property market is showing far more resilience to the second national lockdown than it did to the first, which saw the entire housing market, from viewings to home moves, put on hold for seven weeks. Read more.
Rents dropped 5% in London, but the rest of the UK showed 1.7% rental growth in 2020: Rents outside London have grown this year but they’ve dropped in the capital as Covid-19 creates a two-speed market, according to Zoopla’s latest Rental Market Report. Read more.
Big surge in landlord optimism as they plan to buy outside cities: One in 10 landlords wants to buy another investment property in the coming year according to a new survey. This compares to just three per cent at the end of last year. Read more.
Tenant demand surges in the west of England: Tenant demand rose in North West and South West in Q3 2020, according to 44% of landlords. A sizable proportion also reported rising tenant interest in the East Midlands (40%), South East (except London, 38%), the North East and Yorkshire and the Humber (both 38%), Leeds Building Society research shows. Read more.
As a foreign investor, do I need a visa to buy property in the UK? In our latest article, we answer this pertinent question that we are frequently asked by potential investors. Read more about buying a UK property here.