What will house prices do this year? Do we sit and wait patiently for the much-predicted house price crash in the next few months, or will the UK property market bounce back following the stamp duty holiday announcement?
If, like me, you are confused by the latest figures released by Rightmove, which show a 2.4 per cent house price surge compared to March in the month leading up to 8th July 2020. This number comes in only a few weeks after other house price data was showing a steady decline, with the first annual house prices fall (of 0.1 per cent) since 2012. Buyers and sellers alike are struggling to get their heads around these fluctuations understandably!
It would seem that the government’s stamp duty holiday plan is paying off, at least in the short term: the cancellation of all stamp duty payments on properties up to £500,000 has inevitably resulted in a spike of buyer interest – and in sellers being able to raise asking prices, bringing up the average property price in the UK to £320,265.
To find out more about the effect this is all having on Nuneaton house prices whether you are buying or selling, please feel free to drop us an email at firstname.lastname@example.org.
Are you a “NO DSS” Nuneaton landlord? It has long been a fear for many landlords that if they rent their property to a family in receipt of, what is now, universal credits then they are at higher risk of having problems with rent arrears. Not necessarily because of the individuals themselves but rather the system itself.
Propertymark have said “The design of the system with payments made in arrears makes paying rent on time impossible for many tenants and this presents issues for landlords who are relying on the rent to make mortgage payments.”
A Negotiator article recently reported that “at York County Court a judge found that the practice of turning away applicants because they are receipt of benefits unfairly discriminated against a single mum-of-two with a disability, on the grounds of sex and disability under the Equality Act.”
People should not be discriminated against because of their circumstances, I absolutely agree. I am also inclined to agree that the system MUST change to support & reassure landlords that renting their property to someone in receipt of Universal Credit is no higher risk than renting to a person in full time employment.
“NO DSS” will be “stamped out” says Shelter and no doubt hefty fines are headed in your direction if you do not adhere to it!