Property Investors Weekly News: 30/11/2020
We hope that you are having a fantastic start to the week and are staying safe. It’s so crazy to think that it’s almost December and 2020 is drawing to a close. It’s been a bizarre year for all but at Sourcesome, we are now working on our goals and dreams for 2021 and getting ready to make it an epic one.
This week we have pulled together some of the hottest property news articles for your reading pleasure. Enjoy!
Green Homes Grant extended until March 2022
Boris Johnson has announced that the Green Homes Grant will be extended in England until the end of March 2022.
This means that homeowners and landlords have an extra year to carry out energy-efficient upgrades to their homes. The government will be covering two-thirds of the cost up to £5,000.
UK House Price Index – October 2020
According to Hometrack UK house price growth has jumped to +3.5%, the highest for almost 3 years. Demand for property has eased to below pre-COVID levels, but still remains 34% higher than last year.
Agents urged to support calls to extend stamp duty holiday
Estate agents are being encouraged to plead with the government to extend the current stamp duty holiday by at least six months. This is to allow transactions to be completed and to avoid a disorderly and distressing period for movers. It is believed that an extension to the stamp duty holiday would help stimulate the housing market throughout 2021.
New help to buy scheme launches next month
The new Help to buy: Equity Loan scheme will allow first-time-buyers to apply from December 16th. First-time-buyers will need to put up at least a 5% deposit in order to receive an equity loan worth up to 20% of the property’s value.
This new scheme is solely for first-time buyers and will go live next year and last until 2023.
Have a great week and speak soon!