Property Investors Weekly News – 09/03/2020
Great news for the educated property investor!
This week we’ve pulled together some of the hottest news stories for property investors for your reading pleasure! So strap in, turn off the tv and get ready for some updates:
Stamp duty increase for Non-UK Residents
It’s not confirmed yet, but it looks like that an extra 3% could be added to stamp duty for Non-UK Residents buying in the UK. This will be added on top of the current minimum 3% that’s charged for second homes or buy-to-let properties. This increase could catch out foreign property investors if not calculated into their figures.
Demand for rentals at record high!
ARLA has reported that demand for rental accommodation is at an all time high, however rental stock has fallen to the lowest level in seven months.
EPC – E minimum rating
The date (1st April 2020) to get your buy-to-lets to meet a minimum of an E on the EPC rating is looming. If you need to make improvements to meet this, take a look at the exemptions as they may help you in some cases.
Coronavirus – Has it stumped house price growth?
News on Coronavirus is everywhere, and now it’s been potentially linked to the housing market as well. We had a high of 4.1% of house price growth in January and in February this had fallen to 2.8%, although Russell Galley, managing director at Halifax says
“The sustained level of buyer and seller activity is strong compared to recent years, with positive employment conditions and a competitive mortgage market continuing to support demand.”
The above news will be great for the educated property investor, demand at a record high, but problems for landlords who may not understand how to navigate these issues will potentially mean better deals coming our way.
Have a great week and speak to you soon!