UK Property Prices Are Sky Rocketing!
If you haven’t already started investing in property, what are you waiting for? UK property prices just keep on going up and up. It is rather funny as last year we had property investors around this time of year who were buying our social HMOs thinking the prices would crash and wanted a 20% discount. As well as other Hong Kong property investors who thought the pound would crash. Well in both cases they were wrong. No expected property prices to shift so strongly. There is little stock and what ever is on the market gets snatched up quickly from both home buyers and property investors.
Property Buyer demand was up 24% in the week that followed the Budget on 3 March
According to Zoopla, UK house prices up 4.1% to £226,400 in the year to February
The overall demand now is 80 per cent higher than the same period in the previous four years. We are struggling to find properties for Social Housing. We are selling to Hong Kong investors who want to save the new 2% SDLT surcharge coming in on April.
What is very interesting is that post covid trend means houses are taking an average of 42 days to go from the point of listing to sale agreed, compared to a longer 62 days for flats.
What is the best part of social housing is that you dont have tenants who do not pay. Your tenant is basically the home office and we get paid like clock work. We provide a quality property and do not have voids, management plus maintenance is covered up to 5,000 a year unless it is structural.
Learn more about Social housing by contacting us!