Property Investors Weekly News: 10/8/2020
It’s been another exciting week in the world of property. We have 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:
New homes to get ‘automatic’ permission in England planning shake-up
Housing Minister Robert Jenrick announced a “permission in principle” will be given to developments on land designated in one of three categories: for growth, for renewal and for protection. The Government says sweeping reforms will ‘cut red tape, not standards’.
Boris Johnson announced in June that the government was set to make their biggest changes to planning permission laws since the Second World War in order to “build, build, build”.
Mini house-buying boom leads to highest ever monthly price
House prices hit a new all time high in July as the property market reopened after lockdown.
Figures from the latest Halifax Price Index state that the average price of a home was £241,604 last month, 1.7% higher than June’s £237,834.
Prices are 3.8% higher than July 2019. It is believed that pent-up demand, and a lack of available houses has combined to push up prices.
Two-speed market forms as rental growth in London tumbles
Newly released data from Zoopla has shown demand for rental properties falling in London and a rise in the rest of the country.
One in four eyeing up a house move in the next 12 months
Latest research from Knight Frank Global has analysed the impact that COVID-19 has had on the property markets and has found that buyers attitudes have changed considerably.
The survey which represents the views across 44 countries, found that one in four people are more likely to move house in the next 12 months as a result of the pandemic.
Have a great week and speak to you soon!