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Jan 29, 2024

Energy-saving tips for your home

There are number of steps you can take that could help to reduce your energy bills, all year round. Rightmove look at both low and no-cost changes you can make right now, through to large-scale modifications that can help make your home more energy efficient. Take a look at some of their suggested changes which you can make to reduce your home’s energy usage: Changes you can make in your home for no cost Reduce the water temperature when washing clothes Use tumble dryers less Switch off appliances at the socket Closing your curtains and blinds Turning your combi boiler flow temperature down Turn down radiators Apply for a smart meter More energy-saving tips and home improvements to consider Look into getting a smart thermostat Check and compare energy-efficiency ratings when buying new appliances Get your boiler serviced in summer Finding and fixing draughts Insulating hot water tanks, pipes and radiators Choosing energy-efficient lighting Double and triple glazing Wall, floor and loft insulation Solar panels For tips and further steps to take, read the rest of this article from Rightmove HERE.

Jan 22, 2024

Why things are looking up for landlords in 2024

Ever since restrictions on tax relief on buy-to-lets were introduced in 2015, private landlords have been selling properties more than investing in them. A harsher tax and regulatory regime, until recently combined with soaring house prices, had pushed down yields.   As mortgage rates start to fall, rents are set to increase further, so financial pressure on landlords will ease, leading to higher yields. Spikes in renovation and repair costs, due to material shortages caused by the pandemic, are finally stabilising too. News source: The Times and The Sunday Times

Jan 15, 2024

What are the current UK mortgage rates?

In a Monday's Market News in December, we looked at interest rates being held and what it could mean for mortgages.  You can catch up on that market blog entry HERE. With further decisions being made in February, we look at what Rightmoves latest thoughts on the current UK mortgage rates are. Read an update from Rightmove by following the following LINK.

Jan 8, 2024

Record number of sellers come to market on Boxing Day

As predicted in our Mid-Monthly News last month, Boxing Day saw a hub of activity in the property market with a record number of sellers coming to market on Boxing Day according to Rightmove stats. They say, "Even before the new year began, some home-sellers started to get their 2024 moving. Just one day after Christmas, on Boxing Day, we saw a record number of homes listed for sale. More than 10,000 new properties came to market, which is the biggest number of new sellers in one day since 2011... Our mortgage expert Matt Smith says: “Unless things change, the signs are positive that lenders will reduce rates further over the coming weeks. Combined with the early-year bounce in home-mover activity we’re starting to see, lenders who price more competitively can expect growing interest from those looking to take out a mortgage soon.” To read the full article from Rightmove please visit this LINK.

Dec 18, 2023

Interest rates held at 5.25%: here’s what it could mean for mortgages

This follows the same decision as in September and November, when the Base Rate was held after 14 consecutive rises. With their mortgage expert Matt Smith's insight, Rightmove take a look at what this means for mortgages and what has happened recently to mortgage and interest rates. The next decision on interest rates will be announced at 12pm on 1st February 2024. To read the full article from Rightmove please visit this LINK.

Dec 11, 2023

Average asking price for homes in the UK drops by £7,000 in December

The average asking price for a UK home has dropped by almost £7,000 this month as sellers became more competitive as they fought to find a buyer for their properties. With prices expected to fall further in 2024, the property portal Rightmove has reported that the average new seller asking price fell by 1.9% month-on-month to £355,177. That is a drop of £6,966 compared with November. Prices usually fall in December because of seasonal factors, Rightmove said, but this month’s drop is bigger than the average decrease of 1.5% over the past 20 years. On an annual basis, Rightmove reported that new seller average asking prices are just 1.1% below a year ago, defying expectations of a steeper decline in prices during 2023. To read the rest of this article from The Guardian, please visit the following link: www.theguardian.com

Dec 4, 2023

What will happen to house prices in 2024?

'The housing market this year has been better than many predicted, with lower-than-expected falls in asking prices, and good levels of demand from home-buyers for the right-priced homes. However, rising mortgage and interest rates have stretched the affordability of many people planning to move. Our forecast a year ago was that average new seller asking prices would drop by 2% in 2023, and prices are currently 1.3% lower year-on-year. The average asking price of a home in Great Britain is now just above £362,000.' To read the rest of this article please visit the following link: https://www.rightmove.co.uk/news/articles/property-news/house-price-forecast-2024/

Nov 27, 2023

Leasehold and Freehold Bill starts progress through UK Parliament

The Secretary of State for Levelling Up, Housing and Communities Michael Gove, MP has stated it should be law by the time of the next General Election. It is clear now to the UK Government that the leasehold system is unfair and outdated, and liberating leaseholders forms a vital part of their long-term plan for housing and will deliver significant new rights and protections, slash unfair costs and crack down on exploitation. Read the rest of this article from Propertymark by visiting the following link: https://www.propertymark.co.uk/resource/leasehold-and-freehold-bill-starts-progress-through-uk-parliament.html