Property Investors Weekly News: 3/8/2020
What a month July was for property news! We saw the introduction of the stamp duty holiday which lead to the interest in properties skyrocket. The biggest planning shake-up since WW2 was also revealed whereby new regulations from the Government is to give greater freedom for building and land in town centres to change their use without planning permission. We can’t wait to see what August has in store!
This week we have pulled together the hottest property news topics over the past week for you. Enjoy!
UK house price enjoy surprise rebound in July
UK house prices made a surprising rebound in July, as prospective buyers re-entered the market after government restrictions were lifted. Raise of pent-up demand and changes to stamp duty are thought to be behind the gains.
Co-living enquiries surge by 136% as young couples seek to share the cost of living
According to the latest figures released by Built Asset Management, there has been a marketed rise in young professional couples looking to live in shared rental properties and reduce their living costs.
The growing trend across the capital has resulted in a 136% rise in enquires from couples seeking shared rental properties between June 2019 – 2020.
46% of the nation can now move home stamp-duty free
The recent changes to stamp-duty were welcomed by everyone in the property industry as a much-needed step in the right direction to help the property market bounce back following lockdown. This change is helping potential homeowners at a time when most needed.
Newly released figures from Just Move In now reveals the scope of the stamp duty holiday, with 46% of UK homeowners now having no stamp duty to pay.
London sees surge in demand from Hong Kong buyers
Mortgage brokers and estate agents have reported increased demand from Hong Kong buyers following new security laws in the region as well as UK stamp duty changes, low interest rates and a weak pound.
Have a great week and speak to you soon!