Stockport Property News

As 2024 comes to a close, we reflect on the improvement in the housing market since the start of the year. More positive underlying economic and financial drivers of residential prices have been critical to that change.

At the start of the year interest rate ...

Around 7 million Christmas trees are grown in the UK every year. Growing that many festive firs takes about 2,240 hectares of land, equivalent to 120,000 average-sized UK gardens.

Approximately 75% of the trees sold in the UK consist of Nordmann Fir, with the remaining ...

Housing market confidence improved during 2024, on the expectation of interest rate cuts. Even though the latest cut did not flow through to fixed rates, it gave a further boost to sentiment.

Consensus forecasts for price growth are 3.4% in 2025 and 4% in 2026....

There was a clear switch in sentiment towards longer term objectives. The Chancellor was clear that all eyes should be on the next 10 years, not just the next 5.

Leading into the Budget, business and consumer confidence indicators took at hit as the Chancellor ...

Falling mortgage rates are helping boost sales levels. There were 332,200 sales agreed across the UK in Q3 2024, 23% above the same period last year.

While 2023 was a low base to compare with, Q3 2024 sales were also 7% ahead of the same ...

Despite the September fall in consumer confidence, levels remain well above the lows of 2022. This recent faltering is likely short-term, due to concerns over the Budget.

There is a strong historic relationship between consumer confidence and house prices.The fall in confidence might well limit ...

House prices edged up 0.3% in August, with annual growth rising to 4.3%, the fastest pace since late 2022. However, this is partly due to the comparison with weaker growth this time last year.

Buyer confidence has been boosted since the Bank of England rate ...

With the confirmation of Labour’s plans to require all rented properties in England to have a minimum EPC rating of C by 2030, we look at what this means for the rental sector.

In the last 12 months, just 56% of property rentals were in ...

The government announced plans to impose VAT on private school fees to fund improvements in public education.

The current exemption from value-added tax (VAT) will be removed to fund 6,500 new teachers in England. VAT at the standard rate of 20% will be added to ...

The RICS net balance indicator reports the balance of surveyors expecting a price rise versus a price fall. It tends to accurately predict price trends 3 to 6 months ahead.

The RICS indicator had been consistently improving since September 2023 but fell back slightly in ...

Mortgage borrowers continue to prefer the certainty of fixed mortgage rates.

The data does show a slight retreat from fixed mortgages, down from a peak of 95.5% in September 2022.

These high proportions are quite different from the pre-Global Financial Crisis when a much lower ...

As many start to think about the end of term and summer holidays, letting agents are gearing up for a busy few months. Around a third of all new tenancies for the year will start in the next 3 months.

On average, a third of ...

Some may fear an election could pause market activity, but this was typically when a significant policy change was mooted (e.g. Mansion tax). This isn't the case this time round.

Housing transactions move in seasonal patterns with peak activity usually July or August. The delay ...

There is a strong presence of cash buyers in the market. 35% of sales in Great Britain are currently cash, compared to 30% the same month the year before.

The proportion of cash buyers has risen in all regions over the last year, with the ...

The 44th London Marathon is taking place on Sunday 21st April. Around 50,000 people are expected to take part in the 26.2 mile trek around the capital.

The elite men’s and women’s able-bodied and wheelchair races will each have a prize pot of £243,000 with ...

Energy Performance Certificates (EPCs) continue to be the main method of determining how energy efficient a home is. Each certificate provides a rating from A to G reflecting the current energy performance as well as a potential rating if improvements were to be made.

EPCs ...

Glasgow has topped the list of cities with the biggest increase in the number of buy-to-let properties over the past year, with a 12% rise. Nottingham and Leeds came in second and third place respectively, both with growth of over 8%.

In spite of the ...

In the past five years (excluding 2020 due to Covid), springtime bloomed with 27% of home sales, the highest proportion of any of the four seasons.

During spring, properties found new owners in an average of just 51 days, significantly quicker the 61-day winter average....

The number of first-time buyers (FTBs) over the age of 50 has grown by over 30% in the past five years, while the proportion of those aged 30 and under is in decline.

Stretched first-time buyer affordability means that we are seeing more people waiting ...

Just one quarter (24%) of landlords intend to increase rents in 2024, while 68% intend to maintain them at current levels and 8% plan to reduce rents.

Rents have risen rapidly over the past few years. With an average increase of £135 extra per month ...