Property Investors Weekly News: 31/01/2022
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:
UK housing market activity expected to see significant dip
According to a conveyancer working at Osbourne’s Law in London, they have predicted that property transactions in the UK this year will fall by at least 25% compared to 2021.
2021 saw the busiest year since before the credit crunch in 2007. The extension of the stamp duty holiday can be thanked for this.
Rents increasing at fastest rate on record: Rightmove
Rents are rising at their fastest rate on record, according to data from Rightmove. High demand among tenants and low supply of good rental homes means there is fierce competition in this part of the property market.
Asking rents to have risen 9.9% on average to £1,068 a month outside of London. Areas seeing the biggest rental rises are in Wales.
Landlords brace themselves for £10k EPC upgrade
Landlords are expecting to pay on average £10,400 per property to make the upgrades required to meet new energy efficiency rules.
Proposed EPC changes for 2025 will require all newly rented properties to have an EPC rating of least C. This deadline is extended to 2028 for existing tenancies.
Have a great day and we look forward to working with you.