Latest News
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US House Prices Could Rebound in 2024
The US housing market, like its UK counterpart, has experienced a significant downturn, attributed mainly to rising interest rates. However, there’s a glimmer of hope on the horizon, with expectations of a recovery in the latter half of 2024. A Market in Malaise The US housing market has been in a state of decline, much…
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2023 House Price Hotspots Defying the Downturn
The UK housing market in 2023 presents a complex picture, with a general downturn in prices but notable exceptions in certain areas. The past year has seen a significant decrease in average house values, a trend expected to continue into 2024. This dip in prices is primarily due to soaring mortgage costs, impacting both homeowners…
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Property Experts’ Opinions on Latest Zoopla Figures
Recent research from Zoopla has highlighted that residential property buyers are in the strongest position they’ve been in for five years. On average, buyers are successfully negotiating around £18,000 off the listed asking prices. This shift is attributed to the current weakness in the housing market, providing a unique opportunity for buyers to leverage their…
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Zoopla – UK Property Market Swings in Favor of Buyers
According to the latest research from Zoopla, the UK housing market is now distinctly favouring buyers, with average property prices experiencing notable reductions. Recent data indicates that homebuyers are in the most advantageous position seen in the last five years. The average reduction on property asking prices has reached a remarkable £18,000, showcasing a clear…
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Rents Increase 36% More Than Inflation
Recent data from The Deposit Protection Service (The DPS) reveals a sharp increase in average monthly rents. As of Q3 2023, the average rent in the UK reached £1,121.46. This figure represents a 9.13% rise, equivalent to an additional £93.79, compared to the same period in 2022. Comparison with Inflation Rates Inflation, a measure of…
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Property Investment – 7 Strategies for Smart Buyers
The Telegraph’s Jo Eccles, a well-known figure in London’s luxury residential market, breaks down some of her best property-buying strategies into easily digestible steps. Here’s our summary Understanding the Current Market Landscape Before digging into tactics, it’s crucial to grasp the current state of the property market. Reports and indices might present conflicting views –…
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Gove is Confident Leasehold Reforms Will Pass
The upcoming leasehold reforms in England and Wales are a significant development. The proposed bill, set to be introduced in Parliament, aims to transform the current leasehold system in England and Wales. Housing Secretary Michael Gove has expressed confidence that this bill will be passed before the next general election, expected in 2024. The main…
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Hodge Adapts Lending Criteria for High-Rise Properties
Hodge Bank has recently announced significant changes to its lending criteria, marking a shift in its approach towards high-rise residential properties. This development is particularly impactful for those looking to invest in urban property, especially in major cities like London, Manchester, and Birmingham. The Removal of Height Restrictions Previously, Hodge had restrictions on lending for…
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Edinburgh’s Rental Yield Hotspots
Edinburgh is an attractive destination for renters, including young professionals, students, and families. Understanding the nuances of this market is crucial for anyone looking to invest in property there. Top-Performing Postcodes for Rental Yields EH3: The New Town Gem EH12: The Western Wonder EH4: Coastal and Green Spaces The Current Rental Climate in Edinburgh Nicky…
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Bank of England’s Tough Stance on Interest Rates
The Bank of England has set a clear tone for the future of interest rates in the UK. Governor Andrew Bailey’s recent statements indicate that high interest rates, currently at 5.25%, are likely to persist until at least 2025. This projection comes despite Chancellor Rishi Sunak achieving his goal of halving inflation, which now stands…