Category: property market news

Stamp Duty stumble

Income to the Treasury from Stamp Duty Land Tax (SDLT) receipts fell by 7.5%, the equivalent of £1 billion in the financial year to the end of March 2019.

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Affordability ratio

The affordability ratio for England and Wales hit another peak at 7.83 in 2018. This means that the median property price in England and Wales is now 7.83 times more than gross average annual earnings, according to new data from the Office for National Statistics (ONS).

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Turn the Heating Down

6 out of 10 people across the UK support the drive to cut emissions to almost zero by 2050, according to a recent poll reported by the Independent. To reach net zero in this timeframe, millions of people will need turn their heating down to 19°C in winter, as one of many lifestyle changes according to the Committee on Climate Change.

A third of UK greenhouse gases come from the domestic sector. Research by the Department for Energy and Climate Change and Cambridge Architectural Research (2012) identified the two top energy saving measures for households were: 1) turning heating down by 2 degrees from 20°C to 18°C and by 1 degree from 19°C to 18°C.

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ONE IN TWELVE LANDLORDS UNAWARE OF LEGISLATIVE CHANGES

One in twelve landlords is unaware of a suite of legislative changes that occurred across the lettings industry in recent years, according to the findings of the English Private Landlord Survey 2018 published in January.

Over 80% of landlords were aware of the additional 3% stamp duty burden for the purchase of a second home, with two-thirds having knowledge of the changes to mortgage tax relief and the impending tenant fee ban.

Less well known are the reduction in Capital Gains Tax for non-property investments, and knowledge of the minimum rent to mortgage cost ratio required by lenders to approve a buy-to-let mortgage.

The survey notes that legislative changes are considered the main concern for current landlords, while agents are more concerned about tenant behaviour.

If you are a Landlord, or thinking of becoming one and you too were unaware of these legislative changes, please get in touch with me and I would be more than happy to discuss these with you. Now is also the perfect time to take advantage of the current offer of three months free management we have available for new Landlords as well as existing Landlords who are bringing new managed properties on with us. The majority of our property management team are ARLA qualified and would be happy provide you with stress-free management and piece of mind for your property or portfolio. Please do not hesitate to get in touch!

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5 Top Tips For Your Kitchen

Whilst the living room is usually considered ‘the heart of any home’ in most UK households, the kitchen plays a much more central role in day-to-day family life. Follow these simple guidelines to achieve kitchen bliss!

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0% management fee for 3 months

We are offering a promotion for new managed properties for New and Existing Landlords. Please give me a call or pop into the Didsbury Branch. Thanks Moharram

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INCREASING INFLUENCE OF PORTFOLIO LANDLORDS

The number of portfolio landlords is increasing. In 2018 one in every six landlords had a portfolio of five or more properties, up from one in 20 back in 2010. It is estimated such landlords now account for virtually half of all tenancies.

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Hello!

Here’s a quick video of me sharing a snapshot of my career within the Lettings Industry. If you have any requirements or wish to discuss an investment in the area, please get in touch 0161 249 5160.

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