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LATEST NEWS

Brexit ‘Round The Houses’, and buy-to-let…or not.

8th January 2019

Developers and agents alike are reporting of slowing sales in London and the south-east due to Brexit uncertainties. Crest Nicholson, a British house building company, has resorted to dropping its prices in the most expensive areas of London, where the effects of affordability is felt most.

That being said, as dreary as the market may seem, a combination of the fall in prices and the crackdown on buy-to-let investors is bringing some hope to first-time buyers. Previously where people were able to come up with their 10% deposit, they would swiftly be outbid by landlords who had more disposable income. The 3% stamp duty surcharge, and the change to the taxation of buy to let income seem to have reduced the appeal. The lack of activity in the buy-to-let market has translated into a 0.1% drop in prices for properties with two or less bedrooms.

Reports show that first time buyers and other buyers with small deposits held a bigger stake of the housing market in September 2018 and overall mortgage approvals were higher as well; suggesting that young buyers may have been helped onto the ladder by the slowing property price growth across the country along with the slow down in the buy-to-let market.

The Royal Institution of Chartered Surveyors (RICS) has said that Brexit uncertainty has crushed confidence in the property market. However, based on the above, it is clearly something that can be taken advantage of, in a positive way for so long as it lasts.

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The property market has been unstable ever since the first mention of Brexit, buyers and sellers alike appear to be taking a back seat, hoping the market is in their favour once it all settles down. One thing that hasn’t changed through it all however, is how difficult it is for younger people to get […]

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The Tenancy Protection Scheme came into affect on 06 April 2007. This scheme introduced the requirement for landlords to protect deposit received from tenants in relation to an Assured Shorthold Tenancy (‘AST’). Initially it only applied to ASTs created on or after 15 October 2015. But from 1 October 2018, the Deregulation Act 2015 made […]

Brexit ‘Round The Houses’, and buy-to-let…or not. 

Developers and agents alike are reporting of slowing sales in London and the south-east due to Brexit uncertainties. Crest Nicholson, a British house building company, has resorted to dropping its prices in the most expensive areas of London, where the effects of affordability is felt most. That being said, as dreary as the market may […]

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