Weekly Summary 10th July 2020
A mixture of news this week… with some ups and downs for Property Investors… but as the end of Furlough is in sight and the courts start opening again for evictions and the likes it is certainly going to be an interesting few months
The long-awaited cut did come, and for Homeowners Great News. For Investors ‘relatively good news’ a cut in Stamp Duty payable for the element of purchase price (if there is one) over £125,000…. But that darned 3% levy has not been removed… we will be watching this weekend to see if there is much noise, as the local press in our region were starting to complain yesterday evening about the negligible savings for homeowners and investors in the North East… whilst Labour are complaining that it even included Landlords and second home buyers! …. another wait and see scenario..
This was the headline that caught the attention of a number of people, a Voucher scheme for Energy Efficient Home Improvements of up to 2/3 of the cost (to a limit of £5k)… £7,500 cost of works… well worth having and doing those improvements for the planet and your pockets – what’s not to like?
The press is still reporting movement from Cities – is this a Relocation Boom… not quite but Cornwall tops the list, followed by Devon, The Lakes and Yorkshire … the driver is more space according to this article, followed by ‘being closer to family and interestingly ‘being farther away from people’ the third reason… price, lifestyle, and remote working are more likely to be the specific criteria in our view…
The Tenant Representatives ’ are starting the news rounds, are so are the property industry press in preparation for August 23rd when Evictions can restart