Friday News #093 – Property exchanges rise by 57% in January

Friday News 5th February 2021

Astute investors often find success when buy to let property purchases are made with a long term view, prudent in the current climate.

The 5 year price and rental forecasts in hotspot areas are impressive, together with the developer incentives currently on offer and a number of other factors, now is exactly the right time to buy an investment property.

The TD team can provide clarity and guidance for investors at a time when there are confusing mixed messages in the media. Get in touch.

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

Property exchanges rise by 57% in January: The number of UK property exchanges rose by 57% between 3 and 23 January, according to Knight Frank. Over the same time period, there was a 43% uplift in the quantity of offers accepted and an 18% rise in new prospective buyers. Read more.

MPs lean towards tapering of SDLT: Although ultimately proving inconclusive, MPs seemed to lean towards a tapering of the stamp duty (SDLT) holiday during a virtual House of Commons debate on the topic. Read more.

House price growth slows to 6.4%: Annual house price growth reached 6.4% in January 2021, representing a decrease from 7.3% in December, Nationwide’s House Price Index has found. Prices averaged at £229,748 in January, after falling by 0.3% month-on-month. Read more.

Renters more likely than ever to remain in lettings sector: New research suggests even those renters who want to be owner occupiers are likely to remain in the lettings sector in the foreseeable future. Read more.

Thirlmere Deacon Q&A #004 – In case you missed it, our latest video where we answer the questions sent in to us from investors and those considering making their first buy to let purchase is now live on YouTube – watch here.

UK Property Market Investors Update February 2021: From our Dubai office, Nichola shares a review of January and the outlook for the months ahead. Watch here