Spooky street names
Halloween is a monster of a market, with spending in the UK expected to creep up to a spine-chilling £776 million in 2024. It would also seem that some home movers like a hint of Halloween magic in their everyday lives. Roads named ‘Broom Water’ have averaged £3.5 million this year, followed by ‘Cauldron Meadows’ […]
Housebuilding: driver of economic growth
The Government’s housebuilding target to build 1.5 million homes in their first five years is viewed as critical to solving the country’s housing crisis. But as well as tackling the lack of supply and affordability constraints, building new homes has many wider economic benefits. The Home Builders Federation (HBF) estimate that home building delivers over […]
Price pressure – cities with lowest and highest rents
St Albans tops the list as the most expensive city in the UK to rent outside of London, paying an average £2,307 per month, 71% above the national average. As students prepare to start a new academic year, many university cities have seen five-year rental growth of over 40%. Students’ study choices and graduates’ decisions […]
More days in the office affecting buyer preferences
The way we work changed dramatically through Covid and whilst it seems clear that hybrid work patterns are here to stay, latest rail usage data suggests more of us are going into the office more often. For the first time since 2020, rail usage is virtually back to pre-covid levels (at 98% of pre-covid levels). […]
Mortgage rates fall
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 August, to 5.77% and 5.38% respectively. Mortgage rates are widely […]
Interest rates: Bank of England cuts rates to 5%
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 welcome news to homeowners with variable mortgage rates – or […]
The Olympic Legacy
As we await the opening of the Paris Olympics, it’s a fitting time to look back on the legacy achieved since the London 2012 Olympic Games. The London games cost £8.8 billion to stage but had already delivered £14.2 billion in economic value by 2014, with sustainable long term outcomes for the community. Queen Elizabeth […]
Who, How and Why of HMO investors
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 common HMO portfolio size was the smallest, with 34% having […]
Market outlook: Interest rate cuts
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 data for April showed the headline CPI rate at 3% […]
Sales price snakes and ladders
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, ascending higher than the first-time buyer and second stepper segments. […]