A bid by a landlord to get the Government to reinstate tax relief allowing mortgage interest to be set against rental income has been shot down after the petition reached 28,000 signatures.
The demand for rental property is still outpacing supply and rent growth is still rising – so the sector starts 2023 very much like it ended 2022, one property expert says.
Increased mortgage rates have hit housing affordability in the UK, according to new figures from lender Nationwide, with first time buyers now facing levels last seen in the run up to the financial crisis.
The average price of a home jumped by £3,301 this month, at the same time as Rightmove saw double the amount of inquiries from prospective buyers.
It may not stave-off recession, according to inflation data expert.
Are prices in England & Wales still rising?
Energy efficiency will become key considerations for buyers next year while those with cash will be preferred purchasers, Jackson-Stops has predicted.
Buy-to-let lenders need to ready themselves for a “prolonged period of stress” when it comes to assessing mortgage applications, the Bank of England has warned.
- Why Being a Landlord Might Still be Better Than a Pension
- 70,000 BTL Landlords Exited the Private Rental Sector Last Year
- The Most Searched for Locations Of 2022
- How Prices Have Risen by up to 20% Since Pandemic
- The UK’s House Prices Continue to Fall
- Housing Market Fueled by 20% Drop in Building Work as UK
- What Will Happen to House Prices and Mortgages in 2023?
- Landlords Swoop On Housing Downturn To Snap Up Bargain Properties