Share
Since the start of the Coronavirus pandemic, savers have been opting to put their money into easily accessible accounts, leading to a surge in popularity of easy access accounts and research from Paragon Bank has found that these accounts now account for 58% of the total savings market.
According to the research, the average balance in easy access accounts has increased by 10% year-on-year, from £9,995 to £10,989. In addition to this, over the last year the number of accounts with balances under £500 has decreased in 2020, while accounts with balances of more than £500 has increased, suggesting that those who have had extra disposable income since the start of the pandemic have been putting money into easy access accounts.
Tri-State Bank names industry veteran Mike Edwards interim CEO after Darius Davis departure bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
This was followed by the West Midlands, with 48% of landlords reporting an increase in demand.
In contrast, just 10% of landlords in Central London outlined a rise in tenant demand.
Despite a rise in demand, 64% of landlords said they have no plans to change rental prices, 15% said they will increase rents and 9% intend to lower them.
In addition, landlords said they felt more confident about rental yields, their capital gain, the UK private rented sector and their own letting business than they did during the same period in 2019.
Overall, 35% of landlords rated the prospects for their own lettings business as good or very good during Q4 2020, compared to 30% in the previous quarter and 31% during the same period in 2019.
Tenant demand for properties hits five-year high: Paragon
By Roger Baird 3
rd February 2021 10:32 am
Demand from tenants for properties hit a five-year high in the final quarter of last year, according to research from Paragon Bank.
Almost a third of landlords, or 32 per cent, reported increasing levels of tenant demand during the final three months of the year, the highest level since the first quarter of 2016.
The level is up from 29 per cent reported in the previous quarter and 25 per cent recorded in the same period a year ago.
However, the data showed clear regional differences in the proportion of landlords noting higher tenant demand.
Both Conservative and Labour MPs said the tax break should be extended
They said a tapered approach would help avoid a property price bubble
However, Jesse Norman MP, speaking for the Government, could not say whether extending the holiday, due to end on March 31, was being considered
Buyers may have to wait until the Budget on 3 March for any update