The new year is always a time for optimism and, at Leaders, we think there are more reasons to be positive about the property market than ever before this January.
Indeed, in both the sales and lettings sectors, we believe 2015 is set to be a great year for a variety of reasons.
January is always an incredibly busy month, and this January has been no different as sellers begin to put properties on the market in order to make a fresh start elsewhere and tenants and buyers clamour for a new home of their own.
Some observers have suggested the general election in May will trigger a temporary halt to growth in the property market, and this could be true to an extent. However, there are many more factors in favour of 2015 being a year of tremendous growth.
For instance, chancellor George Osborne’s recent changes to stamp duty levels have been widely welcomed, as they make properties at a number of different price points more affordable than before.
Where a property sold for £275,000 would previously have incurred a stamp duty charge of three per cent (£8,250), the levy would now stand at just £3,750.
This is good news for buyers who are looking for a home, as well as buy-to-let investors who can make a return on their investment much quicker than before. This could make being a landlord – or expanding your portfolio – an even more attractive option in 2015.
We also expect the lettings market to be even more buoyant this year than it was in 2014, which in itself was a remarkably successful period.
Tenant demand is showing no signs of slowing any time soon, meaning landlords can invest in properties with the confidence that they will be able to enjoy a good return and avoid any significant voids.
In particular, small family houses and one-bedroom flats are proving to be incredibly popular in many parts of the country.
There continue to be many great reasons to rent – from the ability to choose from a vast pool of properties to the freedom being a tenant brings, allowing individuals to move for work reasons or to enter school catchment areas if required.
As a landlord, you will continue to benefit from this in 2015 and beyond, and we are ideally placed to help you make the most of your property.
Contact your local branch for more information on investing in buy-to-let, or achieving more from a property this year.