Welcome to the Weekly Summary for 26th June 2020
Lots of “Same Same” news this week, as the world comes out of Lockdown and everyone guesses, analyses, and predicts the future… over the coming weeks there will be a blend of the Good and the Bad. we will sift it out for you
Landlords collected less than 20% of their rents for the 3rd Quarter – The rent in advance for the 3rd quarter of 2020 was due this week for Commercial Landlords… maybe some are delayed or some will not pay at all… but very tough times for Commercial Landlords for both office and retail space
House market buoyant but storm clouds are gathering What a Headline! …. Read the article and in fact, Mortgage Lenders are reducing high Loan to Values (no bad thing) House sales rose again in June, albeit not as high as May – where there was pent up demand. The North continues to benefit… BUT maybe the Headline should read “House Market comes back to life slowly, do stay aware of unemployment and mortgage availability if you are a homebuyer”… but that would not get your attention and does not include Family Building Society or Yorkshire Building Society
Capital idea – high numbers still moving out of London An interesting phenomenon was predicted due to covid-19 and looks to be getting real momentum… the focus is on London (as usual) but this story is nationwide to differing degrees… Definitely one to Watch!
The Housing Shortage remains at the top of the agenda for most local governments and the Local Government Authority is backing councils with an announcement last week of 100,000 Social Housing units needed and Councils mist be given the power to build 1000’s… we could not agree more, but they need to money to go with that power!