Breaking News
Breaking Property News 18/11/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Streamlined digital ID and source of funds checks means conveyancers can focus on conveyancing. Client due diligence platform Thirdfort has partnered with UK-based legal technology startup ProConvey. Launched this week, the partnership integrates client onboarding and due diligence into a single workflow, making the onboarding…
Andrew Stanton
Bank Rate cuts boost optimism for 2025 despite Budget pause
Average new seller asking prices drop by 1.4% (-£5,366) this month to £366,592, a bigger fall than the usual, seasonal 0.8% drop seen at this time of year, likely due to pre- and post-Budget jitters However, despite the dampening effect of the Budget, market activity remains stronger than last year as Bank Rate falls: The…
Rightmove
How to market to Estate Agents UK
The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
EAN Content
Breaking Property News 15/11/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Digital transformation of real estate drives profitability Press Release – London 14th November 2024 – Following the October budget, estate agents across the UK are seeking new ways to adapt to an evolving property market. Rising costs and shifting buyer expectations have driven a need…
Andrew Stanton
Zoopla reveals most affordable towns in Britain
With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
EAN Content
Rightmove’s weekly mortgage tracker 13/11/24
The current average asking price of a typical first-time buyer property is £227,570. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,087 per month if repaying over 25 years, compared with £1,187 per month a year ago (when the average first-time buyer property asking price was…
Rightmove
Renters seek fixer-uppers, with over £40,000 cheaper price tag
A consumer survey from Rightmove of over 34,000 home-movers has revealed that 68% of renters are eager to take on fixer-uppers to help get on the housing ladder, compared to 54% of home-owners A study of available fixer-upper properties on Rightmove reveals that homes in need of renovation are 12%, or £44,634 cheaper than the…
Rightmove
Breaking Property News 11/11/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Navigating new legislation in the Lettings sector Paul Starkey, technology and property industry veteran and also advisor for Symple, gives his take on how to better monetise lettings operations. ‘During a housing crisis, the last thing the UK needs is a subsequent catastrophe in…
Andrew Stanton
Areas in England with the best value for house prices and education, according to new research
Kingston upon Hull has the highest combined score of 75.30 out of 100 for bothhouse prices with adequate value and ‘outstanding’ schools Three Rivers is in second place with a score of 73.73, while Preston takes third place with a score of 72.66 The study created scores by determining areas with relatively low house prices…
EAN Content
A third of UK homes for sale are ‘chain-free’ reports Zoopla
Recent tax changes and incoming council tax premiums for second homes have unsettled property investors and second homeowners with some now looking to sell One week on from the Autumn budget, buyer enquiries for homes that are chain-free are 33 per cent higher compared to those not advertised as chain-free 41 per cent of two…
EAN Content
Rightmove’s weekly mortgage tracker 06/11/24
The average 5-year fixed mortgage rate is now 4.66%, down from 5.33% a year ago The average 2-year fixed mortgage rate is now 4.92%, down from 5.76% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.40% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.91% a year ago The average monthly mortgage payment on a…
Rightmove
Nationwide House Price Index for October
Annual house price growth slows in October UK house prices rose 0.1% month on month in October Annual growth rate slowed to 2.4%, from 3.2% in September Headlines Oct-24 Sep-24 Monthly Index* 529.6 529.0 Monthly Change* 0.1% 0.6% Annual Change 2.4% 3.2% Average Price (not seasonally adjusted) £265,738 £266,094 * Seasonally adjusted figure (note that…
EAN Breaking News
Rightmove’s weekly mortgage tracker – 31/10/24
The average 5-year fixed mortgage rate is now 4.64%, down from 5.36% a year ago The average 2-year fixed mortgage rate is now 4.91%, down from 5.81% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.66%, down from 5.44% a year ago The average 60% LTV 5-year fixed mortgage…
Rightmove
Breaking Property News 31/10/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Labour’s first Budget – A missed opportunity for meaningful change A property industry insider view of the Autumn budget Rachal Reeves the new Chancellor of the exchequer unveiled a £40 billion taxation budget in her autumn statement. Reeves says it is a moment of ‘fundamental choice’…
Andrew Stanton
Rightmove reaction to the Autumn Budget
Tim Bannister, Rightmove’s property expert says: “Increasing stamp duty on additional home purchases by 2% means that, based on the average asking price for a home (£371,958), a landlord could face an additional charge of more than £7,000 from tomorrow when buying a property. In the short-term, some landlords may need to pause for thought, but…
Rightmove