Property Investors Weekly News: 25/5/2020
We hope you have had a fantastic Bank Holiday weekend and are now unwinding down now for the productive week ahead of us. We have compiled together some of the hottest property news articles for you. Sit down and turn off the TV, it’s time to get reading on what has been happening in the world of property over the last week.
Coronavirus: UK property sales hit record low in April
Spring is usually a busy period for the property market. This April however, saw the number of property sales plunge lower than the worst part of the financial crisis after coronavirus shut down the market.
Mortgage payment holiday extended for further three months
Mortgage holidays started in March, allowing people to defer payments. Homeowners who are still struggling to make payments due to coronavirus will be able to extend their mortgage payment holiday for a further three months.
Working from home putting pressure on commercial property market
With the majority of people working from home due to coronavirus and with no set date of when they could return, some businesses may carry on this way of working in the future. This could have a disastrous impact on commercial properties with businesses potentially looking to cut overheads such as rent for vacant offices.
Auction house reports £5m in sales as investors turn to online property platform
Pugh, an auction house with auction rooms in Manchester and Leeds, has reported £5 million worth of sales for its April property auctions.
We hope you found these news articles useful. Remember you can’t control what is happening in the world right now but it is so important to keep a positive mindset. Always stay focused on achieving your goals.
Have a great week and speak to you soon!