As a practised estate agent based in Hounslow, I like to monitor the Hounslow property market, compare it to the UK property market, and then share it with Hounslow 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, I want to see if that national trend mirrors or differs from the local market in Hounslow. 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 11.5% higher than t ..read more

The UK’s property market is facing a significant challenge as the availability of homes for rent has plummeted to its lowest level in five years, exacerbating the difficulties tenants face in finding affordable accommodation. This alarming trend was highlighted in a recent analysis, which revealed that in 2023, only 261,542 private rental homes were available per month in the UK, marking a steep decline from the 379,459 monthly average of rental homes available in 2020—a drop of 31%, underscoring a worrying trend that has been developing over recent years. This scarcity of rental properties i ..read more

As an experienced estate and letting agent based in Hounslow, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024 ( when I started research for this article), the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Hounslow. In the first 11 days of 2024, the UK property market recorded 22,402 homes sold subject to contract (stc). This figure represents a significant increase compared to the first 11 days in 2023, where only 15,735 properties were sold stc. This is an impressive ..read more

As I review the performance of the Hounslow property market in 2023, it’s evident that despite the challenges, the housing sector in the area has shown remarkable resilience. At the beginning of the year many commentators suggested house prices would drop like a stone in 2023. The Halifax thought there would be an 8% drop, Savills suggested 10%, and the respected Nomura Bank 15%, yet according to the Land Registry, they ended 0.5% higher. Looking at the Land Registry figures for Hounslow … Hounslow house prices are 2.6% higher than a year ago. The final quarter (Q4) of 2023 recorded above-ave ..read more

As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in Hounslow’s property market has never been more pronounced. This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process. Hounslow’s Property Market: A Brief Overview Hounslow’s property market presents a unique blend of historical charm and modern appeal. The Hounslow property market caters to diverse preferences, from 19th-century homes to contemporary modern homes, from ..read more

Property investment has long been a staple in British retirement planning. The introduction of the buy-to-let mortgage over a quarter-century ago marked a significant turn, presenting opportunities for dual returns: rental income in the short-term and capital growth in the long-term. You can see why there are a substantial number of Hounslow landlords who view property investment as a cornerstone of their retirement strategy. However, this path is full of challenges. Recent shifts in tax and regulatory landscapes, coupled with escalating interest rates, have imposed pressures on profitability ..read more

Inflation, interest rates, house prices down, house prices up … the newspapers are full of column inches on Brit’s second favourite topic – the property market (the first being the weather obviously!). Those of you that read my articles on the Hounslow property market know I like to look further afield to compare the Hounslow market with the regional and national markets. The one thing that is immediately apparent is that the UK does not have one property market. House prices are up in one region of the UK, yet down in another. It is a hotchpotch patchwork (almost like a fly’s eye) of lots of ..read more

In the ever-changing landscape of the Hounslow property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that significantly impacted household finances, reminiscent of the challenges not faced since 2008. The average rates for fixed-rate mortgages have dramatically risen, notably from late 2021. This hike in the Bank of England base rates has led to a substantial increase in monthly mortgage payments, consequently affecting people’s ability to purchase new h ..read more

The UK’s property market landscape has experienced a significant shift over the last couple of years. In October 2021, there were 424,809 properties for sale in the UK. That now stands at 664,780, a rise of 56.5%. Looking at the number of property sales in the UK in October 2021, 111,229 properties were sold subject to contract (stc). In October 2023, that figure dropped to 88,737 properties sold stc, a reduction of 20.3%. Yet, then I thought to myself, this drop in property sales could have just been an October 2023 thing, so I looked at the year-to-date (YTD) figures for both 2021 and 2023 ..read more

The UK rental market has once again demonstrated its resilience and dynamic nature. Recent figures state that the average advertised rent for newly listed properties in the UK last month was £1,787 per calendar month (pcm). The average for the UK excluding Greater London is £1,211 pcm (and Greater London on its own is £2,989 pcm). In our region of Outer London, the average rent currently stands at £1,960 pcm. Rents in Outer London have grown tremendously. Rents in Outer London one year ago (Oct 22) were £1,790 pcm, a growth of 9.47% Rents in Outer London three years ago (Oct 20) were £1,423 ..read more