The number of people renting rather than buying is still on the rise, although property price trends in the UK are uncertain with Nationwide and Halifax posting contrasting results. London’s boom has made many investors a lot of money over the years, and it’s a lesson that can now be applied across the rest of the country. Household wealth is being boosted more than ever by investments in property and pensions, while the range of ISAs on offer also provide a tax-efficient way of maximising people’s finances. Here are seven things you might have missed this week…
1. Generation Rent on the rise as less youngsters becoming homeowners
Over the past 10 years, the number of young people in the private rented sector (PRS) has shot up significantly, with the average age of a typical first-time buyer climbing to 33.
2. Urban land value in Manchester rises 20% higher than national average
The north and Scotland are seeing higher than average land value rises as strategic land acquisition becomes more competitive, with house prices climbing at a much slower rate.
3. Then and now: what investors can learn from London’s housing market
If you’d have bought a property in London back in 1998, you might have expected to stump up an average £115,000. Fast-forward 20 years and that same property could have made gains of 319%…
4. Growing the nation’s wealth with property and pensions
The household wealth of the UK ballooned by £1.7trn between 2012/2014 and 2014/2016, with property and pension investments making up the lion’s share…
5. Family buy-to-let mortgage product presents new opportunities
Families seeking to invest in a rental property and let it to their children or close family members at less than market value often find that a buy-to-let mortgage is not an option.
6. UK house price indices from Nationwide and Halifax
7. How an ISA can help you invest in the property market
Individual savings accounts (ISAs) are a great, tax-efficient way of saving money, and they can provide an effective route into property investment – and not just for first-time buyers.