Tag: Wales
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Granny Flats Boom – The Rising Popularity of Annexes
In recent months, there’s been a shift in the UK housing market, with a surge in demand for homes featuring self-contained annexes, or as they’re affectionately known, “granny flats”. This trend comes as a direct response to local councils intensifying their crackdowns on second homes. Purplebricks, a leading online estate agent, has reported a significant…
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Home Sellers Get Six-Figure Profits
Homeowners in England and Wales typically reaped six-figure gains in 2023, when selling their properties, based on analysis by Hamptons. 2023’s home sellers, who had owned their properties for an average of nearly 9 years, enjoyed an average profit of £102,650 over their purchase price. This figure, though slightly lower than 2022’s £112,930 average, marked…
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Finding the Right Buyer – How Many Viewings Does It Take?
A study conducted by Quick Move Now, a prominent player in the property scene, has revealed that on average, a property in the UK takes about 16 viewings before it finds its new owner. This statistic is a vital insight for both sellers and buyers, highlighting the journey a property undertakes before changing hands. The…
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Wales Leads the Way in Rental Yields – A Look at the UK’s BTL Hotspots
Wales has surged ahead in the rental market, achieving an impressive 8.9% yield, which is a 2.2% increase over the past year. This remarkable growth, including a 1.7% rise just in the last quarter of 2023, has positioned Wales at the top of the rental yield league table. Not far behind, the North West and…
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Furness Unveils New Mortgage Options for Holiday Homes
Furness Building Society has recently announced the introduction of innovative mortgage products designed for holiday lets for investors across England, Scotland, and Wales. These new financial products are tailored to meet the growing interest in holiday home investments, presenting a range of options that cater to various needs and circumstances. Furness is expanding its portfolio…
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ONS Rental Prices – December 2023
The latest ONS data on UK private housing rental prices reveals significant hikes across the country. In the last 12 months leading up to December 2023, private rental prices in the UK have seen an increase of 6.2%. This figure mirrors the annual percentage change observed in November 2023. It’s important to note that this…
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ONS House Price Index – November 2023
Recent data from the Office for National Statistics has highlighted a decrease in average UK house prices. Over the 12 months leading up to November 2023, there’s been a 2.1% drop in house prices. This decline is steeper than the 1.3% decrease observed in the 12 months to October 2023. What’s the Average Price Now?…
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The Real Cost of Fixer-Uppers Revealed
Have you ever dreamt of snagging a bargain property and transforming it into your dream home? Enter the world of fixer-uppers! These are properties that need a bit of TLC – think outdated kitchens and bathrooms, and décor that takes you back a few decades. They’re not for the faint-hearted, but if you’re up for…
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Are City Flats Becoming a Top Investment Choice for Landlords?
Recent research from Shawbrook Bank shows on a fascinating trend: landlords are showing a growing preference for city flats. This shift aligns with the changing patterns of living post-pandemic. As offices reopen and people move back to cities, the demand for urban flats is on the rise. Key Findings: This trend is a clear indication…
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Newbury Building Society Slashes Buy-to-Let Rates
Newbury Building Society has announced a new range of improved buy-to-let products. Let’s break down exactly what these changes mean: Geographical Availability These products are not just limited to a specific area; they’re available across England and Wales. However, if you’re an expat, take note: these products are not available to those living in an…