Understanding the nuances of property sales is essential for both homeowners and investors in the dynamic Harrogate property market. A few weeks ago, I stated that of the Harrogate properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 61 days to sell. Now time has moved on, looking at the Jan, Feb and March Harrogate house sales, this has slightly increased, so now … The average Harrogate home in Q1 2024 was on the market for an average of 65 days before agreeing on a sale. This change, though minimal, is noteworthy against the bac ..read more

In the articles on the Harrogate property market, we like to provide an insight into the real story of what is happening in our Harrogate (and national) property market and address the misconceptions that some of the ‘doom monger’ media have been spreading. Despite almost daily reports of a housing market crash since September 2022, the data shows that the British (and Harrogate) property market is doing OK. So, let’s dive into the stats and start with the lifeblood of the housing market – new properties coming onto the market. Nationally, 444,668 UK properties came onto the market in Q1 2024 ..read more

Many Harrogate people I talk to in their late 30s to late 40s are relying on the inheritance from their baby boomer generation parents to help­ them in their home-buying and retirement future. It is true there is £2 trillion (£2,040,861,524,790 to be exact give or take a few pennies) tied up in equity in the property of everyone in the UK who is aged 65 years and older (to add context to that the NHS costs £181 billion per year, well under a tenth of the equity tied up in property). With additional investments in stocks and shares including buy-to-let properties of around £2 trillion to £3 tri ..read more

In the lively tapestry of our UK property market, each region stitches its own colourful thread, offering a fascinating snapshot of our nation’s diversity – especially when it comes to the average rent prices. In 2024, it’s London that’s still dancing to its own fast-paced rhythm with an eye-watering average rent of £2,872 per month – a figure that, let’s be honest, has most of us gasping! Not too far off, the South East is keeping up with £1,581 per month, perhaps riding on the coattails of the capital’s vibrancy. And then there’s East Anglia and the South West, holding their own at £1,359 a ..read more

Whether you are a Harrogate landlord looking to liquidate your buy-to-let investment or a Harrogate homeowner looking to sell your home, finding a buyer and then getting the legal work done can take a frustratingly long time.   It is a step-by-step process that can take many months.   One of the worst parts of house selling is not knowing how long you might be stuck at each step. Independent research shows that, in the last 12 months, every estate agent in the UK has taken on average, 67 days from the property coming on the market to be sold subject to contract (STC) and then 113 day ..read more

As a practised estate and lettings agent based in Harrogate, we like to monitor the Harrogate property market, compare it to the UK property market, and then share it with Harrogate homeowners and landlords. For February 2024, the UK property market has seen a continuation of the solid start in the first month of the year. Therefore, in this article, we want to see if that national trend mirrors or differs from the local market in Harrogate. In the first nine weeks of 2024 (up to the 3rd March 2024), the UK property market recorded 200,823 homes sold subject to contract (STC). This figure is 1 ..read more

This is our five-step decluttering guide to greatly aid Harrogate homeowners in both enhancing their living space and boosting their property’s appeal to potential buyers. Here’s our structured plan that progresses from simple to more challenging tasks: Step 1: Start with Surface Clutter Begin by tackling the visible clutter on surfaces such as tables, kitchen worksurfaces, and shelves. This initial step creates immediate visual improvement and sets a positive momentum. Remove any items that don’t serve a functional or aesthetic purpose in the room. Consider implementing storage solutions like ..read more

The Spring Budget 2024 this afternoon has introduced some changes that could significantly influence your Harrogate property strategies and investment outcomes. Here’s a comprehensive mini-update: Capital Gains Tax Cut: A major highlight is the reduction in the higher rate of property Capital Gains Tax from 28% to 24%. This tax is applicable when you profit from the sale of properties that aren’t your main home, such as buy-to-let properties, business premises, or inherited properties. The expectation is that lower tax rates will spur more transactions, potentially enhancing tax revenues and o ..read more

For many folk property investments are a very important part of their financial planning for wealth generation, security, and future retirement although often centred in their own home can also extend to additional properties. The introduction of BTL (Buy-To-Let) mortgages around 25 years ago marked a significant step change in planning and presented opportunities for dual returns i.e. rental income in the short term and capital growth in the long term. It’s easy to see why there are a substantial number of Landlords who view property investment as the foundation of their retirement strategy ..read more

Knight Frank says a reduction in mortgage costs as early as February – or perhaps more likely in Q2 next year – could trigger a housing market bounce. The agency, which also has a mortgage arm, says there’s no shortage of reasons for buyers and sellers to feel hesitant at the moment. This follows mortgage rates having tripled in three years, uncertainty over where bank rates will peak, political volatility and two major overseas military conflicts taking place. Sentiment has been sapped to the extent that the seasonal autumn bounce in the UK housing market was non-existent this year, KF says ..read more