Homeowner stays shorten while renters rent for longer
While we wait for the 2021 census housing data we look to the newly published 2020/21 English Housing Survey data to help us understand the changing relationship we have with our homes since the last census. Since 2011/12, owner occupiers have seen a drop in their length of tenure, from an average of 17.1 years […]
Making sense of the Census results
The first results of the 2021 Census published on June 28th show the population of England and Wales was 6% higher on Census day 2021, compared to Census day 2011. The number of households was also 6% higher. Over the same period property prices rose by an average of 39%, urban areas outperforming their rural […]
Chancellors’ £15bn will help limit impact of the cost-of-living crisis on the housing market
Before the £15bn support package was announced in May, the cost-of-living crisis seemed very likely to dent confidence in the housing market. Real disposable household income is a good measure of the cost of living. It tracks the impact on average incomes of changes in inflation, tax and benefits. Inflation soared as economies reopened after […]
Average commute rises for private renters
Traditionally, those living in private rented homes have tended to live close to their place of work. This is often a lifestyle choice to minimise commute times/cost and to enjoy city living. Across England and Wales, the distance renters live from their place of work has risen by 31% since the pandemic, from 19 miles […]
On the move
More than 1 in 3 are in the process of, or are considering moving home, according to a survey of 3,000 respondents conducted by Nationwide in April. Housing market activity remains buoyant, despite increasing pressure on household budgets which is impacting consumer confidence. A desire for space continues to motivate many. 1 in 4 of […]
Easter addresses
Nearly 1,700 property sales have taken place on Easter- related addresses over the past 12 months. At £731 million, their sales value is significantly more than the £415 million set to be spent on Easter Eggs. 88% of Easter-related sales included ‘Cross’ in the address, just 1.2% Easter. Lamb was the most prevalent Easter-related animal, […]
Spring Statement: Key Takeaways
The Chancellor warned that the global economic outlook is ‘challenging’ in his Spring Statement. The OBR has lowered its economic growth forecast to 3.8% this year, down from the 6% forecast in October. Property price growth is expected to outperform economic growth this year, averaging 7.4% over 2022, before slowing to 1.3% in 2023. No […]
Does your rental property hit the energy performance mark?
Government targets state that by the end of 2025 new lets will require an Energy Performance Certificate (EPC) rating of band C or above. Just over half (51%) of all rental properties let out over the last 12 months had an EPC of band C or above, virtually unchanged on the previous 12 months. Mortgage […]
Strongest annual house price growth in December since 2002
The UK recorded average house price growth of 10.8% in 2021. This is the strongest annual growth at the year end since 2002. The average price of a UK home now stands at £274,712, marking another record high. House prices increased by nearly £27,000 over the course of 2021. Annual increases in house prices were […]
Change of scene?
Change of scenery/lifestyle remains a key driver behind home moves, as the persistent shortage of supply has held back potential home moves. Change in lifestyle/scenery becomes a more significant reason as the value of the home rises, peaking at 21% in the £750k – £1m price band. At the lower end of the housing market, […]