Tag: Hamptons
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Record Number of First-Time Homebuyers Make Their Move in 2024
A report by Hamptons has revealed that a staggering one-third of all homes sold this year have been snapped up by first-time buyers, with this figure rocketing to half in London. This marks a historic moment for the UK, showing an all-time high and signifying a substantial shift in the property market. The data speaks…
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Is Now the Time to Sell? Why the Upcoming Election Could Influence Your Decision
The looming question for many homeowners is whether to sell their property before or after the next general election. New insights from Winkworth, a leading estate agency suggest that selling before the election might be the wiser choice for those looking to maximise their property’s value. Winkworth’s research, powered by Dataloft’s analysis of house price…
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Rent Hike Hits the Brakes but Tenants Still Pinched
The pace at which rents are rising has finally started to slow down, yet tenants across Great Britain are continuing to feel the financial pressure, with significant increases still a reality. This is according to the latest insights from Hamptons. The latest data indicates a slight deceleration in the rate at which rents are increasing.…
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Landlords to Feel the Pinch – New Tax Changes Could Cost You More
UK landlords looking to sell their properties might find themselves forking out more in taxes, despite recent announcements in the Budget that seemed to promise relief. Jeremy Hunt, in his latest Budget speech, unveiled what was initially seen as a boon for landlords – a reduction in the rate of Capital Gains Tax (CGT) for…
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London Rent Prices Set to Stabilise
Foxtons has forecasted a cooling period for the sky-high rents that have burdened many Londoners. The dramatic rent increases that have characterised the past year are expected to take a backseat, with predictions pointing towards a much more stable and affordable rental market. According to Foxtons, the pressure cooker environment of tight supply coupled with…
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Good News for Landlords as Mortgage Rates Hit a New Low
The latest data from Moneyfactscompare.co.uk reveals a dip in fixed rates for both two-year and five-year BTL mortgage terms. For the first time in over a year, landlords are witnessing a significant drop in the rates for fixed buy-to-let mortgages. If we’re talking numbers, the average fixed rates across both two-year and five-year terms are…
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Skyrocketing Demand for Rentals Leaves Tenants in a Lurch
The UK’s private rental market is witnessing a significant rise in demand, with landlords reporting a noticeable increase in tenant interest. This trend underscores a growing challenge in the housing sector, spotlighting the dire need for more rental accommodation amidst rising pressures from various societal shifts. The Surging Demand for Rentals Recent research spearheaded by…
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Buying a Home vs Renting in Today’s Market
According to the latest analysis by Hamptons, opting to buy a property with just a 10% deposit has proven to be £9 cheaper per month than renting, on average. This marks the first time since May of the previous year that an average single renter finds themselves in a less favourable financial position monthly compared…
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Skyrocketing Rents – What’s Next for Landlords in 2024?
In 2023, renters across the UK felt the pinch as average monthly rents soared by a staggering 10.2%. This rise equaled the total increases seen from 2016 to mid-2020, leaving renters with a hefty extra £343 per month. Experts from Hamptons highlight this as an unprecedented surge, with most landlords and tenants experiencing such a…
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Home Sellers Get Six-Figure Profits
Homeowners in England and Wales typically reaped six-figure gains in 2023, when selling their properties, based on analysis by Hamptons. 2023’s home sellers, who had owned their properties for an average of nearly 9 years, enjoyed an average profit of £102,650 over their purchase price. This figure, though slightly lower than 2022’s £112,930 average, marked…