This has been a hectic week for Track Capital as August saw us hit our busiest sales month to date, helping investors source and purchase the ideal properties for their portfolios. We’ve had some fabulous incentives to offer on some of our most stunning developments too, and will continue working hard to find the best deals to offer our clients.
Also, we are now preparing to launch an exciting new project. More details coming soon…
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 having to click through.
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Property news this week
- Construction Levels at Ten-Year High – The UK property market is still experiencing the effects of a changing commercial landscape that first came about at the onset of the pandemic, with sectors such as construction, retail and investment being particularly affected. Retail sales are showing strong signs of recovery as the economy gains momentum. Real estate in the industrial sector looks promising for investors as it continues to soar. The prospect for rental growth is attracting plenty of investment attention. In the fourth quarter of 2020, £4.6bn was invested in the industrial sector, and this healthy investment level is staying steady into 2021.
- Average Buy-to-Let Home Gained £15K in the Pandemic – A research report from mortgage lender Shawbrook Bank into the effect the pandemic had on landlords has revealed that the typical rental home has increased in value by nearly 6% since March 2020. Some areas such as Scotland saw prices rise by nearly double the national average. The report also revealed that over half of landlords would have bought even without the stamp duty holiday. The data also shows that even though the average value of the rental sector has risen, the number of properties available to rent is still experiencing a shortfall.
- Far More Tenants Keep Pets than Admit it – Online agency Intus Lettings has surveyed 500 of their registered landlords and come to the conclusion that many renters appear to keep pets regardless of whether or not they are contractually permitted to. Among the findings, a shocking number of bizarre items left by departing tenants have been reported by landlords, such as an uncaged tarantula, a donkey in the garden and even ducks in a bath. This report has spectacularly highlighted the importance of carrying out regular inspections and making sure contracts and deposit policies are crystal clear to make sure landlords have everything they need to protect their properties.
- Home Purchasing Highest Since 2007 – Property purchase activity during the second quarter of 2021 hit its highest levels in nearly 15 years, according to the latest Household Finance Review by UK Finance. The review combined new loans issued to first-time buyers and movers and compared the total with previous years. It is suggested that strong activity was driven by the BTL market and first-time buyers who were encouraged to enter the market with the renewal of the Help to Buy equity scheme.
The extended stamp duty holiday is also likely to be responsible for the heightened activity, along with continuances from delayed purchasing throughout the lockdowns.
That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected] – if not, see you next week.