A report found that new buyer enquiries rose in March, with a net balance of +8% of respondents noting an increase, marking the most optimistic result since February 2022 The UK housing market continues to show signs of gradual improvement with the latest Residential Market Survey from the Royal Institution of Chartered Surveyors (RICS) suggesting a rise in buyer demand and a more positive outlook for sales expectations, as well as stabilising house prices. The report found that new buyer enquiries rose in March, with a net balance of +8% of respondents noting an increase, marking the most op ..read more

There was a steady improvement in sentiment in March, with home buyer demand and the supply of available properties rising, according to the Royal Institution of Chartered Surveyors (Rics) Surveyors are forecasting that house sales will jump in the months ahead. There was a steady improvement in sentiment in March, with home buyer demand and the supply of available properties rising, according to the Royal Institution of Chartered Surveyors (Rics). But it warned that, against a backdrop of higher mortgage rates, the scope for acceleration in housing market activity “will still be relatively l ..read more

Research shows that searches for holiday homes in general are up 5.3% in the past six months, however, at 4.2%, searches for holiday homes in the UK have seen a lower uptick in interest The latest analysis from quick sale specialists, Open Property Group, has found that Spain, Portugal and Italy are the top searched locations for Brits looking for a holiday home. Open Property Group evaluated a number of Google Search Trends concerning holiday home interest and how this interest has changed over the past six months. The research shows that searches for holiday homes in general are up 5.3% in ..read more

The app, founded by three former early-stage Deliveroo employees has been built for what it describes as “roomscrolling” Artificial intelligence-powered property search app Jitty has gone live across central London as it accelerates its expansion across the UK. The app, founded by three former early-stage Deliveroo employees has been built for what it describes as “roomscrolling.” Following its recent launch in the South West of England, Jitty will now show homes on the market throughout central London boroughs; Hackney, Camden, Islington, Westminster, Kensington and Chelsea. Using the app, p ..read more

The REIT credited the decline in the valuation of its student properties to the abolition of Multiple Dwellings Relief (MDR) Student housing provider Unite Group took a hit to its valuations at the beginning of the year due to measures announced in the Spring Budget but managed to recoup the loss due to increasing rents. In a trading update today, the REIT credited the decline in the valuation of its student properties to the abolition of Multiple Dwellings Relief (MDR). MDR was a cut on stamp duty when buying multiple dwellings for less than £250,000, which Unite said “benefitted a number of ..read more

Halifax said prices declined by 1% last month, with higher mortgage rates affecting affordability for potential buyers House prices dropped in March for the first time in six months, shows the latest data from Halifax. The lender said prices declined by 1% last month, with higher mortgage rates affecting affordability for potential buyers. The average house price dropped by around £2,900 to £288,430. However, the lender said that house prices were still ahead of where they were last year. Prices were 0.3% higher in March from a year earlier, although that was down from the 1.6% annual rise se ..read more

As demand continues to surpass supply in the rental market figures from the group of stamp duty experts show that on a national level an average of 17% of renters are having to endure other competitive tenants moving against them Around one-in-five renters have lost out on a property due to a bidding war in the last two years with tenants in London, Brighton, Southampton and Manchester fairing worse than most, according to research from Cornerstone Tax. As demand continues to surpass supply in the rental market figures from the group of stamp duty experts show that on a national level an aver ..read more

Average rents could increase by 13% over the next three years, the Resolution Foundation forecasts Rents across the UK could continue to rise strongly and surpass earning growth over the years ahead, says a think tank. Average rents could increase by 13% over the next three years, the Resolution Foundation forecasts. The typical cost of new tenancies has already grown by 18% since January 2022, with private renting no longer being the preserve of people aged in their 20s, per the Foundation. It said a rebound from the pandemic, during which evictions and repossessions were halted, and recent ..read more

The Q4 2023 report reveals significant shifts in the market, including a marked drop in new lending volumes, adjustments in rental yields, and changes in mortgage interest rates The value of new BTL lending in the UK slumped to £6.3 billion in the fourth quarter of 2023 – a sharp decline of 55.4% compared to the same period in 2022, according to UK Finance. The trade body released its inaugural quarterly BTL market update, presenting a comprehensive analysis of the latest trends in the UK’s BTL mortgage sector. The Q4 2023 report reveals considerable shifts in the market, including a marked d ..read more

In 2023, elevated bank rates meant that the average cost of a fall through rose by 4.3% to average £3,369 Research from information platform, Home Sale Pack, has revealed that fall-throughs are costing home sellers an estimated £909 million a year. Home Sale Pack evaluated residential fall-through data from TwentyCI and measured it against the estimated cost of a collapsed sale, based on source value versus house price, adjusted for inflation and including likely legal costs. The platform was then able to understand how much money UK home sellers were losing because of fall-throughs. The data ..read more