Latest News
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London’s Property Prices – The Highs and Lows
London’s housing market has seen its fair share of ups and downs over the past year. Yesterday’s report from the ONS has shed light on how the capital’s property prices have fared, revealing a mixed bag of results across different boroughs. On average, house prices in London have taken a dip, declining by nearly 5%…
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ONS Private Rental Prices – January 2024
The ONS published their monthly index of Private Rental Prices for January 2024. Here’s our summary. The beginning of 2024 has seen a significant spike in private rental prices, affecting tenants from England to Scotland, and Wales to Northern Ireland. As of January 2024, the UK has witnessed a substantial 6.2% rise in private rental…
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ONS House Prices – December 2023
The Office for National Statistics (ONS) published their monthly House Price Index for December 2023. Here’s our summary. As we wrapped up 2023, the landscape of the UK housing market showed a blend of highs and lows, with changes varying significantly across different regions. The Big Picture – A General Slowdown The overall trend for…
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Landlords Grow More Optimistic, Eyeing Profit and Sustainability in the Housing Market
Recent findings from the Q4 2023 BVA BDRC Landlord Panel research report illuminate a significant uptrend in landlord optimism. This positive shift spans across various metrics, contrasting sharply with a preceding year of pessimism. Landlords are now more hopeful about capital gains on their investments, the robustness of the private rental sector (PRS), and the…
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Office Rent Trends – What’s Next for 2024?
Savills’ “Global Occupier Markets: Prime Office Costs” analysis reveals that in 2023, the average rent for top-notch office spaces in key global cities ended 1.9% higher than the previous year. However, the overall cost for tenants—factoring in the expense to fit out these spaces—jumped by an average of 2.6% year-on-year. This uptick is largely due…
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UK Housing Market Takes a £27 Billion Hit, But Remains Strong Overall
The UK housing market experienced a decrease in value last year, shedding around £27 billion across the nation. This decline, spurred by rising mortgage costs and increased financial strain on households, marks the first of its kind since 2012. However, despite this setback, the housing market has shown remarkable resilience, maintaining a substantial overall value…
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Bridging Loans Hit Record Highs in 2023
In 2023, the bridging loan sector witnessed growth, with a staggering £831 million in loans transacted. This figure marks the highest annual gross lending total since the inception of Bridging Trends in 2015, highlighting a significant increase in the market’s activity and borrower confidence. The year kicked off on a high note, with the first…
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Mortgage Rate Drop – Biggest Decline in Two Years Offers Hope to Homebuyers
The UK mortgage market has experienced its most significant monthly drop in average two-year fixed mortgage rates since December 2022. This decline could signal a golden opportunity for borrowers to secure more affordable financing options amidst a volatile economic landscape. According to recent data from Moneyfacts, a leading financial information provider, the average two-year fixed…
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Airbnb’s Festive Boom – Sales Set to Surpass Expectations
Airbnb is all set to dazzle with its fourth-quarter financial results, thanks to a robust holiday travel season that has outstripped earlier predictions. As the year drew to a close, Airbnb experienced a surge in travel demand, particularly throughout November and December, setting the stage for the company to outperform its own forecasts. The heart…
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House Prices to Dip with Heaviest Hits Down South
Zoopla, a leading property portal, stands by its forecast of an average 2% dip in house prices across the UK this year. This prediction spells trouble particularly for the high-value areas in the South of England, where homeowners are expected to feel the pinch the most. The culprit? Sky-high mortgage rates that continue to hamstring…