Tag: Foxtons
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London’s Rental Market Sees More Choices for Renters
As we wrapped up December, there was a 24% drop in the number of people looking to rent, which is quite typical for that time of year. This wasn’t just a one-off – throughout 2023, there was a 12% dip in rental demand compared to 2022. The real change started in July, marking a return…
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Basement Construction Boosts London Home Values
According to a revealing analysis by Foxtons, adding a basement to your London home could skyrocket its value by an astounding 54%. This increase is calculated based on the new living space created, turning previously unused square footage into a lucrative investment. Costs vs. Rewards Let’s break down the numbers. With the average price of…
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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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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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Thriving in the Property Sector: Belvoir’s Strategic Success Story
In the dynamic world of property investment and estate agency operations, the market often presents a mixed bag of opportunities and challenges. Amidst this, Belvoir has emerged as a standout franchise business, successfully navigating the market’s ebbs and flows. Investors Chronicle outlined the key aspects of Belvoir’s strategy, offering insights for potential investors and industry…
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UK Housing Market: Experts See A Glimmer of Hope?
The UK housing market, after months of downturn, is showing signs of a tentative recovery. Data from Halifax indicates an increase in residential property prices in October, the first rise witnessed in half a year. However, amidst this hopeful news, experts predict a potential decline in values over the coming year. A Surprising Uptick in…
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London Property Sales Fall by 23% – Foxtons
Foxtons reported a 23% decrease in London’s overall residential property sales in the third quarter of 2023. This decline might raise eyebrows, especially for potential investors. However, it’s worth noting that Foxtons’ own performance during this period showed resilience and was slightly better than the general market trend. Foxtons’ Financial Performance: A Closer Look Revenue…
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London’s Rental Market: More Properties, Steady Prices
Estate agents Foxtons highlight a significant 10% year-on-year growth in new rental listings in London as of September. This uptick in supply signals the market’s recovery trajectory, breathing new life into the city’s diverse neighbourhoods. However, the market has not fully rebounded to the level of pre-pandemic years. The current supply hasn’t yet reached the…
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London Buyers are Still Buying, at the Right Price
Despite the overarching perception that the market is in a lull, some of London’s premier estate agencies have observed a significant uptick in demand. Among them, Chestertons reports a 5% increase in properties sold in August compared to July. This isn’t a fleeting trend either. The number of new registered buyers suggests that many are…
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A Rising Tide: The London Rental Surge
According to renowned estate agency, Foxtons, there has been a notable uptick in the London rental scene. Last month, tenants witnessed an 11% hike in average weekly rents compared to the same period in 2022. This elevation in rental prices has been consistent for three consecutive months, with minor fluctuations since June. Such trends might…