It has been revealed that house prices last month dropped ever so slightly. March witnessed the slowest pace of decline since June 2010. This is, in the light of the severity of the financial crisis in recent times, good news! A survey revealed that this was assisted due to the fact that there is now a much more positive economic outlook and the fact that more people are returning to the market in order to buy ahead of the expiry of the stamp duty exemption. Furthermore it was revealed that data showed the Royal Institution of Chartered Surveyors’ (RICS) seasonally adjusted house price balance rose to -10 in March. This has therefore increased from -13 in February. It is certainly no surprise to find that house prices have remained strongest in London whilst all other areas of the UK saw house prices edge down. The RICS explained: “It is possible that surveyors, as with financial markets, are now beginning to factor in less economic downside risk going forward.” Also, many experts believe that the unusually warm weather we experienced in March coupled with the exemption for first time buyers from a land transaction tax on any home worth less than £250,000, which expired last month, has helped the property market as both factors are thought to have led to a rise in the number of property viewings and transactions during the month. It has also been revealed that, moving forward, house prices across the UK are likely to remain flat. If you are an existing or prospective landlord in this difficult economic climate it can be difficult to build a portfolio and make actual monetary gains without a clear focus. Some Landlord Tips can perhaps allow you to make the right choices in order to maximum your yields.
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