First time property

27/02/2024

Rightmove reports that asking prices have risen for the second consecutive month, with the most significant increases observed in London. I'm struggling to process this news.

15/02/2024

The most recent update from Rightmove's rental trends tracker shows that there has been minimal rise in rents over the past quarter. Nearly 25% of new listings have seen a reduction in their initial asking rent to secure a tenant, reflecting a growth in available properties and a softening in demand.

13/02/2024

The most recent figures from Halifax mirror those of Nationwide, indicating a continued increase in house prices. However, this trend is not uniform across all regions: the South East has experienced a decline of 2.3% in house prices over the last year (with ongoing downward pressure), whereas prices in the North and Midlands have seen an increase.

08/02/2024

The Institute for Fiscal Studies is urging the government to ease the pressure on landlords. They suggest several measures: "Lower the stamp duty surcharge (or even better, eliminate it), remove the limitations on mortgage interest relief, and overhaul the capital gains tax to apply only to actual increases in value." However, the IFS shouldn't expect these changes to happen anytime soon.

Stamp duty land tax, the tax paid on the purchase of a property, is among our worst and most damaging taxes.

06/02/2024

Zoopla's most recent housing price report reveals a surprising detail: since 2016, the price of apartments in London has only risen by 2%, in stark contrast to a 34% average increase for all types of properties nationwide. Is this an indication that it's the right moment to invest in London, anticipating a return to average growth rates? In my view, it's not time just yet, but that moment will eventually arrive.

The latest house prices and market trends with our House Price Index for January 2024. House price falls are slowing as more sales are agreed at the start of 2024.

01/02/2024

The monthly sentiment survey conducted among RICS members, known for its accuracy in predicting trends, indicates that buyer demand has reached a stable level, showing no decline, for the first time in almost two years. Additionally, the respondents anticipate that house prices will remain steady at their current levels.

RICS develops and enforces leading international standards to protect consumers and businesses, ensuring the highest level of professionalism. The regulatory functions of RICS relating to Standards and Professional Development are led and overseen by the Standards and Regulation Board (SRB).

30/01/2024

Once more, it appears that the government is contemplating a novel mortgage guarantee initiative, enabling first-time homebuyers to secure a property with merely a 1% deposit. This news emerges as we enter the initial phase of the election year - just think of the potential pledges they might make by the time summer arrives!

Exclusive: Treasury discussing bold move to help young Britons onto property ladder with only 1% deposits – but experts warn ‘short-term political fix’ could backfire

25/01/2024

According to Land Registry data, London's prices have experienced a 6% decline compared to the same period last year. Though this source tends to reflect changes with some delay, it still highlights a trend of decreasing prices in the South East, while in other areas, prices are maintaining much better.

The average London home has lost £26,000 in value in just two months, according to official data

23/01/2024

Rightmove observed a robust beginning to January, indicating a 1.3% hike in asking prices and a 20% surge in the quantity of sales agreed upon compared to the previous year. While it's not quite the return to "normal" (a concept that may be hard to recall), there's a noticeable rise in buyer confidence.

18/01/2024

HSBC latest lender to cut mortgage rates as experts predict 'others bound to follow suit'

The UK's average two-year mortgage rate fell to 5.92% on Wednesday, according to Moneyfacts. Both Halifax and Leeds Building Society slashed deals earlier this week.

16/01/2024

More than 70 local authority areas have seen average house prices rise over the last year, bucking the national trend, according to new research released by Halifax.

12/01/2024

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