Latest News
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London’s Lettings Market Sees Shifts
The lettings market in London is showing signs of ‘normalisation’ after a period of unpredictability. In February 2024, the capital saw a 20% increase in new lettings listings compared to February 2023. Although this figure dipped by 10% from January 2024, the overall trend for the year to date shows a robust 19% increase in…
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Homeowners Cash In, Majority of 2023 Property Sales End in Profit
The majority of homeowners who decided to sell their properties in 2023 found themselves on the fortunate side of the fence. According to comprehensive data from Zoopla, a leading property portal, an impressive 93% of home sales last year resulted in a profit, with sellers pocketing an average gain of £74,000. Zoopla’s analysis, based on…
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House Horrors – The Six Deal-Breakers Costing Home Sellers Thousands
Not all properties are created equal, and some carry hidden burdens that can heavily impact their value. According to the latest insights from Open Property Group, a leading quick sale specialist, there are six major red flags that could mean you’re in possession of a problem property, potentially slashing your home’s market price by as…
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UK Mortgage Rates on the Rise – Best Options This Week
Securing an affordable mortgage has become a bit more challenging for UK house hunters. As mortgage providers hike their rates, the dream deals of below 4% have all but disappeared, making it crucial for prospective homeowners to stay informed about the latest shifts in the mortgage landscape. The End of Sub-4% Mortgage Deals Mortgage rates,…
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Dream Homes Up North – Scotland Tops Charts for First-Time Buyers
New data has shown that Scotland is the golden ticket for first-time buyers looking to plant their roots without breaking the bank. According to a study from L&C Mortgages, Scotland is the promised land for first-time buyers seeking affordability and beauty in their future homes. The study, which looks at median earnings against average first-time…
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Foundation Home Loans Introduces HMO Options for First-Time Property Investors
‘Buy to Let by Foundation’, the dedicated buy-to-let brand under Foundation Home Loans, has rolled out a new offering aimed specifically at those dipping their toes into the landlord pool for the first time. Recognising a gap in the market, Foundation Home Loans is targeting individuals who’ve yet to manage a buy-to-let property in the…
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Spanish House Prices Defy European Downturn
Spanish house prices have charted their own course through the economic turbulence that has seen much of the eurozone grappling with declining property values. In 2023, while many European countries faced a downturn due to soaring interest rates, Spain reported an average house price growth of 4.2%, showing the resilience and unique dynamics of its…
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Mortgage Rates and House Prices Will Stabilise
The Office for Budget Responsibility (OBR) has provided a more optimistic forecast for UK mortgage rates. For those worried about rising mortgage rates, the OBR has some good news. The peak mortgage interest rate is now forecasted to hit 4.2% in 2027, a decrease from the previously predicted peak. Even more encouraging is that mortgage…
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Uncovering the True Cost of New Build Homes
The debate between opting for a new build home versus a second-hand property remains a hot topic. With a significant chunk of homebuyers leaning towards the allure of brand-new homes, it’s crucial to peel back the layers of this preference to understand what’s driving the market and whether new builds genuinely offer better value for…
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UK Landlords Brace for Impact – Major Tax Changes Announced in 2024 Budget
Jeremy Hunt has unveiled a significant shake-up of property-related taxes in the latest Spring Budget. The overhaul aims to streamline tax rates and remove certain reliefs, promising to stir the pot in the real estate market. Here’s a breakdown of what these changes mean for landlords, investors, and the average UK resident looking for a…