Residential Property Review June 2022

UK housing market – busy but slowing Following two frenetic years, UK housing market activity remains strong, despite some signs of a slowdown beginning to emerge. In April 2022, sales agreed were 18% higher than the month’s pre-pandemic average, according to TwentyCi. Completions too remained 13% above the 2017-19 rate. First-time buyers (FTBs) continue to … Continue reading “Residential Property Review June 2022”

Residential Property Review – April 2022

Supply shortages fail to blunt sales Low availability is once again the key trend in the UK housing market, even as stock levels edge upwards and sales remain strong. In March, estate agents reported a 3.5% monthly rise in the level of stock on their books, according to Zoopla. Moreover, the number of homes coming … Continue reading “Residential Property Review – April 2022”

Residential Property Review – March 2022

Sales up as demand stays strong 2022 has picked up where 2021 left off, with near-record demand leading to the busiest January and February since 2016, according to Zoopla. Sales agreed in February were 31% above the 2017-19 average for the month, according to TwentyCi, matching levels last seen at the start of 2021. Meanwhile, … Continue reading “Residential Property Review – March 2022”

Residential Property Review – August 2021

Transition to eco homes hotting up With climate issues becoming ever more urgent, policymakers and the housing industry are increasingly turning their attention to sustainable property development. Making homes greener will play an important part in the UK’s efforts to achieve net-zero emissions by 2050: new and existing homes together account for 20% of the … Continue reading “Residential Property Review – August 2021”

Residential Property Review – July 2021

Building Safety Bill published Claiming “the biggest changes to building safety in nearly 40 years“, Housing Secretary, Robert Jenrick, said that the Building Safety Bill will set out a clear pathway for the future as to how residential buildings should be constructed and maintained. The Bill was published on 5 July to set out new … Continue reading “Residential Property Review – July 2021”

Half-price houses? The First Homes scheme launches

The new First Homes scheme is now being piloted in Bolsover and will be rolled out across England from the end of June. It offers first-time buyers – and key workers especially – the chance to buy locally and affordably. However, some parts of the UK will remain much more affordable than others. First-time buyers … Continue reading “Half-price houses? The First Homes scheme launches”

What is the First Homes scheme and how does it work?

The First Homes scheme is a new policy that will provide discounted homes to first-time buyers in England who otherwise wouldn’t be able to afford one. More specifically, under this scheme, first-time buyers will be able to purchase a new-build home in their community at a discount of 30% on the market price. For an … Continue reading “What is the First Homes scheme and how does it work?”

Seven deadly mortgage sins to avoid

Many people were expecting that house prices would fall during the pandemic, or at least stagnate. Indeed, a lot of first-time buyers were wistfully hoping that it might happen. But the government didn’t want a property crash on top of everything else, so introduced the stamp duty holiday to buoy up the market and protected … Continue reading “Seven deadly mortgage sins to avoid”

Residential Property Review – May 2021

Queen’s Speech is ‘significant‘ for housing market A key announcement in the Queen’s Speech on 11 May was a new Planning Bill, which aims to simplify and speed up the planning process using a digital, map-based service, allowing more active public engagement in the development process. The reforms should allow homes, schools and hospitals to … Continue reading “Residential Property Review – May 2021”

Taking on the challenge of a self employed mortgage

Self-employed people still face an uphill struggle in mortgage applications, but help is at hand. Though some lenders have tightened their criteria, others are working with mortgage brokers to encourage buyers with complex incomes. If you run your own business, work as a contractor or earn through freelancing, then you’re disproportionately more like to have … Continue reading “Taking on the challenge of a self employed mortgage”