Tag: Downsizing
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The 2024 Australian Housing Market, Insights for Potential Investors
The Australian housing market in 2023 was marked by unprecedented dynamics, often described as “record-breaking.” As we approach 2024, it’s crucial for investors and potential homeowners to understand the expected changes and trends in the property landscape. Yahoo Finance published a guide based on Domain’s research and expert opinions, particularly from Dr. Nicola Powell, Domain’s…
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Downsizing Trend in UK Rental Market
The UK’s rental market is undergoing significant changes, with a noticeable trend toward downsizing, particularly among families. Recent data from a BBC report indicates a growing trend among UK families: renting smaller homes than they did just three years ago. This shift is largely attributed to the steep rise in rental prices coupled with limited…
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Capitalising on the New Permitted Development Rights
Property development could see a shift with the introduction of new planning laws announced by Chancellor Jeremy Hunt in his Autumn Statement. This shift opens a lucrative avenue for landlords and developers, presenting an opportunity to significantly enhance their income through property conversions. Understanding the New Permitted Development Right (PDR) PDR is a government initiative…
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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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A Stamp Duty Cut Could Boost Property Market
Rightmove, the property portal, has provided data indicating that if the Chancellor were to eliminate the property tax on the first £500,000 of a purchase in his Autumn Statement, a significant portion of the property listings in England would be affected. This potential change could result in 72% of properties in England being exempt from…
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House Prices Fell 4.1% in October – Acadata
In October, the average house price in England and Wales saw a notable decrease of 4.1%, dropping by approximately £15,700 to £362,777. This decline, as reported by the e.surv Acadata house price index, is the most substantial monthly reduction since August 2009, a period marked by recovery from the 2007/2010 banking crisis. Contextualising the Decline…
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Demand for Bridging Loans Remains High
Bridging loans have become a pivotal financial tool in the UK’s dynamic property market. These loans offer a swift, flexible solution for those needing immediate funds for property purchases or refurbishments. Understanding Bridging Finance One of the key attractions of bridging loans is their rapid processing time. Unlike conventional mortgages, which can take weeks or…
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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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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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Shifting Trends Favour Build To Rent
Yorkshire property expert and partner at Zenko Living, Jonathan Morgan, told the Yorkshire Post about a profound shift towards long-term renting and how the public’s perception of housing is evolving. The Housing Act of 1988 and the Dawn of “Buy to Let” The Housing Act introduced in 1988 was somewhat of a game-changer for UK…