Posts by Rightmove
Rightmove experts share rental predictions for 2024
New analysis from the UK’s biggest property website Rightmove looks at the most prominent trends expected in the rental market during 2024, with advertised rents predicted to be 5% higher by the end of 2024 outside of London, and 3% higher in London. Average advertised rents ended 2023 10% higher in the UK outside of…
Read MoreAverage 5-year fixed mortgage rate below 5% for first time since June
The average 5-year fixed mortgage rate is now 4.96% – the first time it has dipped below 5% since June 2023. Matt Smith, Rightmove’s mortgage expert said: “Rate cuts are gathering pace, as lenders jostle for position at the start of the year. This can only be good news for those looking to move home…
Read MoreRecord number of sellers come to market on Boxing Day and demand jumps by 273%
A new record number of sellers put their property up for sale on Rightmove on Boxing Day, a 26% increase on the previous record last year The number of buyers contacting estate agents about homes for sale jumped by 273% between the Christmas Day lull and Boxing Day, and was 17% higher than last Boxing…
Read MoreMortgages: A belated Christmas present of lower rates for movers
Matt Smith, Rightmove’s mortgage expert said: “It looks like lenders are likely to give early 2024 movers the belated Christmas present of lower mortgage rates. After the reduction in swap rates we saw before the holidays, this is now starting to filter through to mortgage rates now that the festivities are over and the working…
Read MoreRightmove’s weekly mortgage tracker – 20/12/23
Matt Smith, Rightmove’s mortgage expert said: “Yet another week – the 21st in a row – of marginal percentage point drops to mortgage rates is positive news for home-movers. Swap rates have also fallen further today following the early Christmas present of the lower-than-expected fall in inflation. The downward trajectory of swap rates has also…
Read MoreRightmove to launch next phase of ‘believe it’ campaign from Boxing Day
The next phase of Rightmove’s ‘believe it’ integrated campaign will begin from Boxing Day, to coincide with the post-Christmas and New Year upturn in home-moving activity. The multi-million pound, multi-channel campaign will continue throughout the first quarter of 2024, leading up to the spring selling season. In September Rightmove evolved its brand communications to highlight…
Read MoreWrexham is 2023’s busiest rental market with 56 enquiries per property
Wrexham in Wales is this year’s busiest rental location, with available rental properties in the area receiving 56 enquiries on average from prospective tenants in 2023, up from eight enquiries back in 2019 Redbridge in London is second on the list with an average of 49 enquiries per available rental property, and Tameside in Greater…
Read MoreBoxing Day Bounce: New properties to market triple since pre-pandemic
New Rightmove analysis ahead of the festive period reveals that the number of homes being listed by estate agents on Boxing Day has nearly tripled (+173%) since pre-pandemic 2019 Last year, a record number of new sellers came to market on Boxing Day, 46% higher than 2021 Sellers who list on Boxing Day are in…
Read MoreAverage 5 year fixed mortgage rate drops from 6.11% at peak to 5.07% – Rightmove’s weekly mortgage tracker
Matt Smith, Rightmove’s mortgage expert said: “No news is often good news when it comes to the mortgage market, and yet another week – the 20th in a row – of marginal percentage point drops is positive news for home-movers. Swap rates have also remained steady this week, but fell further on the back of…
Read MoreRightmove House Price Index: Signs of family movers returning as market stabilises
Average new seller asking prices drop by 1.9% (-£6,966) this month to £355,177. Prices usually fall in December due to seasonal factors, but this month’s drop is bigger than the previous 20-year average of 1.5% as sellers get more competitive The 2023 market was more resilient than many predicted as it continued its slow transition…
Read MoreRightmove’s weekly mortgage tracker – 06/12/23
The average 5-year fixed mortgage rate is now 5.11%, down from 5.36% a year ago The average 2-year fixed mortgage rate is now 5.52%, down from 5.61% a year ago The average 85% LTV 5-year fixed mortgage rate is now 5.20%, down from 5.37% a year ago The average 60% LTV 5-year fixed mortgage rate…
Read MoreRightmove Happy at Home Index 2023: Richmond upon Thames named happiest place to live by residents
The borough of Richmond upon Thames in London has been crowned the happiest place to live in Great Britain, followed by Winchester in Hampshire: It’s the first time a London location has topped Rightmove’s Happy at Home Index, now in its 12th year Monmouth in Wales takes third place, the first time an area from…
Read MoreRightmove 2024 forecast: prices to drop by 1% as competition increases among sellers
Rightmove predicts that average new seller asking prices will be 1% lower nationally by the end of 2024, as the market continues its transition to more normal levels of activity following the frenetic post-pandemic period. Motivated sellers are likely to have to price more competitively to secure a buyer in 2024, and agents will work…
Read MoreRightmove’s weekly mortgage tracker – 29/11/2023
The average 5-year fixed mortgage rate is now 5.14%, down from 5.52% a year ago The average 2-year fixed mortgage rate is now 5.56%, down from 5.77% a year ago The average 85% LTV 5-year fixed mortgage rate is now 5.22%, down from 5.54% a year ago The average 60% LTV 5-year fixed mortgage rate…
Read MoreRightmove launches course for agents to help compliance with CPRs
Rightmove has launched a brand new course for estate and letting agents, to help them understand and remain compliant with the Consumer Protection from Unfair Trading Regulations (CPRs). The course has been created with National Trading Standards Estate and Lettings Agency Team (NTSELAT) to make sure agents have all the information they need to…
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