Buy-To-Lets Keeping Housing Market Buoyant
|Author: Craig Bees||Published: 26th January 2016 13:29|
Buy-to-lets keeping housing market buoyant
According to the Royal Institute of Chartered Surveyors (RICS), landlords trying to beat Chancellor George Osborne’s stamp duty deadline are behind the latest upbeat assessment of the housing market.
In its latest survey of residential members, it reports that demand in December flouted the usual seasonal slowdown and rose to a three-month high after the government announcement that a 3% duty surcharge would be imposed on April 1st.
Chartered surveyors reported a rise in new buyer enquiries in December, up by 19% from November, and this trend is continuing throughout the country. Locally we have experienced a 20% rise in buy-to-let landlord enquiries, fuelling an increase in property sales up to £250,000 by a similar level. On two occasions last week, houses were snapped up within hours of being available and all at the asking price.
For the next 2-3 weeks we expect the trend to continue but as we approach the April 1st date, enquiry levels will dwindle so for the remainder of January and early February, if you have a property to sell in that price range call our valuation team on 01327 359164.
Further positive news saw high prices across most market sectors continued to be fuelled by a relative shortage of properties, but new instructions to sell homes rose for the first time since January last year.
Predictions in the longer term are that the market will continue to rise by a further 5% over each of the next five years, so if you can afford to get on the property ladder, or make a move to a bigger home, now is a very good time to do so.
Northampton Saints tickets: this month’s four lucky winners will watch Saints play Wasps on Friday night at Franklins Gardens. Now’s your chance to win too and see Saints v London Irish in the Aviva Premiership on Saturday February 13 (3.30pm), also at Franklins Gardens.
How To Enter: Every valuation and instruction for sale or rental between now and Monday February 8will be entered into the draw and the winners notified by e-mail.
But if you’re not into rugby, we can give you one month’s membership to Whittlebury Hall Leisure Club instead, completely free of charge. So if you’re thinking of selling or letting your property, give yourself the chance for a great family day out or a relaxing time at the leisure club by calling 01327 359164 and speaking to our sales or lettings team.
Last chance to get tickets for the Last Night of The Proms at Whittlebury Hall, sponsored by Bartram&Co, on Sunday February 7 go to
http://www.towcester-rotary.org.uk/product/last-night-of-the-proms/. Promises to be another great night. Hope to see you there.
Until next time.
Craig Bees, MD Bartram&Co
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