Property Investors Weekly News: 07/06/2021
It’s another new week, the sun is still shining, and we have goals to go and smash!
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 soar to new record high as market sees strongest growth in seven years
House prices in the UK rose again last month by around £3,000 bringing the average property price up to a record high of £261,743.
Mays 1.3 percent increase means the average home in the UK has increased by more than £22,000 – or 9.5% – in the last 12 months, according to figures from Halifax.
The government’s stamp duty holiday, which saw stamp duty scrapped on properties worth up to £500,000, is largely the reason of the UK’s booming house prices in the last year.
First-time buyer demand and stalled price growth help city centres bounce back
Rightmove has recorded increased demand in city centres and smaller properties after the site analysed over 1.6 million properties. A Rightmove expert claimed that buyers can grab a “relative city bargain”.
Sustained demand sees regional rents climb 4%
Tenant demand continues to climb as the economy reopens and some normality returns following the third lockdown.
Latest date from Homelet reveals that the average UK rent outside of London is now at £997, up by 4.0% on the same time last year.
Almost 1.7 million homes unable to improve energy efficiency to C rating
Almost 1.7 million homes in England and Wales with an EPC rating between D and G cannot be improved to reach a C rating, according to new research by Rightmove.
Currently, 59 per cent of homes have a D rating or worse, according to Rightmove, and 11 per cent will never obtain a C rating even if recommended energy saving improvements were made.
The Government’s current aim is to have as many homes as possible reach a C rating by 2035 in England and Wales, with an earlier target of 2030 for private rented homes.
Have a great week and looking forward to speaking to you soon!