Liverpool Property News
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Market recovery continues
After starting the year with a moderation of -1.7%, annual house price growth has recovered to 2.7% in June, bringing the average price of a property to £287,927.
This is the first month since April 2023 that all UK regions are recording positive annual price ...
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Rate of housebuilding must accelerate
The government has made clear its commitment to getting new homes built to address the housing crisis and surveys show that growing numbers of people are on-side with the idea of new developments.
But, it will be challenging. Only 114,000 new homes were built in ...
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The race to rent
With peak rental season underway, homes to rent continue to be in high demand and are renting quickly. The median time on the market from listing to finding a renter is just 12 days meaning that over half of all homes are being rented in ...
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Medium-term outlook – sales price forecasts have improved
Mid year is a good time to reflect on the market outlook for the rest of 2024 and beyond. Notably, recent revisions to house price forecasts show a more optimistic outlook for this year.
Whilst cuts in the Bank of England bank rate have yet ...
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Gearing up for world bicycle day
Cycling is good for our health and wellbeing and, because it is one of the most sustainable modes of transport, it's good for the planet too. That's why we mark World Bicycle Day every June, to encourage more people to take to two wheels.
The ...
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City ranking
The top 3 places best placed to experience rental growth are: Reading, Bristol, and Milton Keynes, according to new data from PriceHubble.
Reading has recently benefited from the opening of the Elizabeth Line (Crossrail), drawing in a new demographic of renter and also is well ...
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It's time for terraced homes
Terraced houses are the property type selling the quickest across the UK, at an average of just 56 days, followed closely by semi-detached houses at 58 days.
Flats are taking an average of 75 days, while detached houses are taking the longest to sell at ...
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Shining a light on energy-efficient homes
Buyers are increasingly looking for more energy-efficient homes, with 39% of survey respondents noticing greater interest from buyers, an increase from 34% when the same question was asked last year.
43% stated that sellers were looking to attach a premium to homes that are more ...
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Housing and wider economic outlook
Monitoring the outlook for various economic indicators gives us a good view on both the current and future direction of the housing market.
At the Bank of England March meeting the bank rate was held at 5.25% but the governor announced "We are on the ...
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Spring Budget 2024
The Spring Budget this year felt very much like a keep calm and carry on budget for the housing market. There were no dramatic policy announcements to interrupt usual housing market activity.
Better inflation forecasts from the Office of Budgetary Responsibility are good news for ...
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Garden rooms can add 5%
Spring is around the corner with seven-spot ladybirds, daffodils and snowdrops emerging across the country. Naturally our attention is turning to gardening and planning what to do with our outdoor space.
Research by The Motley Fool found that adding a quality garden room is the ...
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Interest rate outlook
The Bank of England held the Bank Rate at 5.25% in its February 2024 meeting. The Bank Rate has been at this level since August 2023. Given current economic data, it is more likely that interest rates will be cut in the second half of ...
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January jump in asking prices
The average new seller asking price rose by 1.3%, the biggest price rise for January since 2020. This is over double the 20-year average of +0.6%.
As mortgage rates fall and the economic outlook brightens, buyer demand is improving, with 42% of agents reporting that ...
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Is AI reshaping the property industry?
Artificial Intelligence left its imprint on the property market landscape in 2023, starting to reshape the way things operate.
48% of estate agents reported using ChatGPT or equivalent in their business (compared to 38% in May), and a further 19% were exploring it in use ...
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Second home hotspots
Cornwall has been ranked as the top hotspot in the UK for second homes, with 9,425 currently located there. Kensington and Chelsea came second with 5,355, and Westminster third with 4,390.
Kensington and Chelsea tops the charts for the highest total value of second homes ...
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Days of Christmas | Oh! Christmas tree
Resplendent with twinkling lights and cherished ornaments, the Christmas tree is a symbol of warmth, tradition, and the spirit of giving.
The average Christmas tree will grow for 15 years before it's ready for sale. In the same time frame, rents have lit up by ...
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Autumn Statement 2023 Key headlines
In the Autumn Statement, the Chancellor announced support for low-income renters by raising the Local Housing Allowance to cover the lower 30% of rents. This will give 1.6 million households an average of £800 of support.
Cuts to employee National Insurance from 12% to 10% ...
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First-time buyer funding
The average deposit paid by a first-time buyer was £43,693. Perhaps unsurprisingly, almost two-thirds (63%) were in the top 40% income bracket.
Just over two thirds (68%) of first-time buyers paid less than a 20% deposit, while a fortunate 5% were mortgage-free.
85% reported funding ...
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Rental affordability
Although earnings in the south of England are generally higher than in other parts of the country, anyone needing to rent a home, will have to give up a higher proportion of their income just to cover the rent.
‘Rental affordability’ is a good indicator ...
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More renters are small business owners
Newly released data from the 2021 census shows that there were significant changes in the make-up of people living in the private rental sector in the last decade.
There was a 17% jump in the proportion of private sector renters working in higher managerial and ...
About The Blog
This Blog looks at what is happening in Liverpool, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area.
Gill Bell - Editor
T: 0161 707 4745
E: [email protected]