Latest News
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Why are Landlords Raising Rents?
Recent data suggests a trend among landlords – they’re closely observing each other. When one landlord hikes up the rent, others in the vicinity might follow suit. This could be termed as a ‘snowball effect’. The DPS’ research provides insight into this trend: 72% of landlords say that aligning rents with the local rental market’s…
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High Interest Rates Dampen Remortgaging Activity
Recent data reveals that homeowners switching to a different mortgage lender, a process known as remortgaging, has dwindled to its lowest numbers since 1999. This slump can be directly linked to the increased costs of borrowing. But what has led to this rise in borrowing costs? Inflation’s Role in Setting Interest Rates Persistently high inflation,…
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Number of UK Mortgage Approvals Falls
In September, British lenders approved only 43,328 mortgages. This might sound like a big number, but it’s the lowest we’ve seen since January. This is an indication of how the property market is reacting to increasing borrowing costs. Interestingly, economists who were polled by Reuters had anticipated that there would be 45,000 loans approved for…
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More Cash Buyers as Downsizing Increases
According to the latest House Price Index by Zoopla, a notable shift in buying patterns has emerged. Remarkably, one in every three homes in 2023 was purchased outright with cash, a significant jump from one in five over the past five years. This change seems to indicate that homeowners are seizing the opportunity provided by…
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Mortgage Rates Predicted to Dip Below 4% in 2024
Recent trends and expert opinions suggest that mortgage rates might decline below the 4% mark by summer 2024. Increasing numbers of homeowners and potential buyers are now fostering optimism about the property market, speculating that we might have crossed the peak of surging mortgage rates. Several brokers have intimated that to appeal to customers amidst…
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Making Your Home Irresistible to Buyers: The Features They’re After
If you’re thinking of selling your home in the UK market, it’s a promising time. With employment rates growing and wage boosts providing a silver lining amid rising inflation, potential homebuyers are showing resilience against the backdrop of soaring mortgage costs. In light of a recent, slight dip in house prices following a sustained growth…
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Could You Buy-to-Let in France?
In recent times, the property landscape in the UK has witnessed changes that might make aspiring landlords ponder alternatives. With interest rates soaring and regulations becoming stringent, there’s a growing interest in looking across the Channel to France. If you’ve ever wondered about the potential of French real estate, the Telegraph had an interesting article…
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Expert Reactions to Zoopla House Price Index
The Zoopla House Price Index, one of the UK’s renowned barometers for housing market health, has recently highlighted some significant shifts. PropertyIndustryEye gathered the opinions of some leading experts. According to Zoopla, a combination of diminished demand and a decrease in buying power has led to a marked slowdown in the growth of house prices…
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Will Building a Shed Office Add Value to my House?
As the working landscape continues to evolve, with more people opting for remote jobs and flexible hours, the demand for personal workspaces at home has seen a significant rise. One popular solution is the garden office or ‘shoffice’. If you’re contemplating investing in one, here’s everything you need to know, from costs and potential added…
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Interest Rates Expected to be Held High Again
A recent survey of financial experts predicts that the Bank of England will maintain the base interest rate at 5.25% – the highest it’s been in 15 years. For context, over the last two years, policymakers at the Bank have increased the interest rate 14 times consecutively. This frequent uptick resulted in substantial mortgage cost…