Latest News
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Scottish Prices Fall, First Time Since Covid
House prices in Scotland have started to drop, for the first time since the pandemic, according to the latest RICS report. Key Points Takeaway House prices in Scotland (and the UK) are facing a bit of a dip, influenced by several factors like higher borrowing costs and inflation. However, market dynamics like the balance of…
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Starting Your Own Development Company – Advice from Experience
Felix Cash is an experienced property developer who has built several companies. In Bytestart today he offers advice for people wanting to start their own business. Introduction 2023 has seen a spike in UK rent rates. This means that being in the property business can be profitable. Yet, setting up a successful property portfolio and…
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“How I Made a Million from Cheap Property after 2008 Crash”
If you’re looking for inspiring stories, The Telegraph today features a man who has become a millionaire from buy-to-let property. The Millionaire’s Story Graeme Carling is a successful property investor. While most remember 2008 for its financial crisis, Graeme used it as a chance to buy properties at lower prices. Within two years, he made…
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“Guppies” Give Up On Property
Young people are giving up on the idea of ever owning property in the UK, according to a report in The Telegraph. Who are the ‘Guppies’? ‘Guppies’ is a term referring to people, mainly under 40, who have “Given Up on Property”. This is a contrast to the ‘Yuppies’ (Young Urban Professionals) from the 1980s,…
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Cost of Housing Makes Brits Poorer Than Americans
The Guardian reports figures comparing the cost of housing in the UK with costs in the USA. The Social Market Foundation conducted a study comparing the living standards of UK and US households, focusing on the economic development of both countries over two centuries. Here are the key points: For investors, understanding these economic and…
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Another Bank Cuts Mortgage Rates
Yesterday three lenders reduced their mortgage interest rates, today Halifax has followed suit. The Big Picture: Banks are racing to cut mortgage rates, bringing relief to homeowners who’ve been battling high rates for a while. This is excellent news for prospective homeowners and current mortgage holders. Key Points: Action Steps for Borrowers: In Simple Terms:…
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RICS Say Mortgage Rates Hitting Housing Market
RICS have released their UK Residential Market Survey for July 2023. Buying a home is getting harder because of higher loan (mortgage) rates. Fewer people are looking to buy, and even fewer homes are being sold.
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Rents Rising Sharply – RICS
RICS has released its monthly survey of letting agents, to gauge the state of the Private Rented Sector (PRS). RICS Findings How Do We Know This? Experts’ Take on the Situation Interesting Numbers to Note Why is the Demand So High? How Competitive is the Market? Harriet Scanlan provides a real-world example: Her estate agency…
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More Mortgage Rate Cuts
3 large UK mortgage-lenders have cut their interest rates – Nationwide, HSBC, and TSB. In simple terms: Think of the mortgage market like a big supermarket. Fewer customers have been shopping because the prices (interest rates) are high. So, to attract more customers, some shops (banks) are lowering their prices a bit. But, don’t expect…
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UK Housing Market – Not as Bad as People Say?
Property data company TwentyEA are saying that the decline in house prices “may have been overstated” Main Points CEO’s Thoughts Colin Bradshaw, the head of their parent company TwentyCi, shared some thoughts with Property Industry Eye: In essence, while there are some challenges in the UK property market, it’s showing strength and resilience. The market…