Tag: Propertymark
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Victorian Elegance Reigns Supreme in UK Home Searches
Victorian homes have emerged as the frontrunners in the race for the most sought-after period property style in the UK. This resurgence in popularity can be largely attributed to the influence of period dramas such as “Downton Abbey” and “Bridgerton.” These shows have not only captivated audiences with their engaging narratives but have also showcased…
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UK Housing Market Update – Appraisals Down But Buyer Interest Remains High
According to Propertymark’s latest Housing Insight Report, the UK housing market has seen a noticeable decline in the number of market appraisals in March, with figures dropping by 7%. Market appraisals, which are assessments made by estate agents to estimate the market value of a property, are a key indicator of housing market activity and…
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Increase in North East Property Prices Leads UK Market
The North East of England is experiencing the sharpest increase in property prices compared to any other region in the UK. This regional boom contrasts starkly with the broader UK market, where many areas are seeing a decline. Recent data from the Land Registry pinpoints the North East as the UK’s hotspot for property price…
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Housing Squeeze – Rents Rise as Homes to Let Dry Up
The latest insights from Propertymark’s Housing Insight Report show that the demand for rental properties is far outstripping the supply. This imbalance has pushed landlords to a tipping point, with a growing number deciding to sell their properties as their attractive mortgage deals come to an end. February’s figures are alarming. The availability of rental…
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Scotland’s Rental Revolution – Freezing Rents for Five Years
Scottish buy-to-let landlords are facing a dramatic shift in the landscape with a proposal that could see rent increases halted for up to five years. This plan, part of the ambitious Housing (Scotland) Bill, is stirring up considerable debate and concern among property investors and industry experts. The initiative, spearheaded by Patrick Harvie, the Green…
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Home Buyers Brace for Stamp Duty Spike
Chancellor Jeremy Hunt’s latest budgetary decisions are poised to significantly impact home buyers across the country. Despite widespread speculation and hope for a reduction in stamp duty land tax to invigorate the housing market, the Chancellor has opted to maintain the status quo, leading to a projected £9.4 billion surge in property taxes over the…
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Call for More Affordable Mortgages to Support UK Homebuyers
Propertymark is urging banks and financial institutions to introduce more affordable mortgage rates. This comes at a crucial time when inflation levels are beginning to stabilise, providing a golden opportunity for lenders to play a pivotal role in enhancing consumer confidence and making borrowing costs more manageable. Halifax has recently announced its decision to lower…
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UK Homeowners Rush to Sell as Property Market Springs to Life
UK estate agents are witnessing a significant surge in homeowners looking to sell their properties. This January, the number of property valuation requests reached an all-time high, signaling a potentially vibrant spring selling season ahead. A Record-Breaking Start The housing market in 2024 has kicked off with an unprecedented level of homeowner activity. According to…
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Latest Rise in Rental Rates – Propertymark’s December Snapshot
As the festive season rolled in last December, wallets across the UK felt an extra pinch. According to Propertymark’s latest Housing Insight Report, a significant 35% of their members (property agents) reported a hike in rental prices. This rise in costs has left many tenants grappling with higher bills during what is already a financially…
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Record High Rents Outside London, Growth Slowing as Tenants Reach Affordability Limit
Tenants outside of London are now facing a new challenge: record-high rental prices. According to the latest data from Rightmove, the average asking rent for new properties coming onto the market has soared to a staggering £1,280 a month for those living outside the capital. This figure marks a new peak in the rental market,…