Tag: Propertymark
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House Prices in the West Midlands – Is It Time to Buy?
The property market in the West Midlands is still showing signs of life, even as house prices across the UK are starting to wobble. New figures from Halifax show that the average house price in the West Midlands is now £252,745, a small 0.8% increase compared to this time last year. While that might not…
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Homes Up For Grabs! Housing Market Sees a Springtime Surge
The housing market is buzzing with activity, with buyers and sellers back in the game, according to the latest figures from Propertymark. April saw a surge in interest, with more people than ever looking to buy or sell a home. Challenges Remain While things are looking good, there are still some challenges facing the market:…
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Are Landlords Fleeing the Market?
Forget buying a house, finding a place to rent is getting harder and harder. New figures from Propertymark are showing just how tough it’s getting. The number of people desperate to find a place to rent is rising, but some landlords are running for the hills! Propertymark’s latest report says its members are seeing a…
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Are Energy Performance Certificates Still Reliable?
Energy Performance Certificates (EPCs) are essential tools in the United Kingdom, designed to provide insights into the energy efficiency of properties. Issued for homes sold, rented, or built since 2008, these certificates rate properties from A (most efficient) to G (least efficient) and suggest potential improvements. In a time when energy costs are soaring and…
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Housing Market Defies Higher Mortgage Rates with Continued Growth
Despite the rise in mortgage rates, the UK housing market continues to display remarkable resilience. According to the latest data from HM Revenue & Customs (HMRC), housing transactions have increased for the fourth consecutive month. In April 2024, transactions rose by 5%, reaching 90,430 up from 86,420 in March 2024. Remarkably, this figure is also…
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UK House Prices Edge Upward – A Glimpse of Market Resilience Amid Political Uncertainty
In May, after a shaky start to the year, the UK housing market showed a hint of recovery. The latest data from Nationwide Building Society indicates a modest rise in house prices, hinting at underlying resilience despite economic challenges. In May, the average UK house price increased by 0.4%, reaching £264,249, according to Nationwide. This…
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Homeowner Rights Dampened in New Leasehold Reforms
Michael Gove, the Secretary of State for Levelling Up, is facing criticism for new legislative changes that allegedly dilute the rights of leaseholders in the UK. The Tory party’s latest leasehold bill, which was a significant pledge in their manifesto, has officially passed in Parliament as of last Friday. The bill was intended to bolster…
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How the Upcoming General Election Could Affect the UK Property Market
Prime Minister Rishi Sunak has declared that a General Election will be held on Thursday, July 4th, 2024, with Parliament dissolving on May 30th. This announcement has sparked a flurry of predictions and expectations from housing experts and stakeholders about the possible effects this political milestone could have on the property market. Housing as a…
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UK Housing Market Springs Back – Prices and Rents on the Rise!
The recent data released by the Office for National Statistics (ONS) has shed light on the state of the UK housing market, revealing some significant trends in house prices and rental costs. After a period of decline, the UK housing market has shown signs of recovery with an average increase of 1.8% in house prices…
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Relief for Renters as Rent Arrears Decline
Recent findings by Propertymark, the professional body for estate and lettings agents, have shed light on a positive shift in the rental market—fewer tenants are now falling behind on their rent. A survey conducted among Propertymark members revealed a significant decrease in tenants facing rent arrears. As of March 2024, only 2.5% of properties managed…