Yesterday the Secretary of State for Communities and Local Government set out a 29 point plan in its Housing White Paper. The Secretary of State for Communities has reaffirmed that he will introduce the ban on Letting Agents' fees but says he will "go further" to introduce longer Tenancies and to bring in more institutional investment in rental housing. We have selected some key points that we feel may affect our Investors, Landlords and Tenants.
We are working with a local contractor to provide your Tenants with FREE 'room in a roof' insulation.
A cash injection of 556m pounds for the government's Northern Powerhouse project has been approved by politicians and business leaders. The money will fund a variety of projects including the innovation of businesses in Northern cities, the implementing of flood defences across Yorkshire and the regeneration of Hull City Centre.
A recent study has indicated that the financial benefits of renting may be greater than initially predicted, outweighing the benefits of owning a property.
Leeds City Centre will be transformed over the next few years as plans are set to introduce an array of new skyscrapers.
Recent changes in the rental market has meant that Landlords have been considering the North for their next buy-to-let property investment. Measures including the introduction of the 3% stamp duty surcharge, new Right to Rent checks, the exclusion of the 10% 'wear and tear' tax and the rising number of licensing schemes have made life increasingly difficult for Landlords to invest in the South.
Increasing numbers of buy-to-let Landlords are looking to boost their rental profits by converting their properties into Houses in Multiple Occupation or HMOs. With Northern HMOs outperforming buy-to-let properties it is no wonder that Landlords are opting to convert their properties.
Landlords are always seeking new buy-to-let opportunities and new studies have demonstrated that the Northern cities host the most lucrative investment prospects, with lower purchasing costs in the North and high rental yields of between 6% and 12%.
If you own a property and are considering renting it to others, you can now take advantage of our free instant online valuation tool.
Read on to find out what is expected for the property market in 2017 as well as a look back at 2016.