Tag: Propertymark
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Inflation Rise Hits UK Housing Market – Prices Set to Drop
The UK’s housing market is bracing for impact as inflation rates continue to rise, defying earlier expectations. Experts from Propertymark, a leading property trade body, have warned that a decrease in house prices is now inevitable. The statement from Propertymark suggests that the persistent high inflation is a major player in the imminent drop in…
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UK Property Hotspots -Sandbanks Leads with a 20% Rise
The property market in Britain is buzzing in some areas, and leading the charge is the luxurious Sandbanks, a coastal gem that has seen a staggering 20% hike in asking prices in just one year. This has crowned Sandbanks as Britain’s top property hotspot, with average asking prices nearly touching £2 million. Sandbanks, nestled along…
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Golden Opportunity in the Property Market for First-Time Buyers
The UK property market is presenting a unique chance for first-time buyers to get their foot on the property ladder. This viewpoint has been echoed by experts and key figures in the banking and property sectors, though opinions on the ease of accessing the housing market vary. A Bright Outlook from Property Experts Nathan Emerson,…
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Cracking the Code of Estate Agent Speak
Recent polling by IPSOS reveals a startling fact: only 28% of UK respondents trust estate agents. This figure places them above only politicians and journalists in trustworthiness. Such skepticism isn’t new. Back in the 1980s, the estate agent industry was notorious for its lack of standards and unethical practices. However, times have changed, and the…
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UK Housing Market Hits a Bump – Sharp Drop in Home Sales
The UK’s housing market has experienced a significant slowdown, with a notable drop in residential property deals. This decline reflects broader economic challenges and has implications for buyers, sellers, and the overall health of the property sector. Non-Residential Transactions Industry Insights Nathan Emerson, CEO of Propertymark, highlights the housing market’s tough year, marred by high…
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Property Market Slowdown in October 2023
The UK property market experienced a significant slowdown in October 2023, marking a notable shift in the dynamics of housing transactions. HM Revenue and Customs (HMRC) reported the slowest October for property sales since 2021. The seasonally-adjusted estimate showed only 82,910 home sales in October 2023, a substantial 21% decrease from October 2022 and a…
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Downsizing Trend in UK Rental Market
The UK’s rental market is undergoing significant changes, with a noticeable trend toward downsizing, particularly among families. Recent data from a BBC report indicates a growing trend among UK families: renting smaller homes than they did just three years ago. This shift is largely attributed to the steep rise in rental prices coupled with limited…
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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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Rental Market Squeeze: Demand Soars but Homes Stay Scarce
According to the latest Housing Insight report by Propertymark, the letting agents’ main representative body, the amount of rental properties available is alarmingly low. In September 2023, on average, each member branch had only 11 properties up for rent. And if you thought that’s a significant drop from the previous months, it’s interesting to note…
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More Cash Buyers as Downsizing Increases
According to the latest House Price Index by Zoopla, a notable shift in buying patterns has emerged. Remarkably, one in every three homes in 2023 was purchased outright with cash, a significant jump from one in five over the past five years. This change seems to indicate that homeowners are seizing the opportunity provided by…