Goodbye 2020 Hello 2021
2020 was an eventful year to say the least with the world almost coming to a halt, sending ripples through both the global economic markets and the yachting industry alike. The good news is, with a vaccine on the horizon and markets preparing to pick up where they left off, we're very optimistic about 2021!
The property market started off with a bang at the beginning of 2020. Then, to help curb the spread of COVID-19, Prime Minister Boris Johnson announced a national lockdown in March. The property market remained closed for two months.
When it re-opened in May, the Government announced a temporary stamp duty holiday to speed up property sales, causing a boom towards the end of the year. The UK market has since seen the busiest December in over a decade!
UK property in 2020 has still remained one of the most popular investment choices, making it a more long-term and stable investment over stocks and shares and more volatile assets. Manchester and Leeds in the North of the UK have seen the highest average price growth of 5.7% and 5.6% and this is estimated to continue to grow into 2021.
If one of your 2021 aspirations is to get involved in UK property investment, whether it be for the first purchase or adding to your portfolio, get in touch with the team to see how we might be able to help you.