Unless you’ve been living in a bunker for most of 2020 then you won’t have failed to notice that the UK economic outlook looks bleak for the next two years. GDP is likely to drop again in Q4 and unemployment will unfortunately rise further. But there are some areas that those in the know can use to their advantage. We are delighted to have sponsored the Q4 RICS Chartbook – your guide to the economic and property outlook – and our team of experts here at AWH have put together three ways that you can see a great return on investing in a struggling economy. The time is NOW!
- Buy now, don’t pay Stamp Duty later
With the Stamp Duty holiday extended until March 2021, it’s the best time to ditch the extension plans and buy a bigger property. There are some wonderful properties available due to those moving often much further afield due to the prolonged tier system and also the pause on the market that the first lockdown brought. But you’ll have to act fast as it takes on average 100 days to complete a purchase.
The Help to Buy scheme has also been extended and the deadline for the legal completion of the sale is 31st March 2021.
To take full advantage of these extensions, speak to our Valuations team today. We will be discussing the implications of the end of the Stamp Duty holiday in our next blog – watch this space!
2. Time to go green!
There is no better time to invest in sustainable buildings. A net balance of 43% of contributors to the latest RICS Chartbook reported that investor demand had risen for green certified buildings over the last 12 months. Whilst this trend is having an impact on prices, with the Government’s “Green Industrial Revolution” and the COP26 climate summit 2021 kicking off the UK’s path to net zero it’s time to get ahead of the game.
3. Let the weather be extreme, not your costs
In the UK we now experience extreme weather conditions as a result of climate change and we’re seeing these really take their toll on building resilience. In our previous blog, we stated that essential maintenance must still be carried out, so why not make any repairs and retrofit work survive the storms in not only a sustainable and environmentally friendly way, but also one that is cost-effective. Speak to our Property Management team today about how our proactive approach using the very latest technologies in our maintenance strategies keeps costs to a minimum. Contact Elizabeth Adams today – elizabeth.adams@awh.co.uk.
To download the RICS Chartbook in full, please visit: https://awh.co.uk/rics-chartbook/