Property Investors Weekly News: 24/05/2021
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:
Residential property transactions see busiest April since 2007
Latest data released by HMRC has revealed that UK residential transactions in April 2021 have increased 197.8% year on year.
The provisional seasonally adjusted estimate of the UK residential transactions in April 2021, 179.5% higher than April 2020 and 35.7% lower than March 2021.
House prices continue upward trend, rising 10% in March: ONS
House prices continue to soar, rising 10.2% to March 2021, the highest growth seen since August 2007 according to figures from the Office for National Statistics (ONS).
The average price for a house in the UK rose to £256,405 in March, up 10.2% in 12 months.
This has been largely fuelled by the temporary stamp duty holiday, the continued growth of the UK economy following the coronavirus shutdown and the successful vaccine rollout.
London rents at five-year low but rising in every other region
Excluding London, average monthly asking rents across the country are at a record high of £982 per month, up 4.2% since March 2020 – the highest annual rise since 2015.
Have a great week!