Tag: Northern Ireland
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Northern Ireland House Prices Rise 3.1%
As of the third quarter of 2023, the average house price in Northern Ireland has risen to £179,530, marking a 3.1% increase from the second quarter. This uptick is particularly noteworthy considering the broader context: a significant reduction in the number of new homes being built, according to data from the Northern Ireland Statistics and…
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ONS Reports Dip in UK House Prices
The UK property market has recently experienced a noteworthy shift, with house prices witnessing their first annual fall since April 2012, according to the latest data from the Office for National Statistics (ONS). House prices fell by 0.1% in the 12 months leading up to September. This slight decrease marks a significant change from the…
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Decline in New Home Registrations
Recent data from the National House Building Council (NHBC) indicates a sharp decline in the registration of new homes—a step where developers indicate their plans to construct new properties. This figure has dropped by 53% compared to last year’s third quarter, marking the lowest since the initial COVID-19 lockdown. Regional Impacts and Property Types The…
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Build to Rent Boom: Insights from Q3 2023
The third quarter of 2023 has seen a significant surge in Build to Rent (BtR) activity, indicating a robust and dynamic sector despite broader economic challenges. Recent research by Savills highlights that the BtR market witnessed 18 noteworthy transactions in Q3 2023, culminating in an impressive investment volume of £448 million. This activity underscores the…
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UK Rental Prices Rise Again
In the current UK rental market, tenants are experiencing a significant financial squeeze with the average rent now at £1,283 per month. This marks an astonishing year-on-year rise of over 9.5%, with the numbers outside the capital not far behind at £1,068 per month, up by 9.43%. The upward trend in rental costs is not…
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Optimism Rises Among First-Time Homebuyers in the UK
According to recent research commissioned by HSBC UK, first-time buyers are gaining confidence in their quest to find a property, with many believing that the dream of holding the keys to their own home is within closer reach than it was just a few months ago. A Surge in Buyer Confidence The study indicates a…
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UK Rent Prices Soar Further
According to the HomeLet Rental Index, October saw monthly rent prices surge across nearly every region in the UK, setting new records. Here’s what those numbers look like: These statistics underscore the accelerating pace at which the rental market is evolving. The Real Impact on Renters The surging rent prices are outpacing wage increases for…
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Rent Squeeze: Londoners’ Pockets Hit Hardest
Data from the Office for National Statistics (ONS) for the year leading up to March 2022 paints a concerning picture: London dwellers have been doling out an eye-watering 35% of their incomes to cover rental costs, averaging £1,450 per month. This figure isn’t just a record for the city; it’s the highest across the UK,…
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Unprecedented Rise in Room Rents
As of the third quarter of 2023, rents across the UK have soared to levels never seen before. This trend isn’t just occurring in traditionally expensive areas; even regions once considered more affordable are experiencing sharp rent increases. Data from SpareRoom, a leading flatshare site, shows a staggering 16% year-on-year rise from 2022, setting the…
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ONS Rental Price Index, September 2023
The ONS today released its Index of Private Housing Rental Prices for September 2023. According to the Index —an experimental price index that monitors the prices paid for renting property from private landlords in the UK—there has been a significant gain in private rental prices, especially in the year preceding September 2023. A Peak in…