An update on the property market for property investors
Covid-19 has affected us all. It’s crippling small businesses, devastating families and has made us all reassess what is important to us. For those of us in the property industry, we were in uncharted waters and at HMO on Steroids, we were full steam ahead (or as much as was possible).
We believe in educating our clients, turning them into a customer for life. So, you’ll find a series of useful updates and articles that will help you understand what’s happening in the property market.
The property industry
We are certainly in unprecedented times and with the property market active again, now is the best time to purchase your next investment property.
“According to the latest figures released this morning, average UK house prices saw a ‘modest’ fall of 0.2% during May, with early signs that market activity is beginning to pick up.”
Mortgage Demand from Investors
Figures from UK Finance’s Finance Household Finance Review show that, even through the brunt of Coronavirus, Landlords and property investors are still looking to purchase properties. Now that the property market is open again, we could see a surge in rental properties coming to the market, making it more important than ever to ensure your property stands out from the crowd.
“Remortgage buy-to-let deals remained flat, unaffected by the coronavirus and lockdown, which hit in the latter part of March.”
Demand for properties
Demand for properties is higher than we thought it would be – both for sales and lettings. Our HMO management company have experienced a significant increase in professional tenants looking for high-quality accommodation.
“For the sales market, this certainly demonstrates a revival of interest. However, according to Rightmove, the rental market’s recovery has been even more significant than sales. Demand in the sector also didn’t dip quite as low as it did for people looking to buy a new property.”
What does this mean for you, as a property investor?
Now really is the best time to take advantage of the property market, with high demand from tenants, house prices having fallen for the last few months and new mortgage products available at great rates.
Now that people are able to conduct viewings and purchase properties again, we’re in a great position. I’ve been speaking with countless investors over the past 2 months about our plan and now that trade is resuming, we’re helping more investors secure new investment properties than ever before.
Complete the form below to arrange a free video call with me, to discuss what opportunities are available to you. I’ll be able to answer any questions you have about the property market, our sourcing process to acquire 10% BMV properties for our investors and see if HMO on Steroids is the right fit for you.