Time to Invest in Buy-To-Let
London is going to become a ‘city of renters’ by the year 2025 because of the house prices that will make buying property in the capital unaffordable for more than 60% of inhabitants, according to PriceWaterhouseCooper’s study. This is explained by the fact, that young people aged between 20 and 40 are being priced out of the buying market and have nothing to do but become renters. This means that soon there will be less houses for sale, but should you wish to buy-to-let you would not have any difficulties in finding tenants.
Buying property in London – is it worth it?
In the year 2018, the London buying market still seems very attractive for both Brits, and foreigners. If your intention is to buy property in London in the near future, visit readyproperty.co.uk/buy for a comprehensive assistance. A team of estate experts at Ready Property provides a broad range of professional services in the complex property market of London and beyond. We scrupulously monitor all market trends and changes in the industry and update our extensive property database on a daily basis. One of the current trends is that the luxury-end of the market with homes over £1 million has experienced a slow-down in the last years with changes to Stamp Duty in 2016. Another trend is that the British government is now making efforts towards creating more affordable homes in the capital by funding construction programmes in the re-developed areas. Some of these homes are available for sale right now, as well as some new luxury developments. For example, the Central London landscape changing DAMAC Tower with its 360 brand new homes of ultimate luxury are now available on the London estate market. The ultra-modern 50-storey DAMAC Tower is likely to become a new icon on the London City skyline ensured by the high-end Versace Home Interior by London design. Its unique and balanced, fresh and distinctive architecture creates an inspiration in luxury living, inside and out, and impressive views from every aspect of the building. SALE has already started! If you are willing to buy a property in the fantastic DAMAC Tower, please call our agents at Ready Property.
UK property prices continue to cool down
According to estate experts, that London prices falling in the end of summer and autumn 2018 is beneficial for buyers as property prices are falling fast, the fastest in the last decade. UK’s Office for National Statistics data show the average value of properties in London stood at near £484,000 in August this year, down 0.74% on a year previously, a drop of £2,500 in real terms. Nevertheless, house prices in the capital are still high and as per the end of September 2018, there are no homes for sale in London with five-digit price. Excluding shared ownership and auction properties, houseboats and retirement homes, the cheapest property on the market today in the UK capital is a studio flat, which is asking for offers some £100,000. The situation is connected with the stamp duty on properties with a purchase price more than £125,000. This novelty hit London properties harder than other UK areas, as house prices in the capital are significantly higher that across the rest of the country.