Hope to first time home buyers

Hope to first time home buyers.

UK – There is further evidence that the crackdown on buy-to-let investors has had the desired effect, thus giving hope to first-time buyers, has come from two surveys.

On one of the UK’s biggest property websites it was said that a less active buy-to-let market had led properties with two bedrooms or fewer to drop 0.1% in price last month. Subdued prices provide first-time buyers with an opportunity this autumn.

First-time buyers are now paying an average of £190,000 for their home, compared with £307,000 across the whole market, it said.

Meanwhile, the upmarket estate agents Hampton International produced figures showing that money spent on buy-to-let purchases across the UK is currently 30% below what it was in 2015.

The 3% stamp duty surcharge faced by purchasers of second homes, and changes to the way buy-to-let income is taxed, appear to have reduced the appeal of the sector, which expanded rapidly after 2008.

Whether you want to sell your residential property or buy a new real estate investment, a house or an apartment, Property Angels is here to help you find your next investment home.

Property Angels – Attorney Realtor Partner

At the height of the buy-to-let boom, those first-time buyers who were able to get a 10% deposit together frequently found themselves outbid by buy-to-let landlords.

In London, landlords spent £3.5bn in the first half of this year buying rental homes, said Hamptons, 40% down on the same period of 2015.

Mortgage approvals for new buy-to-let purchases are 14% down on a year ago and 53% down on three years ago as a more punitive tax regime has had its desired effect.

While asking prices traditionally rise in October, it said this year’s 1% increase in average asking prices across the country is the lowest since 2010. Landlords are clearly buying far fewer properties and that leaves a gap in the market for first-time buyers.

The fall in prices gives an opportunity for those stamp duty-free first-time buyers to negotiate harder.


Markets in London and the north-east are currently the most sluggish, as both areas are taking in excess of 70 days to sell.

Scotland remains the perkiest market, with properties shifting after an average of 44 days. Last week, the Royal Institution of Chartered Surveyors said Brexit uncertainty had crushed confidence in the property market.

Overall prices are 1% down in the capital compared with a year ago, but still stand at £625,000 or £1.35m in central London. The north-east remains the UK’s cheapest region with an average asking price of £150,000.

The average price of a property bought as a buy-to-let had fallen by 7% since 2016.

Author – Miles Brignall

Source – The Guardian

Did you know? Your Property Angel offers you an all inclusive service whereby you will receive legal advice, sales and purchase solutions as well as the entire transfer process.

Get your real estate selling or buying process going on the right track today. Your Property Angel will then call you back either the same day or the next business day.

Simply complete the basic online form so that your Property Angel can call you for a brief chat.

Your Property Angel will highlight all the benefits and then you will fully understand why Property Angels is the smartest way for you to sell or buy your next residential property.

Property Angels is an online property portal that promotes residential property for sale across South Africa. You can buy, sell, list and find South African properties online. Find houses for sale in Johannesburg, Cape Town and Durban which are the three biggest cities in South Africa.

At Property Angels we will help you sell or buy your next house or home so that you can move on quickly and affordably.

Traditional Estate Agents do offer good service but you want so much more when it comes to selling or buying your next home.

Some of the top property companies online in South Africa include Private Property, Property 24, My Property, Property Fox, PropertyCoZa, Remax, Pam Golding, LeadHome, SA Hometraders, Gumtree and Property Angels.

Whilst most online property brands offer online visibility for Estate Agents South Africa, Property Angels offers online visibility for Attorney Realtor Agents South Africa.

Whether you have a property for sale or you are seeking a house to buy in the southern suburbs, Northern Suburbs, Eastern suburbs or Western suburbs, choose Property Angels as your attorney realtor property website in South Africa. Sell your property online through Property Angels.

Your dedicated Attorney Realtor will call you back today or the next business day.

Whether South Africa is in a buyer’s market or in a seller’s market, contact Property Angels today for quick and efficient online and face to face service.

List your house for sale with Property Angels. You can also find property to view, property selling tips and many other useful property and finance blog articles and property products bespoke to your needs. Buy and sell your private residential property through Property Angels. Allow Property Angels to become your chosen property website portal for your choice of homes to sell and homes to buy.