It may be the year of the dragon but it could also be the year of the property investor! Headwinds have quickly turned to more favourable tailwinds, with mortgage rates decreasing, optimism increasing, and the potential for a Spring Budget bonanza to assist budding and existing landlords.
The kitchen is often described as the heart of the home – especially with our fondness for open plan living – so it makes sense to spend time and money on a room that’s well used.
As estate agents, we stay up-to-speed with finance news, as mortgage rates have a huge impact on buying and selling activity. As a rudimentary reminder, the lower the mortgage rate, the cheaper monthly repayments become. We know many home movers have delayed buying a property until mortgage rates eased and that has definitely happened as we start 2024.
December marked a year when we returned to what agents call ‘normal’ sales conditions. But what is normal? It means historically average mortgage rates, sellers having to be realistic when it comes to pricing and an absence of cataclysmic events.
The lettings market in 2023 was extraordinary. When it analysed its figures, Rightmove found there had been an average of 20 individual enquiries for every rental property available. For context, only six tenants were chasing each rental in 2019.
Are you sitting comfortably? There’s lots to digest! Property announcements happened from the very start to the very end of November, affecting buyers, sellers, tenants and landlords. First, let’s set the scene with prices.
Pink isn’t going anywhere, with an updated version of the colour recently announced as the Dulux Colour of the Year 2024. Thankfully, Sweet Embrace™ is a very pale, muted pink that does not bring Barbie to mind.
Tenant safety should never be far from a landlord’s mind. In light of a new set of best practice guidelines being issued by Electrical Safety First, we take a broader look at electrical safety in privately rented properties. Here are six things landlords should know:
You may have seen King Charles III officially opening the new session of Parliament in early November. During the pomp and ceremony, the King read out the Government’s main intentions for the 12 months ahead.
Propertymark’s latest report gathered responses from approximately 100 sales and 100 lettings agents 1st and 14th October 2023 for a great snapshot of the market. It found there were an average of 60 prospective buyers registered per branch, illustrating that there’s an appetite to move.
The second reading of the Renters’ Reform Bill in October took many landlords by surprise, with an unexpected announcement regarding Section 21 eviction notices – the method used by landlords to regain their property without having to have a specific reason. We have poured over the details and have provided answers to your most common questions.
When Rightmove decided to compile a list of the top 10 most in-demand features among buyers, it looked at more than 600,000 property listings to establish which aspects led to the highest number of enquiries. Forget a garden or being near a station (they languished at the bottom of the list), the most in-demand feature among purchasers is a renovation project – a home classed as a fixer-upper in need of work.
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