Spring bargains in the housing market

Rightmove has reported that the average house price, for houses typically bought by first time buyers and property investors, coming to the market in April 2016 has dropped 1.4% from March 2016. Although this represents only a small decline in the asking prices, it does indicate that the market has reacted to the stamp duty change that effects property investors.

From 1st April 2016, property investors and those purchasing a second home must pay a 3% stamp duty levy on the price of the property provided the purchase price is £40,000 or more. This is in addition to any Stamp Duty that would be payable to a first time or next time buyer.

In the first quarter of 2016, the team at Harvey Bowes certainly experienced a rush to get deals completed. We had a very successful run and there is no let up in April. Investors are looking for bargains, perhaps where a vendors perception is that the market will go quiet due to the Stamp Duty changes and is willing to offer a reduction on the property price as a result.

There is opportunity in all markets, including this very buoyant market which we are currently enjoying. If you are buying property and need to move quickly, then call the team at Harvey Bowes today to arrange your property finance on 029 2175 4150

If you are currently investing in property, or are looking to get started, then why not rub shoulders with like minded people and increase your property investing knowledge? There is a network of 51 meetings around the country – the pin or Property Investors Network Meetings where investors get together to associate, learn and share skills. To book onto a meeting, click the link below, find your local meeting and book using the voucher code “BOWES” – this will get you into the meeting as a guest of Harvey Bowes Limited and waive the £20 entrance fee.





About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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