Tag: Propertymark
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Supply of Rental Properties Remains Low
According to Propertymark, the average number of properties available to rent per member branch in September 2023 has remained consistent with August 2023 figures, resting at 11 properties. This might seem like a stable market on the surface. However, diving deeper, we find that these supply levels have barely fluctuated over the past year. But…
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Rental Demand Still Rising, Supply Stagnant
New data from Propertymark’s Housing Insight report indicates that the number of people seeking rental properties is skyrocketing, but the supply of available rentals isn’t keeping up. A substantial 52% of letting agents have reported a month-on-month increase in rents, underscoring the demand pressure. In a nutshell: Despite some fluctuations in recent months, the core…
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London Prices Fall But It’s Still Most Expensive Area
Recent data from the Office for National Statistics (ONS) reveals that London house prices have witnessed a 1.4% dip over the year leading up to August. This decrease is noteworthy, considering the capital’s reputation for steep property prices. Despite this decline, however, London retains the crown for the most expensive region in the UK to…
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UK Property Industry Responds Optimistically to Labour Party’s Ambitious Housing Initiatives
Leading figures in the UK property industry have responded warmly to the ambitious housing pledges proposed by Sir Keir Starmer, Labour party leader. In a bid to address the UK’s housing crisis, Sir Starmer presented his vision at the Labour Party’s annual conference. His long-term strategy, expecting to span two terms in power if elected,…
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Propertymark’s Reaction to House Price Falls
In a move that has taken some by surprise, Propertymark, a major name in the industry, has expressed cautious optimism about the recent 5.3% drop in UK house prices over the year leading up to September. Their viewpoint offers a glimmer of hope to those aspiring to climb or step onto the property ladder. This…
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Early Signs of Housing Market Demand Bouncing Back?
The UK’s housing market is showing early signs of bouncing back, but rental prices are causing some concern. Let’s take a closer look at the figures and what experts are saying about the state of property in the country. A Glimmer of Hope for Homebuyers The latest market insights from Propertymark have painted an encouraging…
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Making Private Rented Sector More Welcoming for Disabled Tenants
Today, potential property investors and current landlords are being called to action. A new opportunity has sprung up, aimed at offering financial support to make accommodation more accessible for older and disabled tenants. The goal? To enable these crucial members of our society to continue to live independently and have access to suitable, private rented…
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Reactions to Latest House Price Report
The UK property market has experienced its sharpest annual fall in house prices in 14 years, according to data released by Halifax. The average property price in August 2022 fell by 4.6% compared to the same month in 2021, marking the largest year-on-year decline since 2009. This drop means that the typical UK home is…
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House Viewings Down Compared to Last Year
The housing market in the UK is experiencing a significant slowdown, with the number of house viewings plummeting compared to last year. According to Propertymark, the average number of viewings per property has fallen by 98% compared to August 2022. In July, there were only 1.5 viewings per available property, compared to 3 viewings per…