HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Chancellor Rishi Sunak has extended the stamp duty holiday in the Budget. Anyone buying a home worth up to £500,000 before the end of June will now not pay the tax, and could save up to £15,000, with a reduced discount available until the end of September.
Higher rental values were recorded in almost every region of the UK, rose by an average of 2.1% in September. The average monthly rental of new tenancy in September was £927 compared to £908 in the same month of last year. Compounded by the fact, the demand for rental properties will remain high.
Manchester and Birmingham will see rises of 20 to 30 per cent over the next three to four years, based on the shape of the regional economy and the trajectory of the current housing market cycle.
The Competition and Markets Authority has confirmed that domestic consumers have been overcharged for electricity usage, and it brings a huge criticism of the ‘big six’ suppliers who have been controlling the market over many years. To further solve this problem and the failing market, Nottingham City Council and Bristol City Council took a step forward and established fully licensed ESCOs (Energy Services Companies), which can control the energy supply and help to boost the economy.
New research finds up to a third of young people in Britain will now rent for their entire lives, underlining the need for more investment in key UK city markets.