Tag: Zoopla
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Sky-High Rents – Over Half of UK’s Rentals Now Costing £1,000 a Month
A recent study has shown that the cost of renting a home in the UK is soaring, with more than half of all rental homes now commanding prices above the £1,000 per month mark. This situation underscores a growing problem in the housing market, where the demand from tenants far outstrips the supply of affordable…
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Homeowners Cash In, Majority of 2023 Property Sales End in Profit
The majority of homeowners who decided to sell their properties in 2023 found themselves on the fortunate side of the fence. According to comprehensive data from Zoopla, a leading property portal, an impressive 93% of home sales last year resulted in a profit, with sellers pocketing an average gain of £74,000. Zoopla’s analysis, based on…
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Mortgage Rates and House Prices Will Stabilise
The Office for Budget Responsibility (OBR) has provided a more optimistic forecast for UK mortgage rates. For those worried about rising mortgage rates, the OBR has some good news. The peak mortgage interest rate is now forecasted to hit 4.2% in 2027, a decrease from the previously predicted peak. Even more encouraging is that mortgage…
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Uncovering the True Cost of New Build Homes
The debate between opting for a new build home versus a second-hand property remains a hot topic. With a significant chunk of homebuyers leaning towards the allure of brand-new homes, it’s crucial to peel back the layers of this preference to understand what’s driving the market and whether new builds genuinely offer better value for…
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UK House Prices Rise by 1.2%
UK house prices have taken a positive turn for the first time in over a year this February, signalling a potential revival for the property market. This resurgence comes as a breath of fresh air to homeowners and potential buyers alike, following a period of stagnation and uncertainty. According to Nationwide, Britain’s largest building society,…
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UK Home Sales Set to Jump – Buyers and Sellers Make a Comeback
According to the latest figures from the property website Zoopla, both buyers and sellers are stepping back into the market with renewed enthusiasm. February witnessed an increase in property transactions, setting the stage for a projected 10% rise in home sales throughout the year. Zoopla’s data paints an optimistic picture of the property landscape, with…
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First-time Buyers Paying 8% Less than Local Averages
First-time buyers are securing their first homes at prices around 8% below the local averages, according to the latest insights from Zoopla, a leading property portal. They are making their entry into homeownership with an average purchase price of £244,100, which is £20,300 less than the local market averages. The savings are even more pronounced…
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Rent Rises – Will They Continue?
Over on the PropertyWire website, Alison Thompson, a leading expert in national lettings from the Leaders Romans Group, sheds light on the trends and predictions that could shape the future of renting in the UK. For decades, rent increases in the UK moved predictably alongside wage growth, usually keeping pace with inflation at a steady…
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Sell Your Home Without An Estate Agent
Moving home is not just a logistical and emotional challenge; it’s also a financial one. Among the myriad expenses homeowners face, estate agent fees stand out as particularly steep, often surpassing 3% of your home’s sale price. In the UK, where the average house price can result in fees around £8,550, that’s no small change.…
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UK Housing Market Bounces Back to Life
Average asking prices have surged for the second consecutive month, signaling a robust comeback for buyers eager to dip their toes back into the real estate waters. According to the latest data from Rightmove, property prices are marching forward, with average asking prices jumping by 0.9% this month to £362,839. This isn’t a standalone event;…