Property Investors Weekly News: 05/10/2020

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Property Investors Weekly News: 05/10/2020

We hope you had a great weekend and your week is off to a fantastic start! Check out these tidbits of property news to stay up to date with the industry:

House prices seeing strongest growth in the north

Hometrack’s released it’s latest report in which it’s found that Manchester, Leeds and Nottingham are at the top of the table for house price growth!

Although first time buyers have fallen off considerably, homeowners have propped the market up taking advantage of the stamp duty cut.

We’ve personally seen properties going for 20%+ over asking price in our areas. Another reason why we only source off-market properties.

https://www.hometrack.com/uk/insight/uk-house-price-index/august-2020-house-price-index/

Green Homes Grant

The Green homes grant is now live and can be used by landlords as well as homeowners to improve the energy performance of their properties as long as the work is performed before the end of March 2021.

To see if the work you’re planning is eligible, see the below link and fill out the questionnaire to see what likely options you have.

We’re starting a new refurb soon and, as part of the work, we’re upgrading the insulation and installing new exterior doors, both of which can be claimed using the grant.

https://www.simpleenergyadvice.org.uk/green-homes-grant/questionnaire

Strong tenant demand drives up rents

Average monthly rent in the UK is up again for the 3rd month in a row, likely due to the decrease in first time buyers moving out of their rentals.

Good news for landlords who have been sympathetic by giving reduced rents or deferrals during the COVID crisis.

Apart from London which saw a year on year decrease (sorry London landlords)

https://homelet.co.uk/homelet-rental-index

Have a great week and speak to you soon!

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