Taylor & Co Property in Abergavenny

Consumer confidence has risen to its highest level since the country entered lockdown over a year ago, the economy is forecast to rebound more quickly than initially projected. Our housing report will give you invaluable insight into the local market. Nationally, activity levels in the RESIDENTIAL SALES MARKET are remaining robust. Sales volumes in the first three months of 2021 were 31% higher than the final quarter of 2020, and over 50% higher than the first quarter of 2021. In the LETTINGS MARKET, average rents across the UK rose by 2.9% in the year to April, on par with the projections of 3% price growth in 2021. As in the sales market, interest in rental property outside of cities has surged.  Read the market analysis in full here.

 

The Welsh Government have announced that they are looking to impose greater regulations on second home and holiday let owners in Wales in a bid to prevent local buyers being priced out of the market by increasing property prices, fuelled by low levels of properties coming to the market and continuing strong buyer demand.  Buyers of second homes in Wales already pay more Land Transaction Tax than primary residence seekers and last year, local authorities were given the power to charge 100% council tax increase on second homes. Julie James, the Minister for Climate Change in Wales said "The urgency and gravity of this situation calls for further intervention, which means real and ambitious actions are delivered at pace, to inject fairness back into the housing system”.  If you'd like help understanding the local property market, get in touch with us soon so we can provide advice on your property journey.
The NAEA Propertymark are reporting that the Welsh Government have announced a new Tenancy Hardship Grant. The Grant launch, which coincides with the end of the ban on evictions in Wales on 30 June, will be available to anyone who has built up more than eight weeks’ arrears since March 2020. Read the article in full here and if you require further advice, get in touch with our experienced team for further information.
 

We all have some one to THANK YOU to this year and the Taylor & Co team would like to say a massive thank you to our NHS and the incredible volunteer community in Abergavenny.  Find out more here.

Price growth across the UK is at its strongest level in over 13 years as the roadmap to ‘normality’ continues. A year ago the housing market was closed for business and few would have predicted then the current state of play. Mortgage lending and property sales hit record highs in March, as too the average price of a newly marketed property. That record was broken again in April, read more about the key trends in the national and regional housing market here >> Summer Report. Get in touch if you'd like to know more about how the market is affecting you, advice on the home moving process and how we can assist you with your property journey.

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