It is extremely important for buy-to-let investors to keep up to date with an ever-changing market. The Knight Knox Quarterly Report compiles market trends, tracks average price rises and provides information on key buy-to-let hotspots.
The final four months of 2019 were a critical time for the UK economy and property market - Brexit negotiations started coming to a head, and there was a landmark general election which saw the conservative party win by an overwhelming majority. In the run up to the election, investors were understandably cautious with all the uncertainty in the market. However, after the Conservative party’s landslide victory was announced, the market saw a surge in activity, suggesting that there was a newly found confidence in the market. According to the Royal Institute of Chartered Surveyors (RICS), the number of buyer instructions had increased by 17% between November andDecember and agreed sales had also edged up by 9% in the same period.
Elsewhere in the market, the housing supply continued to fall short of what was required to keep up with the demand. According to Zoopla, house price growth in inner city areas is at a two-year high, which can be credited to an increase in demand and property sales. According to data from HMRC, property sales in December 2019 were 11% higher than in the same period of 2018. If the data is anything to go by, the property market is set to start the new decade on a high and early data from 2020 already suggests this to be true.
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