Mixed messages on house prices
According to Nationwide’s latest house price index based on its mortgage lending, house prices fell in April by 0.4% compared to March. It said that house prices are now around 4% below the all-time highs recorded in the summer of 2022. The slowdown likely reflects ongoing affordability pressures, with longer term interest rates rising in […]
Rental inflation slows at last
The heat is finally coming out of UK rental inflation which has slowed to 7.8%, down from 11% a year ago – the lowest rate for 2 years according to Zoopla’s latest Rental Report. The average UK rent is now £1,223 per month. The moderation in rental inflation is down to weakening demand and growing […]
Property market marches into spring with higher demand and sales
The positive start to the year continues, paving the way for a greater number of home purchases than last year says Rightmove. The average price of newly marketed properties rose by 1.5% (+£5,279) this month to £368,118, higher than the historic average March increase of 1.0% and the biggest for 10 months as the market […]
What the Spring budget changes mean for landlords
The recent budget was likely to be one of the last the current Chancellor will give in the light of a General Election occurring before the end of 2024. The top key takeaways from the Spring Budget for landlords include a change to the tax cuts for holiday homes and multiple dwellings meaning that holiday […]
House prices rise for 5th consecutive month
The average house price rose by +0.4% in February, the fifth monthly rise in a row says Halifax. The lender’s latest data shows that property prices were +1.7% higher than a year ago, slowing from +2.3% in January. A typical UK home now costs £291,699, around £1,000 more than last month. However, these figures continue […]
Rental legislation is changing, do you know what’s coming?
There is much speculation if the long-awaited Renters (Reform) Bill will become law in 2024 and before the general election. There have been several delays to the Bill which is currently being debated in the House of Commons. It will need to undergo similar scrutiny in the House of Lords before it can finally become […]
Record number of home valuation requests in January
New data from Rightmove reveals that the number of people sending a request to an estate agent to value their home was 23% higher in January 2024 than the previous record of January 2023. January’s figure was also 27% higher than the third highest month on record for valuation requests in July 2020, when the […]
Rents now 9.2% higher than last year says Rightmove
Average advertised rents outside of London rose to a new record of £1,280 per calendar month (pcm) says Rightmove and are now 9.2% higher than last year, although show the lowest annual growth in rents since 2021. The portal is predicting average rents will rise by 5% outside of London in 2024 while the trend […]
Buyer and seller activity jump at start of year
There has been some promising activity in the property market at the start of the year says Rightmove, in fact markedly stronger than a year ago. More prospective buyers and sellers seem to have the confidence to get their 2024 moving plans started early while buyer demand in the first week of 2024 is also […]
Leasehold and freehold reforms announced
The King’s Speech at the State Opening of Parliament has outlined the content of the government’s Leasehold and Freehold Bill in England and Wales. The Bill will make it cheaper and easier for leaseholders owning houses and flats to buy the freehold and removes the requirement for a leaseholder to have owned the property for […]
