Market Shows Signs Of Stabilising After Stamp Duty Holiday

The supply of property is beginning to increase and the number of homes selling for over the asking price is starting to even out, according to the latest data from NAEA Propertymark. Its figures show that the number of properties available per member branch stood at 28 in July, a slight jump from June’s figure of 23.However, year-on-year this is the lowest figure ever on record for the month of July with the previous lowest July being during 2017 when there were 35 houses available to buy per branch. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/property-market-shows-signs-of-stabilising-after-stamp-duty-holiday-naea.html

Stability Returning To Rents Across The UK

Newly released data from Goodlord has revealed a mixed picture across the UK during October. Some regions are enjoying lower void periods and stable rents, with others a little slower to stabilise. However, overall it seems to be a return to a more consistent period following a summer boom and a variable September. The UK average for void periods remained at 18 days during October, no change from the previous month. However, five out of the eight regions monitored by Goodlord saw void averages drop or remain steady. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/landlords/october-data-shows-stability-returning-to-rents-across-the-uk.html

House Prices Hold Up Better Than Forecast Amid Brexit Doubts

UK house prices held up better than expected in March as supply constraints outweighed uncertainty over the Brexit process, according to figures from Halifax. The high street lender said house prices rose by 2.6% in the three months to March compared with the same period last year. The increase was above the 2.3% annual rise predicted in a Reuters poll of economists. Prices fell by 1.6% in March compared with February, when the more volatile monthly measure surged by a record 6%. However, the monthly fall still represented a less severe correction than the 2.4% expected by economists. Read more on the Guardian website.

https://www.theguardian.com/money/2019/apr/05/house-prices-hold-up-better-than-forecast-amid-brexit-chaos

BTL Market Will Stabilise By 2021

A report by Shawbrook Bank and the Centre for Economics and Business Research predicts that activity in the BTL market will continue to fall until 2021, at which point the market will stabilise. The report uses a scenario analysis approach to chart the effect on the market of various government interventions over the years, such as changes to mortgage interest tax relief and the stamp duty surcharge, and projects this to 2023. It compares this with as picture of how the market would likely look if these had not occurred. Read more on the Mortgage Strategy website.

https://www.mortgagestrategy.co.uk/btl-market-to-be-stable-by-2021-shawbook/