March 29, 2016
Property prices in the UK have recently surpassed the £300k mark with its engine being fuelled by growth in the country’s North and West rather than the capital. For the first time in history, buying a house in England and Wales will now cost you more than £300,000 on average, a recent study revealed. Rightmove explained that the country’s engine for property value growth is experienced a shift from London to the North and West. Average asking prices for a home went up to £303,190 in March as a result. In February the average price was at £299,287.
March 29, 2016
No other town or city in all of England and Wales has seen a bigger swing in the number of apartments being sold as a proportion of all property sales. In fact, the increase in flat sales in Manchester and Salford is higher than anywhere else in the UK in the last two decades. The Government has released new data that proves that flat sale make up more than 33% of all house sales in the region, making it the highest percentage in the country.
March 28, 2016
Manchester has been named by HSBC as the UK’s number one city for property investment, boasting rental yields almost 3 times those in London. With an outlook of sustained economic investment, a growing population and shrinking supply of property, Jones Lang Lasalle expect prices to increase by 22% by 2020 and this is just the start. Manchester is the core city at the heart of the UK government’s Northern Powerhouse plans and £7 billion worth of investment is planned for the region, as Britain attempts to rebalance the economic power of the country away from London.
March 22, 2016
Investing money is not an easy task when you decide to do it for first time. First and foremost you should think about which kind of investment you want to place your money and how much you can afford to invest. After that, you will have to take into account other factors that will contribute to the successful outcome of your investment decision.
March 21, 2016
To solve the housing crisis, the UK needs to build one million more rental properties by 2021, according to Savills. Simultaneously, PwC forecast a quarter of households to be in the private rented sector by 2025. Challenged by the rising demand, the Government should rather support investment in the sector instead of actively paralising it through tax changes.
March 21, 2016
Details of how the new stamp duty surcharge on additional homes in the UK have now been provided by the Treasury following Chancellor George Osbourne’s Budget speech. From 01 April anyone buying an additional property, whether as a second home or a buy to let investment will pay an extra 3% in stamp duty. Sales completes before midnight on 31 March 2016 will not be liable for the extra charge and transactions where contracts were exchanged before 25 November 2015 will not be liable, even if completion takes part on or after 01 April.
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