Tag: Northern Ireland
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UK House Prices Edge Up Despite Mortgage Rate Woes – Halifax
UK house prices have ticked up slightly in April, according to the latest data from Halifax’s monthly House Price Index. Despite ongoing challenges with high mortgage rates, the average price of a home in the UK nudged up by 0.1% compared to March, reaching £288,949 from the previous month’s £288,781. This small increase follows a…
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Property Auctions Gain Momentum Despite Economic Challenges
Despite the challenging economic conditions that March 2023 presented, with inflation impacting almost every aspect of the economy, the property auction sector demonstrated remarkable strength. When comparing the figures to March of the previous year, there’s a noticeable increase in the number of lots sold—an impressive 13.7% rise, according to David Sandeman, the head of…
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Northern Ireland’s Commercial Property Outlook
The commercial property market in Northern Ireland has had a relatively subdued start to the year 2024. The ongoing preference for remote work has continued to influence the market dynamics significantly. This trend was highlighted in a recent report released by the Royal Institution of Chartered Surveyors (RICS) which provides a detailed analysis of the…
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Buy-to-Let Yields Improve as Prices Rise
Buy-to-let landlords are witnessing a significant increase in their investment returns, despite the challenges of rising costs. An in-depth analysis by Octane Capital has uncovered that rental yields have climbed over the past two years, creating a lucrative scenario for property investors despite a backdrop of economic turbulence. Rising Rents, Rising Yields According to the…
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UK’s Fastest and Slowest Selling Homes
Recent research has illuminated the variances in how quickly different types of properties are selling across the UK. The findings, sourced from the latest TwentyCi and TwentyEA Property and Homemover Report, pinpoint which types of homes are flying off the market and which are lingering. In Wales, detached homes are taking longer to sell compared…
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ONS Price Index of Private Rents (PIPR) – April 2024
The Office for National Statistics (ONS) has released its latest data on private rent prices across the UK for April 2024, providing a comprehensive overview of the current rental market. Here’s a breakdown of the key points from the report, helping renters and investors understand the trends and what they might mean for the future.…
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UK Housing Construction Falls
The construction sector, particularly within the residential domain, has witnessed a dramatic downturn. This trend, highlighted in Glenigan’s latest industry review, showcases deepening investor apprehension and the direct impact of economic strains on housing construction starts. The report, focusing on the period up to the end of March 2024, scrutinises the commencement of construction projects…
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Mortgage Approvals Soar to 17-Month High
The housing market is showing signs of significant recovery, with mortgage approvals reaching their highest level in over a year. This upswing comes as borrowing costs have started to decrease, marking a positive shift for potential homeowners. In February, the UK saw a substantial increase in the number of mortgage approvals, surpassing the expectations of…
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Five Golden Keys to Unlock Your First Home Dream
Are you dreaming of ditching the rent cycle and stepping onto the property ladder? With the ever-soaring prices, it might seem like a distant dream for many first-time buyers. But fear not! The UK government and various organisations have rolled out several schemes designed to turn your home-owning dreams into reality. Here’s an easy-to-digest guide…
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ONS Price Index of Private Rents (PIPR) – March 2024
The ONS published their new monthly index, the Price Index of Private Rents (PIPR) for March 2024. Here’s our summary. Overall, renters are facing a significant challenge as private rental prices continue to climb. The provisional estimate has unveiled a 9.0% increase in average UK private rents over the 12 months leading up to February 2024.…