Tag: Knight Frank
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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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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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Is This an Ideal Time to Buy a House?
According to the latest analysis from the Office for Budget Responsibility (OBR), a pivotal moment is approaching for those considering investing in property. The OBR, the Government’s independent economic forecaster, has made a significant prediction for the housing market. They anticipate that the best time for house buyers to make their move will be in…
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More Rate Cuts from Major Lenders
First Direct has taken a bold step, reducing its mortgage rates by up to 0.40 percentage points. This change, effective from Tuesday, marks their most substantial rate drop since February this year. Additionally, they have introduced two new mortgage products for those with a 5% deposit. Their standout offer is a five-year fixed-rate deal at…
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Leasehold Reforms Could Boost UK Property Prices
The UK government’s plans to reform leasehold agreements are poised to bring significant changes to the property market. Before delving into the impact of the reforms, it’s important to understand the concept of ‘marriage value’. This term refers to the increase in a property’s value that occurs when a lease is extended. Currently, if a…
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Edinburgh’s Commercial Property Market: A Magnet for Wealthy Investors
In recent times, the Edinburgh property market has witnessed a significant shift. The rise in interest rates, a change initiated in December 2021, has taken the base rate from a mere 0.1% to a substantial 5.25%. This increase has had a pronounced impact on various sectors, especially on homeowners and businesses seeking financial expansion. The…
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House Sellers Offering More Non-Cash Incentives
According to a survey by Knight Frank, nearly two-thirds of UK housebuilders are now offering non-cash incentives to attract buyers. This shift in strategy highlights the creative approaches being adopted in response to the difficult market conditions. About 59% of the respondents reported offering items like carpets or white goods to sweeten the deal for…
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Knight Frank’s Housing Market Outlook
Knight Frank, a prominent estate agency, recently shared insights that paint a complex picture of the current state of the UK housing market. Their analysis indicates an improving lending outlook for the housing market. However, they caution that there are still significant psychological milestones to navigate. This year, the usual autumn boost in property activity…
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Global Luxury Property Prices Rise
Recent data from Knight Frank reveals that the average annual price growth in prime global city markets has seen a slight uptick, registering at 2.1% in Q3 2023. This figure marks a significant rebound from the 0.2% low experienced in the first quarter of the year. This increase suggests that the global housing markets, including…
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Big Six Banks’ Mortgage Rates Now Under 5%
Britain’s “big six” banks have made a significant move by cutting their mortgage rates to below 5 percent. This change comes after a period of inflation decline, which is good news for potential homebuyers and those looking to refinance their homes. Barclays, a major player in the banking sector, has announced a reduction in its…