Salford Property News

Mortgage rates are now at their lowest level since March 2024. Average two- and five-year fixed rate deals fell monthly by 0.18% and 0.15% respectively, ending five consecutive months of rises.

According to Moneyfacts, the average two- and five-year fixed rates fell between July and ...

The long-awaited cut in the Bank of England base rate finally materialised on August 1st, signalling the Bank's confidence that inflationary pressures are slowly coming under control.

This first cut since 2020 reduces the rate by a quarter of a percentage point and will be ...

Around half of HMO (house in multiple occupation) landlords surveyed said that they use their property or portfolio as their sole source of income.

Despite the challenges of managing HMOs, the survey revealed that nearly half of the properties were self-managed by landlords.

The most ...

The European Central Bank cut its central bank rate on 6th June. It is the first cut in nearly 5 years and ahead of the US which, like the UK, is yet to reduce rates.

For the UK, inflationary pressures have been easing. The latest ...

The average asking price of homes being listed for sale on Rightmove has climbed by 0.8% in the last month, to a new high of £375,131.

The top-of-the-ladder sector is driving price growth, with 4-bed detached and 5+-bed properties increasing 1.6% in the last month, ...

Rental growth has been high the last few years. Affordability is now increasingly critical and rental growth rates are expected to moderate.

UK annual rental growth is currently at 7.9%, however this has moderated slightly from highs of 10.4% in June 2023.

Renters paid an ...

We often think of great access to green space applying more to the countryside than built-up areas but there is a surprising amount of green space (parks, playing fields and other accessible green space) in our towns and cities with much of it within easy ...

The Easter Bunny is hopping into action this year, dropping off over 80 million easter eggs that are sold in the UK each year. That’s eggquvilent to almost 80 times the number of home sales that took place over the last year, at 1,011,280.

More ...

Indicative gross yields remain attractive in the rental market. Based on an analysis of apartments sold and rented in 2023, the indicative gross yield is 6.7%. This is up from 5.3% in 2021.

Yields are currently strongest in the North West (8.5%) and have risen ...

Roses are red, violets are blue, in the UK's property market, a perfect home awaits you.

Last year, over 1,300 homebuyers sealed the deal on Valentine's Day, with an average sold price of £364,655, 4% more than across the rest of the year.

In the ...

Mortgage borrowers on fixed rates have already escaped the worst of the interest rate rises and the direction of travel for rates is currently downwards.

But 1.5 million homeowners will come to the end of their fixed-rate mortgage deals in 2024 and at the moment ...

Looking across the average of published house price forecasts, UK house prices are expected to soften marginally in 2024 (by an average -2.1%). Renewed price growth is expected to be evident in 2025, with prices forecast to rise by 3.0%.

While perhaps not sufficient to ...

The weather may be cold but there is plenty of heat in Christmas-related street names! Topping the list is North Pole Road in Maidstone with average prices of £607,500.

Snow Hill, Turkey Street and Gingerbread Lane have all exceeded the current national average house price ...

The season of gift giving is upon us. The UK plans to spend a total of £27.6 billion on Christmas gifts in 2023, up 37% from £20.1 billion in 2022.

Unwrapping the data, that's just over one quarter (27%) of the total amount spent on ...

The demand supply imbalance in the rental market remains, with 17% of agents reporting that renters often offer above the asking rent, while 44% said that they sometimes do.

The average UK rent is £1,279, up 8.9% annually, but there has been a monthly fall ...

The green belt is a town planning policy designed to prevent urban sprawl, protect the countryside and direct development to the most sustainable locations. Green belt surrounds most major cities and extends around 5–10 miles from the edge of the built-up areas, protecting small satellite ...

Halloween is big business and the UK is projected to spend over £1bn with more than 56% of the population taking part in the fun. Gen Z is expected to spend the most with 87% planning to spend £46 each.

Some places are spookier than ...

Interest rates are deemed to be at, or close to their peak so any improvement should start to lift sentiment. For the rest of 2023, expect continued low sale volumes and some price volatility but spring 2024 could mark an upturn.

Whilst one more 25bp ...

The number of mortgage products available has risen to 5,338, its highest level since February 2022, and more than double the availability seen in October 2022.

The average shelf life of a mortgage deal has stabilised, increasing to 15 days, up from lows of 12 ...