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Manchester has surpassed London as the most sought-after location for buy-to-let investors, with 23% targeting the city compared to 18% focusing on the capital. The shift reflects investor preference for Manchester's 6.6% gross rental yields against London's 5.1%.
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Strutt & Parker has created a new senior position focused on prime residential markets in England's cathedral and university cities, appointing Louise Glanville as its first Head of National Town and City Markets. Glanville joins as a Director after nearly ten years at Knight Frank, where she served as Partner and Head of the Exeter office.
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Landlords have disposed of at least 2,000 student HMO beds across Britain over the past year, responding to the Renters' Rights Act and increased regulatory requirements. Specialist estate agency YieldMe reports handling £170 million worth of HMO sales in the 12-month period.
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The government has published consultation proposals to replace the Lifetime ISA with a new First Time Buyer ISA, removing the retirement savings component and withdrawal penalties. Financial services firms have welcomed the simplification whilst warning that high property prices and deposit requirements remain the primary barriers to homeownership.
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Estate agents may need to reorient their business models towards buyers rather than sellers as market conditions shift, according to industry commentary analysing recent property market data. Recent figures from Zoopla indicate buyer demand has fallen 10% year-on-year in May, while Rightmove reports that buyer choice has reached its highest level since 2015.
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