Weekly Property News Round Up – 15.04.23

Hello,

I hope you have had a lovely week. At Track Capital we are pleased to announce a brand-new selection of incredible investment options situated in prime areas of the UK.

Crown View in Central Manchester is a skyline-defining 37-storey riverfront residential tower block overlooking 46 hectares of open green space and offering an incredible range of first-class amenities for residents.

Are you interested in prime Manchester stock? Reply to this article for more information.

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 61: Where Should You Be Investing Right Now? – The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.

Property News This Week

  • The Era of Ultra-Low Interest Rates Poised to Make a Comeback? – The International Monetary Fund (IMF) has forecast the return of ultra-low interest rates and an imminent steep drop in inflation; music to the ears of thousands of UK residents struggling with the cost of living increases and climbing mortgage rates. The financial agency has cited that the combination of an ageing population along with low productivity levels will reverse the rampant inflation we have been experiencing in the past couple of years. This, the agency says, will bring interest rates back to pre-COVID levels.

 

  • Rise In Property-Related Searches Suggests Market Upswing – A recent study taken by property experts at Legal Bricks has revealed an increase of between 20 and 49% in the number of various property-related searches on Rightmove & Zoopla across the UK between November 2022 and January 2023. This increase appears to defy the predictions of experts that a 2023 property market slump would occur. However, internet searches alone do not prove definitive evidence of true market activity and may instead indicate the number of people daydreaming of a home that may even be completely out of reach.

 

  • UK Areas with Greatest and Smallest House Price Gains Revealed – In the past decade, UK house prices have risen exponentially, with the average UK price having changed from £167,716 in 2013 to £290,000 in January 2023 – But that is not to say that all regions have enjoyed an equal share of the bounty. According to an analysis by estate agent Hamptons International, 17 areas have at least doubled in price in the past 10 years. Waltham Forest in London has seen an increase of 119%, followed by Hastings & Thanet in the South of England at 115%, with chronic undersupply being the driving factor. In contrast, the City of Aberdeen has suffered a capital loss of -15% at the same time, following the North Sea energy industry slump.

 

  • What Schemes Are Available to Help First-Time Buyers? – In 2022 the number of first-time UK homebuyers dipped by 11% as inflation drove the average deposit required to nearly £62,500 and the average property value swelled to 7.6 times the average UK salary. However, there are many little-known schemes to help first-time buyers get on the ladder, such as; SDLT Relief, The Mortgage Guarantee Scheme, First Homes, Shared Ownership, Right to Buy and many more. Each scheme comes with its own rules and requirements, so it is important to complete due diligence on any you choose to undertake.

 

That is all we have for you this week. If you have any comments or questions on this week’s news summary, please email us at [email protected]  – if not, see you next week.

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