Property Investors Weekly News: 27/7/2020
We hope that you are all caught up from last week’s property news and ready for the week ahead. If you have not read up on the latest news, fear not as we have collated all the hottest property news articles for you to read in this email. Pay close attention to your inbox for an exciting deal dropping in there this Wednesday!
Landlords warned to prepare for surge of post-lockdown tenant moves
Following the lifting of lockdown measures and recovery of the rental sector, landlords and letting agents are being advised to prepare for a wave of new tenancies. This is a combination of tenants whose contracts are about to expire and need to move and those who were looking to move before lockdown but couldn’t and also people who decided that they wanted to move during lockdown.
UK property buyers should invest by Christmas to get stamp duty savings
Property buyers in England and Wales can make big stamp duty savings until March 2020. Rightmove are urging buyers and sellers to act quickly to secure deals. Sellers will ideally need to find a buyer before Christmas, to allow a further three months for completion of the legal process to beat the deadline.
Disappointment as six-month notice period in Wales
Landlords in Wales will need to give tenants six-months’ notice when repossessing homes under new rules announced by the Welsh Government today in response to the COVID-19 crisis.
Landlords have not taken this announcement well and have reacted with anger and disappointment to the plans.
‘Mini-boom’ pushes house to new record high: Rightmove
The average asking price of property coming to the market in Britain has hit a record high this month due to an unexpected ‘mini-boom’ according to the latest Rightmove figures.
Data shows that asking prices are now 2.4% higher than in March pre-lockdown and 3.7% higher than in July 2019.
Have a great week and speak to you soon!