Thu 26 May 2016
The Buy-To-Let stamp duty hike at the end of March saw a serious spike in house sales across the UK, with an 80% uplift on the previous March, leaving a serious property drought nationwide. With the gap between supply and demand increasing further still, house prices are now at an all time high in many places across the UK.
The national trends are also being mirrored locally. We’re finding the most in-demand properties are 2-3 bed properties, in particular semi-detached family homes. Properties are now selling at their full asking price as a matter of course, with many being sold over-asking. We’re also registering a lot of first-time buyers who are ready to take their first step on the ladder – however they’re still coming up against significant competition in investment buyers, despite the new additional 3% levy.
"I have always found Lovetts to be very responsive to any concerns I have. The monthly statement and my rent are always produced on time and they send out an annual statement for tax purposes which is invaluable. Of the 4 letting agents I have used over the past 10 years Lovetts are by far the best!"