Tag: Southampton
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House Sales Soar as Mortgage Rates Fall
The number of homes being snapped up is rocketing, thanks to lower mortgage rates. New figures show that ‘sales subject to contract’ – where an offer has been accepted – shot up by a massive 23% in the last three months compared to the same period last year. That means 332,200 homes were in the…
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Peterborough Crowned UK’s Cheapest City for First-Time Buyers
Forget battling it out in the capital, first-time buyers looking for a bargain should set their sights on Peterborough. New research has revealed that this Cambridgeshire city offers the most affordable route onto the property ladder. While Peterborough might not be known for its good looks, it seems that what it lacks in charm, it…
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Up To 50 Potential Renters Are Battling for Every Home in These Areas
New data reveals that in some UK rental hostpots, there are up to 50 people competing for every single property. Luton is the worst offender, with a whopping 49 people vying for each rental property. Reading, Sheffield, and Newcastle aren’t much better, with 48 people competing for every listing. These towns and cities are also in the…
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House Price Realities – Only a Handful of UK Towns Outpace Inflation
The reality for many UK towns and cities starkly contrasts the common belief that house prices double every decade. Since 2005, only a select few areas—Manchester, Bristol, Cambridge, London, Brighton and Hove, and Edinburgh—have witnessed property price increases that surpass the average annual inflation rate of 3.8%. The data, drawn from tracking 30 cities, reveals…
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UK’s Top 10 Cities for House Price Growth – Where to Invest Now
Key points – London, traditionally a magnet for property investors, has seen a decrease in appeal due to its high prices. This has shifted the focus to other major cities in the UK, which are now being recognised for their potential in property investment. The Office for Budget Responsibility (OBR) recently predicted a 4.7% fall…
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Zoopla Reports Rents Rising by 10%
According to Zoopla’s latest report, the average rent for a new tenancy has surged by a staggering 10.3% over the past year. When translated into monthly figures, renters are now shelling out an average of £1,164. That’s an annual increase of £1,320 compared to September 2022 figures. The Supply-Demand Equation The primary catalyst for this…
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UK’s Student Housing Crisis: Affordability at the Brink
In recent years, UK students have found themselves battling on the frontline of an escalating accommodation affordability crisis. With the widening gap between student rents and maintenance loans, many are struggling to find reasonable housing within their budgets. Rising Rents and Falling Affordability A recent report by Cushman & Wakefield, a leading real estate services…
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Increase in Rental Costs for Students
There’s been a surge in rental costs for student accommodation outside London, now averaging £10,227 per year. This is more than the maximum maintenance loan of £9,978 that students can access, making it challenging for those, especially from poorer backgrounds, to afford living expenses. High Demand & Limited Supply There’s an intense demand for student…