HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Rental growth has accelerated over the last 12 months from an
annual rate of less than 2% in July 2021 to 12.3% today. The average rent increased by £115 per month since last year.
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.
STAMP DUTY HOLIDAY FOR PROPERTIES COSTING UP TO £500,000 AND COMPLETED BEFORE APRIL, 2021 IN ENGLAND
The government has temporarily increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland. First-time buyers will not be taxed if the property is costing £500,000 or less and the legal transaction is being completed before April 2021, more expensive properties will only be taxed on their value above that amount.
According to a recent report, around 5 million UK households, or 21% of the total, are in private rented accommodation. This is set to rise to 5.79 million (or 24%) over the next five years.
Unveiling its policy plans as the Conservative Party conference began yesterday, the government said it would begin consultations on Sunday to increase the stamp duty on individuals and companies not paying tax in the UK.