The Bank Rate has remained unchanged for the fourth time in a row since it was raised from 5% to 5.25% in August 2023. Rate cuts aren’t expected until later in the year but mortgage costs have still been falling. The Bank Rate remained at 5.25% today, despite hopes it would come down Inflation has […]
How the housing market is affected by inflation, interest rates and global events Read More »
First-time buyers accounted for more than 50% of home loans in 2023, with over 60% on joint mortgages to secure a home. Two out of three first-time buyers had joint mortgages in 2023 at 63%. The average deposit paid was £53,414 – 19% of the purchase price In 2023 Inverclyde in Scotland has been the
Have you considered getting on the property ladder with a friend? Read More »
2024 has begun well for the housing market, with buyer demand up 12% year-on-year and the number of sales agreed climbing 13%. Last year’s rising mortgage rates saw many buyers delay moving, but with rates dropping below 5% in January, more began returning to the market. Demand is definitely up, but it’s still 13% below
House prices begin to stabilise as more sales are agreed Read More »
With the UK governments focus on de-carbonising homes and the many funded schemes available, scams have also become more commonplace with contractors adding extra costs. Your agent should be aware of potential risks and help educate clients and tenants to be on the lookout for common scams. The council does not pay for these installations
Looking to make some government funded home improvements? Read More »
Rightmove predicts that landlords will have to “balance priorities” to get rent prices right over the next 12 months. Advertised lets are being reduced by up to 25% The average tenant spends 50% of their income on rent There is a limit to tenant affordability, with other costs factored in Landlords are still looking for
Are rents being overpriced in 2024? Read More »
2023 saw some changes in the economy and in turn the property market, here we look at some of the key moments that have affected the industry over the past year. We have had the Material Information published, making property listings much more transparent for both Sales and Lettings. This gives buyers and renters more
2023 – A Year in Review of the Property Market Read More »
What is the Full Material Information Guidance for Property Sales & Lettings? The full material information guidance has been created to enable more transparency on property listings for both buyers and renters alike. The material information covers the details about a property that might impact your choices around it All unavoidable costs associated with a
What is the Full Material Information Guidance for Property Sales & Lettings? Read More »
Jeremy Hunt’s Autumn Statement revealed that inflation has now fallen from a high of 11.1% to 4.6%. The government anticipates it will fall to 2.8% by the end of 2024 and to 2% by the end of 2025. The Bank of England is expected to start cutting rates next summer. If mortgage rates begin to fall,
Inflation is down, what about house prices and mortgages? Read More »
Chancellor Jeremy Hunt unveiled his Autumn Statement this afternoon, announcing a rise in the living wage and pensions. National Insurance will be cut from January and inflation is on track to reach 2% by the end of 2025. National living wage rises from £10.42 to £11.44 an hour Pensions up 8.5% or £900 a year
How the 2023 Autumn Statement is likely to affect the housing market? Read More »
We see a lot of EPCs (Energy Performance Certificates) and a lot of the recommendations to improve a homes energy efficiency are often down to having a modern boiler, smart thermostat to control heating, good insulation and solar panels having the most impact. Reduce boiler to 60°C Bleed radiators Service your boiler Install a smart
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