Tag: Wales
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Auctions are Becoming a Buyers’ Market
Property auctions have always been a dynamic aspect of the real estate market. According to the House Buyer Bureau, recent data suggests a change in the auction environment: a movement towards a buyers’ market. In simple terms, a buyers’ market arises when there are more properties available than there are people wanting to buy. This…
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House Prices to Fall 4% by Year-End
Price comparison site, Reallymoving, has projected that house prices across England and Wales will experience a decrease of 4% in the final quarter of 2023. If this forecast holds true, it implies that the average property price, which was £336,999 in the third quarter, would drop to approximately £323,594 by the end of Q4. Underlying…
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Buy-To-Let Still Giving 8% Returns in Some Areas
With rising interest rates, sterner regulations, and a tax squeeze, many prospective landlords are questioning the viability of their investment dreams. Yet, research from digital mortgage lender Molo Finance suggests that by picking the right locations, investors can still reap yields nearing an impressive 8% in England and Wales. Understanding Property Yields Before diving deeper,…
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Renters (Reform) Bill – Hidden Threats for Landlords
Landlords are being alerted about the potential financial implications of the Renters (Reform) Bill. While the bill’s initiative to abolish Section 21 ‘no fault’ evictions in England and Wales has been postponed, other aspects of the legislation are sparking concerns within the landlord community. Landlord Licensing & Defence has shared their concerns about the bill.…
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Leasehold Properties – The Pros and Cons of Buying One
Leasehold properties can trace their origins back to Victorian England. During this era, the burgeoning middle class sought to invest in properties, but the freehold title (ownership of the land) was typically retained by aristocratic families. This historical fact is one reason a large part of central London remains under the control of a select…
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Top Cities for First-Time Buyers in the UK
Aldermore Bank have launched their 2023 “Appeal Index” to evaluate which cities are best for first time buyers. It evaluates cities across the UK using 10 indicators split between two main categories: property and lifestyle. In an impressive show of consistency, Scottish cities, particularly Glasgow, have maintained their top positions on the Appeal Index. They’ve…
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Rent Squeeze: Londoners’ Pockets Hit Hardest
Data from the Office for National Statistics (ONS) for the year leading up to March 2022 paints a concerning picture: London dwellers have been doling out an eye-watering 35% of their incomes to cover rental costs, averaging £1,450 per month. This figure isn’t just a record for the city; it’s the highest across the UK,…
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Areas with the Heftiest Rental Deposits Across England and Wales
Finding a rental property that suits your needs is just part of the journey; the financial aspect, especially the initial deposit, often poses a significant hurdle for many tenants. A recent study reveals how this challenge is not uniform across England and Wales, with some postcodes demanding considerably heftier deposits than others. The Growing Cost…
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London Leads in Luxury: 1 in 5 Homes Sold for £1M+
Data from Benham and Reeves, a prominent London lettings and estate agent, shows that about one in every five homes in London has been sold for £1 million or more this year. This trend underscores the capital’s unyielding allure among the affluent, marking it as a hotspot for high-value property deals. Diving into the digits,…
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Rental Yields Rise by 1%
Rental yields, much to the delight of investors, have not just grown but have sustained this growth for the third consecutive quarter. Compared to the same time span in 2022, the average yield has seen a substantial rise of 1%, settling at an impressive 6.9%. This growth is not just an annual highlight; it also…