Breaking News
Number of rental enquiries still double pre-pandemic, as rents predicted to rise 3%
The average number of enquiries sent to agents about each available property they have to rent is still nearly double the level it was in 2019, despite improvements in the balance between supply and demand: Each available property receives an average of 11 enquiries, nearly double the 6 at this time in 2019 This is…
Rightmove
Response to the Bank of England interest rates decision
Response to the Bank of England interest rates decision, thoughts from the Industry Rates were left unchanged at 4.75% MPC voted 6 to 3 in favour of holding rates flat, with three members preferring to cut rates by 0.25% to 4.5% In the near-term inflation is expected to “continue to rise slightly” The market was expecting rates to remain…
EAN Breaking News
Rightmove reaction to Bank Rate hold
Matt Smith, Rightmove’s mortgage expert says: “In a rollercoaster year for the mortgage market, we end the year with a hold in the Bank Rate at 4.75%. “While not the early Christmas present that many would have wanted, it was widely anticipated, and must be considered against a backdrop of inflation being at the top end…
Rightmove
Rightmove unveils new marketing campaign
Rightmove is launching a new marketing campaign from Christmas Day, just ahead of the Boxing Day bounce and New Year jump in home-mover activity. The new campaign is called ‘If they can find it, so can you’. It communicates that, with the UK’s largest choice of homes, everyone can find a home that fits their…
Rightmove
Zoopla research: Recent homemovers spent an average of nine years in their previous home
The data shows two peaks in seller activity over the last 18 months, those who bought just before the Global Financial Crisis and those who bought just before or during the pandemic. Homeowners in smaller homes outgrow them quickly spending nine years in a two-bed flat vs 13 years in a larger home Sellers in more affordable…
EAN Content
Private rent and house prices, UK: December 2024
Main points Average UK private rents increased by 9.1% in the 12 months to November 2024 (provisional estimate); this is up from 8.7% in the 12 months to October 2024. Average rents increased to £1,362 (9.3%) in England, £772 (8.0%) in Wales, and £980 (6.5%) in Scotland, in the 12 months to November 2024. In…
EAN Breaking News
Halifax UK Housing Market Review And Outlook For 2025
UK housing market beat expectations in 2024, with recovery supported by lower mortgage rates and strong wage growth Property prices hit a record high of £298,083 following annual growth of +4.8%, with transaction volumes returning to pre-pandemic levels Affordability has improved but continues to be a challenge for many buyers, with a decline in interest…
EAN Breaking News
Foxtons Lettings Market Index – November 2024
Steady demand and rising supply shape London rental market in 2024, Foxtons data shows In November, applicant demand remained strong, with applicant demand 1% higher in November 2024 compared to November 2023. There were over 30,000 new listings coming to the London market, according to Foxtons’ analysis of Zoopla’s data. This is the same amount…
EAN Breaking News
Breaking Property News 16/12/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Fine & Country Richmond toasts half a decade of selling some of the most exclusive homes in Surrey Fine & Country Richmond is thrilled to mark its fifth anniversary, a significant milestone that reflects the agency’s rapid growth and commitment to excellence in the…
Andrew Stanton
Tenancy Preferences Shift Amid Economic Uncertainty: Stability Gains Appeal
In the face of ongoing economic challenges, both tenants and landlords are reassessing their approaches to rental agreements. The latest Lettings Report from Leaders Romans Group (LRG) indicates a growing preference for longer-term tenancies, as both parties seek greater security in an unpredictable market. The report reveals that 44% of tenants and an equal percentage…
EAN Breaking News
Landlord Licensing Plan a Costly Waste of Time and Money
Responding to government plans to make it easier for councils to introduce landlord licensing schemes, Chris Norris, Policy Director for the National Residential Landlords Association, said: “It makes no sense that whilst planning to create a national database of private landlords, the Government now wants to make it easier for councils to license landlords as…
EAN Breaking News
Nationwide House Price Review and Outlook for 2025
Housing market resilient despite ongoing affordability challenges Housing market activity proved resilient in 2024 despite ongoing affordability challenges House prices to see growth broadly in the range of 2% to 4% in 2025 Looking back at the housing market in 2024 and what we can expect in 2025, Robert Gardner, Nationwide’s Chief Economist, comments: “Mortgage…
EAN Breaking News
Planning Reform Working Paper
Development and Nature Recovery – legal experts say there is plenty here that needs to be carefully thought through Given the Government’s commitment to getting Britain building again and subsequent release of its planning reform working paper yesterday, the Government is proposing to speed things up for developers operating in areas impacted by diffuse water…
EAN Breaking News
Increased activity in the mortgage market anticipated in 2025
UK Finance has today published its housing and mortgage market forecasts for 2025 and 2026 together with projections for 2024 full year numbers. 2025 forecast figures With rate and cost pressures continuing to ease, the outlook for 2025 is for a gradual improvement in mortgage affordability, feeding into market growth. As interest rates tick down,…
EAN Breaking News
Rightmove House Price Index: Usual seasonal lull, as some movers wait for Boxing Day bounce
Usual seasonal lull, as some movers wait for Boxing Day bounce New seller asking prices drop by a seasonal 1.7% (-£6,395) this month to £360,197, in line with the usual December monthly fall, with sellers’ pricing power diminishing as Christmas approaches: Prices end the year 1.4% above December 2023, and Rightmove predicts that new…
Rightmove