Wilmay Investments

07/07/2024

07/07/2024

Realised I didnt ever post that our first flat in Aberdeen was fully refurbished an we have had a tenant in for 5 months now. Feels good but oh my did we learn a lot along the way!!!! hopefully the next one will be a smoother ride.

07/07/2024

re's commentary from the Property Industry Eye following Labour's successfull election campaign - 'In terms of housing, Labour has pledged to develop 1.5m homes, reform planning rules, prioritise development on brownfield and what it calls “grey belt” land. It wants to extend an existing scheme, which helps people get a mortgage with a smaller deposit and is backing more rights for renters.'

07/08/2023

Every UK region had rental price increases in July – Homelet Index
AUGUST 7, 2023 | EYE REPORTER

HomeLet has released its rental index figures for July 2023, showing UK average rental prices continuing to rise, even in the typically cheaper regions.

The average rent price in the UK for July 2023 was £1,243.

Excluding London, the UK average is now £1,037 per calendar month (pcm)

Every region has seen an annual rent increase, with Scotland showing the largest, up 15.8% since July 2022 to £973pcm

The North East of England is the cheapest area to rent in the UK, at just £636pcm.

Commenting on the latest data, Andy Halstead, HomeLet & Let Alliance Chief Executive Officer, said:

“July’s average rental price has now hit an astonishing £1,243, the highest average yet. This all-time high paired with every region of the UK seeing a month-on-month price rise is a concern for both tenants and landlords.

“We’re edging closer and closer to a situation in which a large portion of potential tenants are simply unable to live, which is a dangerous situation for the market to be in.

“It is worth saying that extreme rental prices does not equate to all-time high margins for landlords either!

“The North-East has been out of kilter with the rest of the UK in recent months with few price rises. However, July 2023 has seen even the North-East rise 1.8% to £636pcm.

“The nation-wide skyrocket in rent and mortgage increases is proof that no one is winning, when will it be put to a stop?

“At the other end of the country, London’s average rental price towering above £2,000pcm appears to now be the norm, a milestone that was only breached for the first time less than a year ago.

“Now hitting £2,109pcm, London’s crazy rental market is mirroring the UK as a whole and shows no sign of slowing down – the madness continues!”

03/07/2023

Housing prices in the UK hold firm despite the struggles of high interest rates, which just shows the resilience of property even in strong storms.

22/06/2023

Headline from Property Industry eye:
Interest rate hike expected today after UK inflation shock.

14/11/2022

This is a headline in the news today.
Funny how it correlates with the purchase of our first property in the UK last week. We have found a 1-bedroom flat in Aberdeen that needs a refurb.......................will keep you posted.

14/11/2022

House prices fall as ‘era of historically low interest rates and the buying frenzy’ ends

31/08/2022

According to PROPERTY INDUSTRY EYE today..................House prices are starting to fall – new figures show Residential property prices are falling across the UK, led by inner London where they have dropped by 10.4% in the last two months, representing a loss of £82,000 in average listing prices, new research from TwentyEA shows.
Many regions outside London are now seeing prices firmly starting to fall, with an average reduction in prices of 4.5% in the last month (c£17k or c£21k since June 2022).
The data provides a clear indication that there is a slowdown in the market, after months of property price growth.
“London has seen a significant drop in instruction prices, while the South East is closely behind (-9.8%), followed by Wales (-6.7%), Scotland (-5.6%), the East of England (-4.1%).

It is said to be a result of low consumer confidence because of the cost-of-living crisis, instability of the government and the increase in the supply of properties.

20/08/2022

20/08/2022

We have officially started our search................................have our sourcing agent Ben looking for our first UK refurb project.

27/07/2022

FROM THE PROPERTY EYE TODAY........
UK rents rose by the largest quarterly increase in 15 years – DPS
“The last 12 months of rent increases, including a significant acceleration during the last quarter, shows that the price of renting forms a substantial part in rising living costs across the country.
“A mixture of tenants moving back into cities, continued desire for larger rental properties with more space and a current shortage of properties of all types is causing rent prices to rise.
“Despite the current economic environment, many tenants still seem prepared to pay in order to secure a rental property.”
The organisation said that eight of the UK’s 12 regions experienced rent rises of more than 7% between Q2 2021 and Q2 2022.