Comment on how latest Rightmove data shows asking prices double the long-term average

September 16, 2024

Commenting on how the latest Rightmove data shows how asking prices are double the long-term average, Tom Brown, Managing Director, Real Estate at Ingenious, said: “Today’s data shows that the resilience and appeal of the UK property sector persist. Though we have seen higher inflation and sticky borrowing rates, we welcome the BoE’s recent rate cut and what will hopefully be the start of the much needed falling rate cycle.

“There’s clearly a significant and notable shortage of housing inventory across various price brackets and locations. Consequently, any decline in homeowner sales is likely counterbalanced by increased demand from renters and investors. This is a trend that is not going away. However, it’s crucial to recognise that the situation isn’t consistent nationwide or across different property pricing brackets. It’s helpful to delve into subsectors and regional dynamics when assessing opportunities, as a broad market view can be misleading. In the real estate sector, we’re seeing significant investment capital for assets for long-term rental. On account of their scale and buying power, these typically institutional investors face fewer disruptions than owner occupiers or small-scale Buy-to-let investors.

“At Ingenious, we continue to work closely with borrowers and investors, adapting to the dynamic market landscape and broader economic shifts, including those related to the climate crisis and changing lifestyles. We are expanding the reach of our development lending product to provide extended stabilisation terms for specialised developers in the rental sector. Furthermore, we’re introducing special lending terms for developers focused on reducing embedded carbon in their construction practices.”

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Two in five mortgage holders switched banks for a better mortgage deal

Of those who have a mortgage and switched banks, 41% did so to get a better mortgage rate deal and 30% did it to receive an incentive related to their mortgage Only 15% of people moving home switched their bank account during the move, while far more switched broadband (46%), energy (38%), and mobile phones…
Read More →
Breaking News

Housing market trends highlight a changing landscape

The housing market has seen many challenges across the year to date and, in many ways, the property landscape has been a year of two extremes already.   At the start of the year, there was a quiet but optimistic consumer confidence in the air.   However, with the global economy impacting almost every aspect…
Read More →
Breaking News

Mortgage rate rises loom as major lenders reprice

Major lenders have moved to increase mortgage rates to catch up with recent rises to swap rates, according to Moneyfactscompare.co.uk analysis.   Over the coming days, more lenders are expected to review mortgage rates in response to higher swap rates, with HSBC and NatWest so far the biggest banks to increase rates since the start…
Read More →
Breaking News

Average house price edged down in August

House prices in August 2026 were -0.4% lower compared to the same month a year earlier.   Average house price edged down in August as market remains subdued • House prices fell slightly in August ( -0.2%), following a -0.1% decrease in July • Average property price now £298,468 compared with £299,153 in July •…
Read More →
Estate Agent Talk

A derelict property will still set you back £240,000

The latest data from LandSale, the property portal dedicated to land and rural property, reveals that buyers looking to breathe new life into a derelict property could face an asking price as high as £237,500 on average, highlighting the substantial value still attached to redevelopment opportunities across Britain.   Britain continues to struggle with a severe…
Read More →
Estate Agent Talk

Selling an Inherited Property in Scotland: A Clear Guide

Selling an inherited property in Scotland can begin only once confirmation, the Scottish equivalent of probate, has been granted by the court. Until that legal authority is in place, the executor cannot complete a sale, so grasping the sequence early saves later frustration. Families who would rather not manage a long marketing process sometimes approach…
Read More →