HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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"The Bank of England has raised interest rates from 0.5% to 0.75% after much speculation. Expectations of a strengthening economy, solid employment levels, more consumer spending and the potential for wages to rise have all played a part in the decision." (BBC News)
The average rent has now risen above £800 per month across England and Wales.
New research saw average rental figures in July hit £804, up from £789 in the previous month - an increase of 1.9%. This is the fastest month-on-month rise since records began in 2009.
From May 2016 onward, there has been a relatively gentle and almost straight-line increase in house prices, despite the Brexit referendum in June 2016.
The number of applications from China and Hong Kong rose from more than 17,000 last year to 21,000 this year. Student tenants are increasingly an important group for the property market.
Manchester and Birmingham set for faster growth than rest of the country as property value rises in northern England.