Property Investors Weekly News: 01/06/2021
It’s a new month, we have new goals and the sun is shining here in Manchester. What an amazing start to June!
As usual, 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:
House prices keep climbing amid May’s highest demand: Nationwide
Annual house price growth was up by 10.9% in May, the highest level in nearly seven years, the latest Nationwide house price index has revealed.
On a month-on-month basis house prices were up 1.8% in May, which is slightly lower than April’s 2.3% rise.
The average house price has reached a record £242,832.
Demand for rental accommodation highest on record in April
NAEA Propertymark’s latest Private Rented Sector Reports continues to show no sign of demand slowing down in the rental market with a record-breaking number of new prospective tenants for the month of April.
New prospective tenants registered per branch dropped slightly to 82 from March’s figure of 84, this is still the highest figure on record for the month of April.
How are eviction rules for renters and landlords changing?
The ban on evictions which was introduced in during lockdown comes to an end in England on 1st June.
Read the article to read how eviction rules for renters and landlords are changing.
Hometrack UK House Price Index – April 2021
Hometrack’s latest price index has revealed that sales completions are forecast to reach 1.5 million this year, up from 1.04 million last year and the highest levels since 2007.
The report also shows Liverpool, Manchester, Nottingham and Leeds are in the top four spots which have the highest price growth.
Have a great week and looking forward to working with you soon!