This week we've pulled together some of the hottest news stories around property investment for your reading pleasure! So strap in, turn off the tv and get ready for some updates:
UK house prices hit a record new high in May as a lack of properties coming onto the market continued to drive up the cost of homes, latest research by Rightmove finds.
The average house price rose 2.1% on last month to £367,501, the highest it has been for the time of year since May 2014.
Prices are rising at their fastest rate for 40 years. UK inflation soared to 9% in April – the highest level in over 40 years and more than any other G7 economy.
This article answers some burning questions from readers including what this may mean for house prices.
https://www.theguardian.com/business/2022/may/23/uk-inflation-house-prices-savings-pay-rises
According to Zoopla’s latest market index, the average rent has risen by 11% in the UK over the past year.
The average rental price is now at £995 a month, compared to £897 in 2021.
https://www.mortgagestrategy.co.uk/news/rental-growth-in-cities-bounces-back-post-covid/
Last year 20,000 first-time buyers chose buy-to-let properties rather than buying a home to live in.
First-time buyers have faced a lot of difficulties getting onto the property ladder over the past year with costs increasing and shortage of properties. Rather than buying their dream home to live in, they are instead getting their foot on the property ladder with buy to let investments.
https://www.propertyreporter.co.uk/landlords/20000-ftbs-chose-btl-over-buying-a-home-last-year.htmlHave a great day and we look forward to working with you.
