Property Investors Weekly News: 17/05/2021
This week 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:
Government reveals ‘positive’ evictions ban wind-down plan
The ban on eviction enforcement in England will come to an end on the 31st of May.
From 1st June, bailiffs will be able to repossess properties once again, and landlords will no longer have to go give six months’ notice before commencing eviction proceedings.
77% of London home movers set to leave the capital for good
According to data from a recent poll of SpareRoom users, 77% of Londoners plan to leave the capital altogether when they move homes.
In the first few month’s of 2021 demand vs supply in London was down by 23% year on year, this should certainly change when the UK opens up again.
Buyer demand outstrips homes on market
Homes listed for sale are at very low levels, pushing up house prices as buyer demand remains strong.
Buyer demand is firm across the UK market, according to the Royal Institution of Chartered Surveyors (RICS), but the flow of properties being listed for sale has slowed.
Property is the new toilet roll!
Average house prices rise further into uncharted territory
The average asking price of homes coming on to the UK property market hit a high of a third of a million pounds in May, according to figures from the listing’s website Rightmove.
The average asking price has increased by 1.8%, to £333,564.
Have a great week and looking forward to working with you soon.