The number of properties purchased using a buy-to-let mortgage was 45pc lower in 2020 than in 2015, and the number of homes in the private rented sector has fallen since 2016, according to the latest Zoopla report.
With increasing government regulation squeezing the returns on buy to lets compared with the tax benefits of doing an Airbnb, some agents fear it may result in a shortage of homes for those who need to rent long term - as well as drive up prices.
Jan Hytch
- Credit: Archant
Jan Hytch, chairwoman of the NDAEA, Norwich & District Association of Estate Agents, and a partner at Arnolds Keys agency, said: Tourism plays an important part in the economy of Norfolk and sustains many jobs.as ever, it’s a question of balance.
Gazumping has returned to the housing market
- Credit: Archant
Many people might long for a return to the 1980s – but not house buyers. Decades on from the gazumping trend, it is back. Eleanor Pringle and Angus Williams investigate.
The boxes are packed. The removal firm is booked. The paint swatches are ordered.
And then the worst happens. The phone rings and hopes and dreams of fresh start in a new home are dashed.
Every person buying a house knows the risk of the sale falling through – but apparently gazumping is increasingly at the root of the problem.
Homes under construction for the past four years
Gazumping has returned to the housing market
- Credit: Archant
Many people might long for a return to the 1980s – but not house buyers. Decades on from the gazumping trend, it is back. Eleanor Pringle and Angus Williams investigate.
The boxes are packed. The removal firm is booked. The paint swatches are ordered.
And then the worst happens. The phone rings and hopes and dreams of fresh start in a new home are dashed.
Every person buying a house knows the risk of the sale falling through – but apparently gazumping is increasingly at the root of the problem.
Homes under construction for the past four years
Published:
11:29 AM April 6, 2021
Updated:
11:54 AM April 6, 2021
Traditionally, the arrival of spring makes buyers and sellers think about getting on to the property market
- Credit: Getty Images/iStockphoto
The arrival of spring and, with it, warmer weather and budding gardens, makes both buyers and sellers think about getting into the property market.
But as in so many respects, this year is unusual, as last year s buoyancy has remained sustained throughout winter.
“There is huge demand for homes in Norfolk, and quite simply, not enough supply to meet that demand,” says Mrs Hÿtch, residential partner at Arnolds Keys and chairwoman of the Norwich and District Association of Estate Agents (NDAEA).