Property Investors Weekly News: 29/03/2021
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:
ONS UK House Price Index: January 2021
Average UK house prices increased by 7.5% over the year to January 2021, down from 8.0% in December 2020, according to the latest UK House Price Index from the Office for National Statistics.
The North West saw the highest annual growth in average house prices (12.0%), while the West Midlands saw the lowest (4.7%)
The rise in house prices in January reflects a busy start to the year for the market which has been made even busier with the extended stamp duty holiday.
One year on: how the coronavirus pandemic has changed what home-movers are looking for
Cornwall replaces London as the most searched for place to live in Britain. More homebuyers are now looking to escape from city centres to the countryside and coastal areas.
In February 2021 there were more than five million searches on Rightmove by homebuyers looking for a dream home in Cornish towns and villages.
Strongest housing market in a decade as residential transactions up by 48.5% in February
According to the latest HMRC Property Transaction data, the estimate of UK residential transactions in February 2021 was 147.050 – a 48.5% rise against February 2020 and 23.0% higher than January 2021.
Breakthrough! Lender creates buy-to-let mortgage offer in 48 hours
Shawbrook Bank says that it can provide a formal mortgage offer to a buy-to-let-investor in just 48 hours thanks to using new API technology.
Green Homes Grant scheme to insulate houses axed
The government has scrapped its flagship green homes grant scheme just six months after its launch.
The abandonment of the £1.5bn programme, which offered households grants of up to £5,000 or £10,000 to put in insulation or low-carbon heating, leaves the UK without a plan for tackling one of the biggest sources of greenhouse gas emissions.
Anyone who has had their application for vouchers accepted will receive any money owed, but no new applications will be accepted after the end of this month.
Have a great day and we look forward to working with you.