Property Investors Weekly News: 22/03/2021
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:
Demand for property reaches record-breaking ten-year high
Rightmove has revealed that this is the strongest spring sellers’ market for a decade. Asking prices increased by 2.7 per cent to £321,064 in the year to March. This was driven by lockdowns and fuelled by government incentives.
Month on month, prices rose by 0.8 per cent with number of potential buyers enquiring about each property reached a record high.
The number of enquiries per property was 34 percent above the figure for the same time last year.
Legal & General secures pipeline of 5,500 new affordable homes
Insurance giant Legal & General has lined up a 5500 affordable homes pipeline, with a number of the sites in London.
Legal & General wants to create a portfolio of 3000 UK shared-ownership, social and affordable rental properties per year by 2023.
Yorkshire Building Society first to bring back 95% mortgages
Yorkshire Building Society will be the first lender to resume selling 95% LTV (loan-to-value ratio) mortgages, nearly a year after the COVID pandemic frightened lenders away from low-deposit home loans.
The deal will only be available to first-time buyers and the society will apply strict conditions on lending, including ruling out flats and new-build homes.
Cornwall surges in popularity to become the UK’s most desired place in live
Lockdown has seen a huge shift in people who were living in cities enquiring about properties outside of that city.
Demand has risen for larger homes, gardens and green space. People are seeking out beautiful countryside, coastal towns and villages to move to.
The latest data and analysis from Rightmove has revealed that the county of Cornwall has overtaken London as the most searched location for buyers on Rightmove.
Have a great day and we look forward to working with you.