Property Investors Weekly News: 7/9/2020
How is it September already? It’s been an exciting start to the month in the world of property. We have 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:
Eviction ban extended by 4 weeks until 20 September
The eviction ban that was set to expire on 23 August, has been extended until 20 September.
In most cases, until the end of March, renters will also get six months’ notice if landlords plan to evict them.
Ten-year high for homes ‘selling within a week’ says Rightmove
Rightmove has analysed over 200,000 properties that sold between 8th July and 31st August to reveal the impact of the temporary stamp duty holiday. They found that sellers taking advantage of the temporary holiday are more likely to find a buyer within the first week of marketing compared to this time last year. One in seven properties sold by the agents did so within a week of being listed on Rightmove up from one in ten in 2019.
Coronavirus: Pent-up demand ‘leading to quicker home sales’
Pent-up demand has led to properties taking less time to sell since the height of lockdown according to Zoopla.
In the 90 days to mid-August, a three-bedroom home has typically sold in 24 days. This is 12 days quicker than the same period a year ago.
Have a great week and speak to you soon!