Almost half of UK homeowners undervalue their home by an average of £46,300 and over 1m properties in the UK could be worth £100,000 more than their owners realise, according to the latest Zoopla data.
In step with the growing demand for rental accommodation, the number of first-time landlords is also on the rise.
However, with a constantly evolving number of laws and regulations governing the private rented sector, becoming a landlord for the first time can be somewhat daunting.
Soaring demand among tenants for homes in commuter zones and well-connected towns is fuelling a ‘mini-boom’ in the rental market.
Light at the end of the lockdown tunnel, the new government-backed mortgage guarantee scheme, and the stamp duty holiday have all played their part in driving up the volume of property completions across England and Wales, according to new data from Landmark Information Group.
The government's new 95% mortgage guarantee scheme launches today, with a number of lenders including HSBC, Barclays, Santander, NatWest, and Lloyds now further supporting borrowers with smaller deposits.
The number of second homes in the UK has risen to a record high of 495,000 in 2018/19 - a 30% rise from the 382,000 recorded in 2013/14.
Almost a third of the UK households are making plans to change living arrangements due to lockdown experiences, moving home permanently and citing remote working as the facilitator and quality of life as the ambition.
Amidst the soaring demand for holiday lets as the UK prepares for a staycation boom this summer, inquiries for tax advice from customers considering buying a second property are also rising.
About 700,000 renters are estimated to have been served with “no-fault” eviction notices since the start of the pandemic, despite a government promise to scrap the practice.
With the greatest supply and demand balance over the past ten years, the UK property market remains furiously competitive. And as lockdown restrictions continue to ease, the frenzied pace of the market will likely increase.
Online fashion giant Boohoo has snapped up a new office in Soho, in the heart of London’s West End, for £72m.
Newly released insight from BuildScan has revealed which areas of the nation have seen housebuilders take their foot off the gas in the last five years where housing delivery is concerned.
The average price of a UK home jumped by 1.1% in March to a record high of £254,606 as government measures to support the market continued to drive interest from buyers.
Despite the widely publicised exodus of UK landlords exiting the traditional market and moving into short-term letting, the UK's buy-to-let sector remains vibrant and profitable, but you have to know where to look.
A lot has changed in a year since the pandemic first brought the UK property market to a virtual standstill. Viewings went virtual, people left cities and demand for larger homes exploded.
New data, based on the housing costs associated with a mortgage on a three-bed home versus the average monthly rent of the same property type, has revealed that first-time buyers are now £800 a year better off than renters.
The old Help to Buy equity loan scheme expired last month, replaced by a similar government scheme that launched at the start of April. This new and enhanced version of H2B is restricted to first-time buyers and includes regional property price caps to ensure ‘it helps those who need it most’.
Pending sales, bereavements, and renovations have been revealed as the top three reasons for unoccupied properties during 2020, resulting in a 35% surge of temporarily empty homes.
No sign of the market cooling down just yet as newly released data reveals that homebuyer demand for conveyancing quotes was 101% higher at the end of March than the average for the same period during the last four years.
anging plants smother the walls of a new office block proposed for Salford, giving it the look of something from an abandoned post-Covid city, reclaimed by nature. The ivy-covered tower, designed by Make Architects, has been trumpeted as “fossil-fuel free”, set to run on 100% renewable energy and reach net zero operational carbon, with tenants enjoying the “biophilic” benefits of dangling foliage. But not everyone is convinced.
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