The Victorian expression ‘as safe as houses’ historically meant ‘secure; with no risk of failure.’ It has been speculated that the expression referred to the relative security of investing in housing as compared to risky railway shares in the 19thcentury. Although it is unknown if this is the true orientation, for as sure as night follows day, the housing market has weathered the economic storms during our lifetimes.
When Scott Littlefair, now Managing Director at Littlefairs Property Company, first started in the lettings industry back in the 2003, buy-to-let was one of Britain’s best-loved investments even during the down days of the credit crunch.
Despite a challenging time for the market, characterised by tax and regulatory changes, not to mention Covid-19, investment in buy-to-let continues to outperform most major asset classes, as demand from private renters grows. This has been further helped by slashed stamp duty, better mortgage deals and new tax benefits.
Scott comments, “we are receiving weekly enquiries from either new landlords or existing landlords looking to expand their property portfolios. There is a cautious optimism that now is a good time to buy with the stamp duty savings. Not only do we offer a fully managed service but we are well positioned in the York market to assist investors with potential property investment opportunities.” He continues, “We have recently brokered a £1 million investment deal which will offer the investor a 5% return on their investment. This is just one of many such deals we have done this year. If you are in a position to invest into the property market, now is a good time.”
It seems this is the view across the industry with savers receiving poor returns from banks and building societies, thousands of people, nationwide, continue to turn to residential property as a means of supplementing their income.
Alan Thomas, UK CEO at Simply Business, said: “The coronavirus outbreak and consequent lockdowns have been transformational in UK renters’ attitudes towards property, and therefore where landlords are looking to make their next investment.”
Indeed, property remains the best place to invest money amid the uncertainty. It was written in a Property Eye article on 6thNovember 2020 thatAuction House London, which sold almost £21m worth of properties under the hammer last week, reported that property remains a popular investment choice.
Conversely should you be in a position where you are looking to offload your rental property(ies), Littlefairs Property Company genuinely have clients who are looking to buy rental properties, with sitting tenants, and have access to funds to complete on sales before the end of the tax year. Scott comments, “we have a great deal of experience when dealing with transactions of this type and offer a very competitive rate to orchestrate such a deal. Should any Landlord be in this position I would be very happy to talk through their circumstances free of charge.”
Please feel free to contact Scott on either 01904 393989 or by email scott@littlefairspropertycompany.co.uk
Written 16th November 2020