Major Australian Bank Betting on UK Housing Market
Leading Investment bank Macquarie is to set up a new business called Goodstone Living which will invest £1bn in UK property. It plans to buy, develop and operate multi-family housing complexes in London as well as other cities. The bank’s spokesperson noted that the new business plans to capitalize on the growing supply shortage, digitization and demographic shifts taking place in developed markets. Investors in the UK believe that as lockdown restrictions ease, the rental market in London will be boosted as young professionals begin flocking back to the Capital.
Posted by: Kelvin Tayfield, Sat, Jul 3rd 2021
UK Property Remains One of The Most Trusted and Stable Investments
It seems very little can hurt the UK property market. Five years ago, when the Brexit referendum result was announced many respected institutions including major banks and rating agencies predicted negative growth. Sure, Brexit did have an impact however the market once again proved it’s resilience and managed to grow in excess of 20% since the announcement. Throw in the uncertainty created by the stop-start Brexit negotiations and the Pandemic and one can see the underlying stability that this asset class offers investors. In fact, buy-to-let investors saw a 4% increase in rentals year on year in May 2021, defying any negative Pandemic impact.
Posted by: Kelvin Tayfield, Sat, Jun 26th 2021
Covid Traffic Light System Creating Pent-Up Demand for UK Property in the Middle East
According to Knight Frank Middle East, the travel limitations created by the traffic light system which has all GCC countries either on the amber or red list has resulted in many Middle Eastern buyers putting property investment decisions on hold. The company noted that on line viewings are very popular but when it comes to personal property purchases, most people prefer to conduct physical viewings. Knight Frank and other industry specialists have commented that the ending of the stamp duty holiday will not make much difference to demand from the region, particularly in London where the savings are insignificant in relation to the cost of homes.
Posted by: Kelvin Tayfield, Sat, Jun 19th 2021
UK House Prices Likely to Keep Rising Despite Reaching Record High
One of Britain’s biggest mortgage lenders, Halifax revealed that house prices increased 9.5% year on year in May, the fastest rate of growth in seven years. This confirms survey results from a Nationwide survey that found a 10.9% year on year growth. Halifax commented that June will be a very big month as stakeholders rush to conclude transactions before the stamp duty holiday ends. The lender believes the market will continue to thrive as the lockdown eases, confidence in the economy returns and we enter the traditionally busy summer period. They commented further that many buyers have been able to accumulate savings as a result of the lockdown and will be looking to invest further in real estate.
Posted by: Kelvin Tayfield, Sat, Jun 12th 2021
Foreign Buyers Taking Advantage of Mortgage Options for UK Property Investment
Mortgage brokers, banks and real estate agents are reporting a surge in interest in UK property from both foreigners and UK expats. Skipton International, a specialist offshore mortgage bank reported a tripling in mortgage completions from Hong Kong buy-to-let investors whilst enquiries from EU countries were up 34% in Q1 this year. A leading London mortgage broker reported a 137% increase in applications in April with £500k being the ‘sweet spot’ for buyers. The broker noted that they expect sustained interest as lockdown restrictions ease and the vaccine roll out continues.
Posted by: Kelvin Tayfield, Sat, Jun 5th 2021