Tag: Benham and Reeves
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Scotland and Northern Ireland Lead the Way in 2023’s Housing Market
Scotland and Northern Ireland have been crowned the year’s house price winners, outperforming their neighbors, England and Wales. Benham and Reeves, a London lettings and estate agency, conducted an in-depth analysis of house price growth across the UK. Their findings highlight Scotland’s impressive performance, with an average increase in house prices of 3.6%. This growth…
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Key Strategies for Selling Your Home
Key points – The UK housing market is experiencing a notable shift, with London and nationwide prices seeing the most significant slowdown since 2009. This change, coupled with a decrease in property sales, is causing uncertainty among potential sellers. However, understanding the market dynamics and employing effective strategies can lead to successful home sales. The…
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Property Experts Comment on Autumn Statement
Chancellor Jeremy Hunt presented over 100 measures in his full Autumn Statement, but only a few specifically targeted the housing sector. PropertyIndustryEye canvassed the opinions of several property experts. Enhancements to Local Housing Allowance The Local Housing Allowance rate, which assists private renters on low incomes in paying their rent, is set to increase to…
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London Rents Becoming More Affordable
Benham and Reeves, a London lettings and estate agency, conducted an analysis using Office for National Statistics data. This research aimed to explore changes in rental affordability across England’s regions between 2017 and 2022, focusing on the relationship between rents and incomes. Key Findings: Areas of Concern: While the overall trend is positive, certain regions…
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How Short Term Lets Could Change the London Rental Market
Recent studies by housing data specialist Propalt reveal a substantial shift from long-term rentals to short-term, Airbnb-style lettings. Analysis of over 2,800 short-term lets in London over the past three years showed that more than a fifth of these properties were previously available for long-term tenancy. Propalt predicts that as tenancies expire, these properties are…
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Renters Reform Bill Will Stop Benefits Bans
One of the primary new amendments in the Renters Reform Bill is the prohibition of discriminatory letting practices. Landlords and letting agents will no longer be allowed to reject potential renters solely based on their family status, such as having children, or their financial situation, like being on benefits. This move aims to create a…
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Surge in Northern Buy-to-Let Investments
There has been a significant rise in the acquisition of second homes in the North of England, according to Benham and Reeves. This trend is particularly marked in the North East and North West, outpacing the rest of the country. What is driving this phenomenon, and what does it mean for potential investors? The Northern…
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BTL Latest Yields vs Costs
For many considering venturing into the property market, the buy-to-let option is a popular choice. But how profitable is it in today’s economic environment? Let’s break down some fresh insights from Benham and Reeves, a leading lettings agency, and see if buy-to-let is indeed worth your investment. Gross Rental Yields: A Positive Outlook Initially, things…
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London Leads in Luxury: 1 in 5 Homes Sold for £1M+
Data from Benham and Reeves, a prominent London lettings and estate agent, shows that about one in every five homes in London has been sold for £1 million or more this year. This trend underscores the capital’s unyielding allure among the affluent, marking it as a hotspot for high-value property deals. Diving into the digits,…
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How to Sell Your House Fast
The UK property market has faced a series of challenges recently, influenced by factors like last year’s mini-Budget, unpredictable inflation, and the Bank of England’s interest rate hikes. These changes have led to increased mortgage rates and a cooling of property prices, following an extended period of significant growth. Karen Noye, a mortgage expert at…