HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Tourists from Hong Kong and mainland China have started a trend. As London becomes too costly, Manchester – beneficiary of “northshoring” – has emerged as an attractive destination.
Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.
While UK and Australia properties gives decent rental income and impressive capital appreciation, Hong Kong investors target them also for their next generation.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 December 2021, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.15 percentage points, to 0.25%.