Residential Property Review – June 2021

Renting less expensive than buying a property Research from estate agency Hamptons, suggests that renters are better off than buyers for the first time in five years. The study found that, just prior to the pandemic in March 2020, the average buyer with a 10% deposit was better off than renters by £102 per month. … Continue reading “Residential Property Review – June 2021”

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”

Residential Property Review – April 2021

Spring sees the busiest ever housing market Growing optimism due to the vaccine rollout, the return of low-deposit mortgages and the Stamp Duty holiday extension for England and Wales, have contributed to make this spring the best time to be a property seller in a decade, according to property website Rightmove. The online property portal … Continue reading “Residential Property Review – April 2021”

Residential Property Review – March 2021

Stamp Duty holiday extension In his Budget on 3 March, Chancellor Rishi Sunak confirmed an extension to the Stamp Duty holiday in England and Northern Ireland. Rather than ending on 31 March, as originally announced, the nil-rate threshold for Stamp Duty will remain at £500,000 until 30 June. The extension means that buyers will save … Continue reading “Residential Property Review – March 2021”

Residential Property Review – February 2021

House price growth slows Several recent reports have confirmed that house price growth is slowing, but there are reasons to believe that the housing market will be more stable than last year. According to Knight Frank, the third lockdown and the imminent end of the Stamp Duty holiday have played a major part in delaying … Continue reading “Residential Property Review – February 2021”

Residential Property Review – January 2021

Momentum in residential market expected to slow The UK residential property market closed 2020 with a bang, with Nationwide reporting annual house price growth of 7.3% in December – a six-year high. In its December UK Residential Market Survey, however, the Royal Institution of Chartered Surveyors (RICS) has pointed to evidence that momentum is starting … Continue reading “Residential Property Review – January 2021”

How will house prices move in 2021?

Having hit an all-time high in December 2020, UK house prices once again stand on the brink of uncertainty. Will the fall, rise, stay the same – or something else? Despite being one of the most economically turbulent years in living memory, 2020 ended with UK house prices – almost incredibly – at a record … Continue reading “How will house prices move in 2021?”

Residential Property Review – December 2020

Positive start for property market in 2021 The property market is expected to start 2021 with a bang, according to experts. Low interest rates, combined with the imminent expiry of both the existing Help to Buy scheme and the Stamp Duty holiday, mean that the market is expected to be busier than ever going into … Continue reading “Residential Property Review – December 2020”

90% mortgages are back – but there’s a catch

First-time buyers can once again get on the property ladder with a deposit as low as 10%. However, the interest rates they now face may exceed 5%. Are there still affordable first mortgages out there? After several months being shut out in the cold, first-time homebuyers can now borrow up to 90% of the value … Continue reading “90% mortgages are back – but there’s a catch”

UK catches the property auction bug

Are Brits abandoning the estate agent for the auction house? This year nearly 40% more property by value has been sold at auction, compared to 2019. Leading provider Auction House has enjoyed a record October performance, having shifted £65m worth of property in that one month alone, while John Pye Property saw transactions more than … Continue reading “UK catches the property auction bug”