In today’s climate, it’s more important than ever to ensure that your property is presented to its full potential to be able to secure the best price. Houses that are staged correctly can sell more quickly and, in many cases, for a higher price. For those who aren’t familiar with home staging, it’s a method […]
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Rightmove says more homes are selling within a week than at any time in the past 10 years
More homes in Britain are selling within a week of being put on the market than at any time over the past 10 years, according to data from the property listing website Rightmove.
Pent-up demand for moves after lockdown and a stamp duty holiday on some homes have fuelled the property market over the summer – traditionally a quiet time for sales – with activity and prices both reaching new highs.
Continue reading...Find out the latest rental terms and terminology with our jargon buster guide. Whether you are a new or an existing tenant, the world of lettings is constantly changing. Our rental jargon-busting guide explains the words and expressions that are in regular use when letting a property. We explain everything from dilapidations and deposit protection schemes to […]
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Even as the economy sinks, the property market keeps surging. It sounds like good news, but is more likely a disaster in the making
Up, up and away! The rest of the economy is rapidly heading south, yet the property market keeps on rising. House prices hit a record high last month, according to Nationwide building society, and are increasing at the fastest rate since 2004. The news is striking, but it fits with reports of a “frenzy” in the market, where homes are selling at their asking price or more, and inner-city households are moving out to the suburbs and the countryside in search of gardens and home-office space. Back in July, the Bank of England’s chief economist, Andy Haldane, promised a V-shaped recovery. Two months later, that forecast has failed to apply to almost every sector – apart from asset markets.
Some of this is a rebound in activity after lockdown, when property viewings and transactions came to a halt. But estate agents and chartered surveyors can also thank Rishi Sunak for his suspension of stamp duty on properties worth less than £500,000. Most of all, they owe the Bank a debt of gratitude for flooding markets with ultra-cheap money in response to the pandemic. Indeed, the state’s response to Covid-19 resembles, in some key aspects, its reaction to the banking crash of 2008. Ministers explicitly try to prop up the property market, while central bankers pump markets with money, much of which goes not into productive investment that might create jobs, but into speculative purchases of houses, artworks and shares.
Continue reading...Despite confusion over rules and shortages of compost and seeds, UK allotment holders have cherished their plots
On 24 March, UK allotment holders woke to a different world. Lockdown added new challenges – but also new rewards – to the business of tending their plots.
There was confusion over lockdown rules, shortages of compost and seed, and, in England, a long, hot summer through which to keep watering. Many plot holders were deeply concerned about Covid-19: “Sowing seeds and wondering if you’ll still be around for the harvesting,” as one put it.
Continue reading...Average price soared to £224,123 in August, says Nationwide building society
UK house prices surged at the fastest pace in 16 years in August as strong demand pushed the cost of an average home to a record high, defying the economic crisis caused by the coronavirus pandemic.
The average house price soared to £224,123 in August, the highest on record, according to data from Nationwide building society. Prices rose by 2% during the month, the fastest rate of increase since February 2004.
Continue reading...Despite confusion over rules and shortages of compost and seeds, UK allotment holders have cherished their plots
On 24 March, UK allotment holders woke to a different world. Lockdown added new challenges – but also new rewards – to the business of tending their plots.
There was confusion over lockdown rules, shortages of compost and seed, and, in England, a long, hot summer through which to keep watering. Many plot holders were deeply concerned about Covid-19: “Sowing seeds and wondering if you’ll still be around for the harvesting,” as one put it.
Continue reading...