Salford Property News

  • Sales price snakes and ladders

    Dewi Dewi Jones May 22, 2024, 13:00 PM

    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, ...

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  • Market outlook: Rents, moderation required

    Dewi Dewi Jones May 3, 2024, 14:00 PM

    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 ...

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  • Uncovering urban green spaces

    Dewi Dewi Jones Apr 12, 2024, 15:00 PM

    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 ...

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  • Easter Eggstravaganza

    Dewi Dewi Jones Mar 25, 2024, 15:00 PM

    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 ...

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  • Yields rise across all regions

    Dewi Dewi Jones Feb 22, 2024, 15:00 PM

    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 ...

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  • Hearts & homes

    Dewi Dewi Jones Feb 7, 2024, 14:00 PM

    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 ...

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  • Mortgage lending metrics

    Dewi Dewi Jones Jan 22, 2024, 10:00 AM

    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 ...

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  • Medium-term outlook for UK housing market

    Dewi Dewi Jones Jan 5, 2024, 13:00 PM

    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 ...

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  • Days of Christmas | Stop here, Santa!

    Dewi Dewi Jones Dec 18, 2023, 10:00 AM

    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 ...

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  • Days of Christmas | 'Tis the spending season

    Dewi Dewi Jones Dec 9, 2023, 13:00 PM

    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 ...

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  • Competitive offers – renters offer above asking rents

    Dewi Dewi Jones Nov 28, 2023, 16:00 PM

    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 ...

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  • Green belt

    Dewi Dewi Jones Nov 11, 2023, 10:30 AM

    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 ...

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  • Scary street names don't spook buyers

    Dewi Dewi Jones Oct 25, 2023, 11:00 AM

    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 ...

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  • Market outlook– modest falls typify the market with sentiment to improve

    Dewi Dewi Jones Oct 7, 2023, 10:30 AM

    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 ...

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  • More mortgage choices

    Dewi Dewi Jones Sep 21, 2023, 12:00 PM

    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 ...

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  • Mortgage approvals: a year in review

    Dewi Dewi Jones Sep 1, 2023, 14:00 PM

    Mortgage approvals lead trends in residential sales activity by around 3 months. As such, mortgage approvals will be a key leading indicator to monitor for more signs of market activity over coming months.

    The number of approvals has risen since the beginning of 2023 but ...

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  • Honey, I’m home

    Dewi Dewi Jones Aug 16, 2023, 14:30 PM

    World Honey Bee Day is on the third Saturday in August and brings a buzzing celebration for beekeepers, honey lovers, and all things blooming.

    Many home addresses feature bee related names. There are a buzzworthy 498 roads across the country that contain the word ‘Honey'....

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  • Path of interest rates

    Dewi Dewi Jones Jul 28, 2023, 11:00 AM

    Recent rapid rises in interest rates have left borrowers wondering where this will end. The current Bank Rate is 5%.

    In the short term there are expected to be further interest rate rises. The consensus of forecasts average at 5.6% for the end of this ...

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  • First finishers price it right

    Dewi Dewi Jones Jul 10, 2023, 12:30 PM

    Property prices have moderated and while demand remains across the market, sensible and realistic initial pricing impacts on sales success.

    Data from Rightmove indicates that properties that experience a price reduction are 10% less likely to go under offer. They are also on the market ...

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  • Housing supply: a ten-year retrospective

    Dewi Dewi Jones Jun 23, 2023, 10:30 AM

    Recently-released statistics on planning applications show a steady decline in major residential approvals across the country since the peak of 6,617 back in 2017. We now sit at 4,221 major residential approvals, the lowest in 10 years.

    On a more positive note, the number of ...

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About The Blog

This Blog looks at what is happening in the Salford and Eccles property market.  We report on events and community news along with investment ideas and tips for those loosing to invest in the area.

Dewi Jones - Editor

 

Dewi

 

Salford is fast becoming one the most exciting areas of development in North West.  If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience and local knowledge to help.

 


T: 0161 707 4745
E: [email protected]

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