Weekly Property News Round Up – 25.02.23

Hello,

I hope you’ve had a wonderful week. Despite media fears around UK economical strains, we are experiencing continued high levels of interest and an influx of brand-new off-plan developments for investors and homebuyers to choose from, both of which signify a strong and healthy market.

If you are wondering whether now is the right time to invest, speak to a member of our team for an in-depth look at your budget, preferences and what is on offer in the UK right now to suit your goals.

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 57: Mortgage Market Update With The Property Investors Broker – Sam Norris – 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.

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Property News This Week

• Most UK Property Professionals Want Digital I.Ds for Retail Sector – Credas Technologies, a company that specialises in the implementation of digital identities, has recently published a survey that investigated the sentiment surrounding digital I.Ds among property professionals. According to the results, 75% of participants believed that the introduction of rules to govern how digital identity service providers act is a positive step forward and 68% believed digital identity checks to be an improvement within their sector. 67% of those asked would be happy to see similar schemes used across the residential sales sector and 71% believed the use of a robust digital identity system would help improve the standards of the industry.

 

• Landlords Rejoice As Rent Values Outperform House Prices – Despite the government’s continued persecution of private landlords, rental yields in the UK have swelled as rent values surpass house prices, allowing landlords to enjoy inflated rental yields. Yields across the UK have grown by up to 2.5% since the beginning of 2022. This is great news for landlords who have been struggling to get their businesses back on track since rules applied throughout the pandemic left many landlords struggling to stay afloat. Combined with the abandonment of the planned capital gains increase, could things be looking up for the PRS?

 

• Buyers Return to the Capital & North London Prices Shoot Up – According to data published on Monday 20th February by Rightmove, asking prices for homes in the borough of Camden have increased by 17.2% compared to the same time last year, and have grown by 6% just in the last month. This jump signifies a strong buyer’s attraction flooding back to our capital after a long period of absence. With an average asking price of £1.16 million, Camden remains one of London’s most unique and edgy boroughs with a unique melting pot of cultures and addictive market atmosphere, combined with its close proximity to the open greenery of Primrose Hill and Regent’s Park.

 

• Buyers Return to the Capital & North London Prices Shoot Up – According to data published on Monday 20th February by Rightmove, asking prices for homes in the borough of Camden have increased by 17.2% compared to the same time last year, and have grown by 6% just in the last month. This jump signifies a strong buyer’s attraction flooding back to our capital after a long period of absence. With an average asking price of £1.16 million, Camden remains one of London’s most unique and edgy boroughs with a unique melting pot of cultures and addictive market atmosphere, combined with its close proximity to the open greenery of Primrose Hill and Regent’s Park.