Platinum Property Partners has released a blog explaining why it’s a great time to invest in an HMO.
According to the property franchise, which supports investors as they build their own portfolio of houses in multiple occupancy, the sector has largely “defied the effect of the coronavirus pandemic”. In the business’s blog post, it explained how the market is remaining buoyant.
At the moment, estate agents can still operate, people can view and buy properties with safety measures in place, and tradespeople and removal companies can still carry out their jobs.
Platinum Property Partners also revealed some statistics showing just how well the market has been operating during the pandemic. UK asking prices rose by over seven percent last year and experts believe they’ll increase by another four percent in 2021. More than 715,000 mortgages were approved between January and November and an estimated 650,000 property transactions going through in the first quarter of 2021.
These factors aren’t the only reasons aspiring investors should make their move. You can save up to £15,000 thanks to the stamp duty holiday scheduled to end in March, and benefit from the low interest rates currently on offer. The blog post explained the financial incentives in more detail, with a table describing the fees due on properties of different values.
As the franchise explains, “the demand for good quality, affordable rental homes is here to stay as we move towards a life post-pandemic”. According to the business, HMOs are a great solution for people who want to combat “feelings of isolation sparked by lockdowns and restrictions” and find “affordable and sociable living accommodation”.
If you’re interested in building a property portfolio under the guidance of an experienced franchise brand, head to Platinum Property Partners’ website to book a spot on a Discovery Webinar.
Alice Tuffery, Point Franchise ©