Our Hull Property Review 2016
Despite high yields and some excellent buy-to-let products available on the market it’s actually been a testing year for landlords and letting agents alike.
With several legislation and taxation changes implemented, or soon to be, the government appears to be clamping down on the buy to let industry. It’s definitely worth keeping an eye on what future changes the government will bring to investors, as no-one truly knows what’s round the corner!
Despite the negativity, we’ve still seen a huge demand for rental properties throughout the year (including two record months for Lime and a very busy December!). We’re actually predicting this demand to increase further throughout 2017.
Local Market Statistics
Sales wise, 2016 has been another great year. Due to interest rates being so low, the banks are offering some amazing fixed rate mortgage deals for longer periods of time. It really is a brilliant time to buy a house in Hull and East Yorkshire.
Moving into 2017, there a still many first time buyers and home movers looking to buy ASAP which will offer great opportunities to sellers and investors alike. If you’re a tenant or a landlord, drop us a line here to get some free impartial advice.