Breaking News
New wave landlords: Under 35s driving property market by prioritising investment over homeownership
New expert insight shows that younger people (25-34 year olds) are investing in property at record levels and are opting to invest in property over purchasing their own residential homes. Leading estate agents John Minnis say that an increasing number of young people are investing their earnings, working capital and inheritance in property more than…
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Zoopla reveals the fastest moving UK markets as over half of homes in England and Wales sell within two months of listing
Homes in England and Wales spend an average of 36 days on the market, with 52 per cent selling within the first two months of listing Homes in affordable regions, like the North West and North East, are selling the fastest, with Manchester, Carlisle, Stockport, Gateshead, Newcastle upon Tyne and Halton in the top ten…
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Rightmove House Price Index: New record asking price with resilient activity despite stamp duty increase
The average price of property coming to market for sale rises by 1.4% (+£5,312) this month to a new record of £377,182. This is a larger-than-usual April price increase, despite a decade-high number of homes for sale for the time of year A snapshot of the post-stamp-duty-increase market suggests movers are carrying on and have…
Rightmove
COVID five years on: City and coastal trends reverse as homes by the sea take longer to sell
Rightmove’s new report looks at how the market has changed five years on from the pandemic starting Many city and coastal trends have now reversed, with homes near the sea taking three weeks longer to sell compared to 2020, and the majority of buyers in the capital looking to stay rather than leave London A…
Rightmove
Halifax House Price Index – Average UK house price falls in March
• House prices fall by -0.5% in March (vs -0.2% in February) • Average property price now £296,699 (compared to £298,274 in previous month) • Annual rate of growth remains at +2.8%, unchanged from February • Northern Ireland sees house prices rise at fastest pace (+6.6%) Amanda Bryden, Head of Mortgages, Halifax, said: “UK house…
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Majority of Tenants Unsure How Changes Will Affect Them, Says LRG
With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
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Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords
Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
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Breaking Property News 02/04/25
Daily bite-sized proptech and property news in partnership with Proptech-X. Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Andrew Stanton
Nationwide HPI – Annual house price growth steady in March
Annual rate of house price growth remained stable in March at 3.9%, unchanged from February Northern Ireland remained the top performing area, with annual price growth accelerating to 13.5% London weakest performing region, with 1.9% year-on-year rise Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house price growth remained stable in March…
EAN Breaking News
Tenants and landlords must be aware of new electrical safety standards in Northern Ireland
Propertymark has urged tenants and landlords in Northern Ireland to be aware of new electrical safety standards that begin on 1 April 2025. On 19 November 2024, the new regulations were approved by the Northern Ireland Assembly in response to a public consultation throughout September 2023. From 1 April 2025, the regulations introduce the responsibility for…
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End to rent adjudication measures in Scotland
Letting agents across Scotland will welcome the news that the temporary rent adjudication measures end on 31 March 2025. The Cost of Living (Tenant Protection) (Scotland) Act 2022, which temporarily protected tenants by controlling rent, limiting evictions, and setting up rent review measures, ended on 31 March 2024. However, some of these measures were extended…
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Propertymark comments on Stamp Duty threshold changes
Commenting on the Stamp Duty threshold changes commencing from tomorrow, 1 April, Toby Leek, President of NAEA Propertymark, the leading professional body for estate agents, said: “There will be many people completing on the sale of their home today to save potentially thousands of pounds from tomorrow onwards. “Some will also be disappointed that they…
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Rightmove comment on mortgage market and mortgage rates update
Matt Smith, Rightmove’s mortgage expert says: “As stamp duty deadline day arrives, average mortgage rates have remained steady since last week’s Spring Budget and unexpected drop in inflation rate. The lowest available mortgage rate is still a 2-year fixed deal at 3.86%, for those with the largest deposits, as the short-term outlook for rates remains…
Rightmove
Surging rents for students – one of many ‘unintended consequences’ of the Renters’ Rights Bill
In London, there are brand new high-end developments at Kings Cross that are used by many students. But a London-based landlord tells Propertymark that though many of their student renters have never defaulted, they do have concerns about the unintended consequences that the Renters’ Rights Bill could have on the student lettings market. “It is…
EAN Breaking News
Bank of England Money and Credit Report – February 2025
Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased by £0.9 billion, to £3.3 billion in February,…
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