Turning homes into short-term holiday lets could soon require planning permission if new government plans come into force. Conversion crackdown The motivation behind plans is to save residents from being pushed out of their towns, the government says. Specifically, the government aims to target the practice of ‘industrialising’ online rental platforms, whereby entire apartment blocks […]
Category archives: Mortgages & General Property News
Home Finance – In the news
Apartment sales drive recovery Agreed residential sales have returned to pre-pandemic levels for the first time since September 20221. The number of sales in March 2023 was only 1% behind March 2019, with the recovery largely driven by sales of apartments, which are now 10% above 2019 levels. In total, agreed sales remain 18% below […]
Housing stock high
The number of houses for sale has soared new figures show1, further strengthening the position of buyers. Supply surge? Ever since the pandemic days of frenetic buying, demand outstripping supply has been a familiar picture in the UK housing market. As interest rates have risen sharply in the past year, moreover, some potential sellers have […]
Mixed signals in housing and mortgage markets
Activity in the housing and mortgage markets is hotting up – and cooling down. According to the latest Residential Market Survey from the Royal Institution of Chartered Surveyors, a run of thirteen successive negative monthly readings for new instructions ended in May, marking the strongest reading for new listings since March 20211. Yet house prices […]
Where are house prices most protected?
In a housing downturn, not all cities and towns are equal. New research1 has highlighted which areas of the UK are the most resilient in the face of falling prices. On the slide In January, overall property prices fell for a fifth consecutive month, as the market continued to cool. Sliding prices have been brought […]
Green home improvements on hold
Homeowners are delaying improvements to the sustainability of their homes, according to the latest ‘Greener Homes Attitude Tracker’ from Natwest1, as cost-of-living difficulties remain. Cost-of-living delay More than a quarter of homeowners indicated they are less inclined to implement energy saving measures in the upcoming 12 months amid enduring financial concerns. In the three months […]
The risks of living without home contents insurance
One in five 18 to 24-year-olds plan to cancel their home contents insurance at renewal to save money, according to new research1. Risky game As well as highlighting current cost-of-living concerns, the statistic reveals a worrying picture for young people who plan to abandon protection. Home contents insurance can be a shrewd financial investment because […]
Tough times ahead for landlords?
More than two in five landlords are not aware of the proposed Renters’ Reform Bill, a new study1 has claimed, despite the impact it will have on their portfolios. Should landlords be worried? What could change? The proposed legislation, which is set to be voted on before May 2023, includes many significant elements. If passed […]
Home Finance – In the news
Buyers priced out Some 41% of participants in a recent survey1 agreed with the statement, ‘I cannot afford to live in the area I want or need to live in’. Many renters and homeowners alike were unhappy with their current location, with job opportunities (37%), proximity to friends and family (35%) and a better lifestyle […]
Equity release – on the rise again
An increasing number of older homeowners are choosing to release equity, latest figures1 reveal, with cost-of-living pressures still the main reason for tapping into the value of their home. Equity release allows over-55s to access some of the value of their home as tax-free cash. In total, homeowners used equity release to borrow £6.2bn in […]
