Property Investors Weekly News: 28/03/2022
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:
Property industry reacts to Sunak’s 2022 Spring Statement
There was little focus on too much on housing in Rishi Sunak’s Spring Statement this year. Sunak did include a reduction in VAT in residential properties from 5% to 0 on the installation of energy-saving materials for the next five years. £500m was also put into the Household Support fund.
With UK rents and demand rising ‘it appears to be a good time to be an investor’
Rents paid by private tenants have risen at their largest annual rate for more than five years after spiking in the past 12 months.
New data from the Office for National Statistics (ONS) revealed that private rental prices in the UK increased by 2.3% in the year to February, the largest annual growth rate since December 2016.
Tenant demand for pet-friendly properties on the rise
National Pet Month commences on the 1st of April and estate agency Chestertons has revealed that the rising demand for pet-friendly homes is likely to continue.
Chestertons have created a useful ‘Guide to Renting with Pets’, giving tips for tenants and landlords.
Have a great day and we look forward to working with you.