Latest News: What’s Happening in the UK Property Market

Well, it’s been an interesting few weeks for the UK property market with, unsurprisingly, the coronavirus pandemic dominating the sector.

But don’t think it’s all bad news, because it really isn’t. We at Cherry Lets have seen a lot of activity in the North Oxfordshire & South Northants area just recently, with lots of new lettings taking place. There has certainly been a lot of demand and the team at Cherry Lets are being kept busy!

Here’s a handy roundup of the highlights from us that covers what’s been happening in the housing market recently. (If you want to know more about the local market, drop us an email at ask@cherry-lets.co.uk

Escape From the City

It seems as though the shift to home working for many people has also led to a shift in thinking about where folks want to actually live. Latest figures from Rightmove show that agents right across the country have seen a huge increase in people wanting to relocate to villages.

Significantly, Rightmove’s statistics highlight that 54 per cent of Londoners looking to move were thinking about leaving the bright lights of the city behind them. Last year, that figure was 45 per cent.

This could be good news for you if you’re wanting to let out your property, as potential tenants could be eyeing up your neck of the woods. If you’re thinking of letting out your property and want to take advantage of this shift, get in touch, we’ll be happy to help you. You can reach us by telephone on 01869 337346 or email us at ask@cherry-lets.co.uk.

STOP PRESS: Delayed Ending of Eviction Ban

At the eleventh hour, the government has made the decision to delay the ending of the evictions ban until 20th September.

In a move that sees tenants being given greater protection from eviction over the coming winter months, landlords will now be obliged to provide tenants with six months’ notice. Cases raising serious issues such as domestic abuse and anti-social behaviour will be the exception.

The news was announced by Housing Secretary Robert Jenrick MP who said:

“I know this year has been challenging and all of us are still living with the effects of COVID-19. That is why today I am announcing a further 4 week ban on evictions, meaning no renters will have been evicted for 6 months.

“I am also increasing protections for renters – 6 month notice periods must be given to tenants, supporting renters over winter.

“However, it is right that the most egregious cases, for example those involving anti-social behaviour or domestic abuse perpetrators, begin to be heard in court again; and so when courts reopen, landlords will once again be able to progress these priority cases.”

We at Cherry Lets are delighted to bring you regular property market updates. If you are thinking of moving or letting out your property, please get in touch with us on 01869 337346 or ask@cherry-lets.co.uk for home moving advice.