This week at Track Capital, we have been discussing an exciting new investment product soon to become available with us. We anticipate that it will be a game-changer for many investors who so far have not built up enough funds to put down a deposit.
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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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- Commercial Property Market Enters Recovery – It has been a difficult time for the Commercial property sector, between lockdowns forcing shop closures and the continuance of many office employees working from home. Thankfully, it has now reached a point of stabilisation, if not full recovery. Once again collecting 100% of office rents, British Land is now finally back in profit, reporting the largest amount of workplace leasing in ten years. However, this recovery has been very uneven, with some shops and offices closing their doors permanently while others are not just stabilising but flourishing as the effects of the pandemic continue to wane.
- Government Learns How to Stimulate BTL Market – Paragon Bank’s analysis of industry data has revealed the efficacy of the government-backed stamp duty holiday for encouraging growth in the buy to let sector. When comparing the number of properties purchased during the holiday with those purchased at regular rates, results showed an increase of purchases by 52% in London alone. Other regions were not far behind this percentage, proving the overall value in tax relief schemes like the Stamp Duty holiday for future occasions where the government aims to give any sector a boost.
- UK Rents Predicted to Rise 4.5% in 2022 – Zoopla has released the latest UK Rental Market report, with results showcasing the increase in demand especially in and around city centres as ‘normal life’ begins to resume. The data indicates that average UK rents increased by 4.6% year-on-year by the end of September, putting them at the highest rate in nearly 15 years. Continued widening of the supply and demand gap is predicted to further this trend into 2022, with rents anticipated to grow again by 4.5% next year. This has far-reaching implications for all parties involved, with renters experiencing increased difficulty in finding affordable housing.
- Dubai Property Market Rebounds with Record Sales – Until recently, an imbalance in supply and demand in the Dubai property sector fuelled by pandemic-related factors led to a steep drop in property prices across the region. However, in a move that has shocked developers, the Dubai market has experienced a dramatic and sustained recovery. House prices are now rising at a rate not seen since February 2015, with a 77% increase in transactions in August year-on-year. This huge boost to the sector has resulted in Emaar Properties reporting record sales to the tune of $7.2 billion from Jan-Sept this year. in Dubai’s property market has helped its biggest property developer to report its highest-ever sales.
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.