Weekly Property News Round Up – 11.03.23

Hello,

I hope you’ve had an enjoyable week. Much of the UK population has woken up to a blanket of snow throughout this week – but there’s certainly no chill in the property market! As data shows, spring is in the air despite the cold, and transaction levels are showing fresh buyer enthusiasm.

If you are wondering whether this is a good time to buy, reply to this article to arrange an informal chat with one of our expert advisors.

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 59: Live From Hong Kong – An Inside Look At Our Company’s Growth And Future Plans – The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.

Property News This Week

  • Spring Brings Fresh Activity to the UK Property Market – Market analysis on historic mortgage lending figures has recently been used to reveal the influence seasons have on transaction levels. The results have shown that spring and summer consistently bring in the largest number of mortgage applications, suggesting that we could soon be in for another flurry of activity, despite fears of a market slump. While this year has already got off to a strong start, experts are confident that we will see a significant lift from the mortgage market dip triggered by last year’s political and financial instability.
  • Drop in Housing Supply Prompting Rethink on Property Tax – The chief executive of estate agents Winkworth has stated that the government needs to prioritise boosting the supply of homes for both buyers and renters in next week’s Budget, in order to rectify the massive damage to both markets done by the Conservative party. The focus needs to be fixed on introducing positive tax changes to encourage and enable new buyers to get on the ladder and also to actively support the buy-to-let sector for the first time in years, by supporting landlords rather than preventing them from maintaining a profit.
  • Real Estate Revival On Cards, Says Bank of England Rate Setter – Following Halifax’s recent report on rising house prices and the steady trickle of mortgage rate decreases, a member of the Bank of England’s Monetary Policy Committee has confirmed that signs of a revival of the UK’s property market may be on the cards. The majority of forecasters have predicted a decline in house prices this year, but the BoE member does not follow suit, suggesting instead that any perceived slump is simply a re-balancing of the market from the record-breaking 28% house price increase at the start of the pandemic.
  • Halifax Report Reveals Prices Are Up Despite Slowing Growth – It seems that banks just cannot agree on their predictions for the housing market this year, as Halifax’s House Price Index report last month revealed house price growth of 2.1%, staying level for the third month in a row. Since January, the report showed that house prices have risen 1.1% every month. These figures clash with those of Nationwide, whose own House Price Index for February showed a drop in annual house price growth by 1.1%. Indeed, while recent mortgage rate reductions are improving consumer confidence and helping to stabilise the market, the pressure of inflation and undersupply of housing is still causing concern for the market’s possible downward trend.

That is all we have for you this week. If you have any comments or questions on this week’s news summary, please email us at [email protected]  – if not, see you next week.

Popular Posts

Weekly Property News Round Up – 30.11.24

Date: November 29, 2024

Weekly Property News Round Up – 23.11.24

Date: November 25, 2024

The 5 Best Buy-To-Let Areas In Glasgow

Date: November 20, 2024

Weekly Property News Round Up – 16.11.24

Date: November 18, 2024

Weekly Property News Round Up – 09.11.24

Date: November 18, 2024

How Rachel Reeves’ New Budget Could Transform the UK Property Market

Date: November 4, 2024

Weekly Property News Round Up – 02.11.24

Date: November 4, 2024

The 5 Best Buy-To-Let Areas In Edinburgh

Date: October 29, 2024

How To Build A Property Portfolio

Date: October 29, 2024

Weekly Property News Round Up – 26.10.24

Date: October 28, 2024

Weekly Property News Round Up – 19.10.24

Date: October 24, 2024

Weekly Property News Round Up – 12.10.24

Date: October 15, 2024

Track Capital’s Exclusive Site Visit to Manchester’s Best-Selling Development

Date: October 11, 2024

Weekly Property News Round Up – 05.10.24

Date: October 10, 2024

Weekly Property News Round Up – 28.09.24

Date: October 1, 2024

Why Liverpool’s Property Market Is A Smart Investment Choice In 2024

Date: September 25, 2024

Weekly Property News Round Up – 21.09.24

Date: September 24, 2024

Weekly Property News Round Up – 14.09.24

Date: September 17, 2024

Buy-To-Let: Limited Company vs Personal Ownership

Date: September 10, 2024

Weekly Property News Round Up – 07.09.24

Date: September 8, 2024

Weekly Property News Round Up – 31.08.24

Date: September 5, 2024

How To Make Money From Property (5 Proven Strategies)

Date: August 29, 2024

Weekly Property News Round Up – 24.08.24

Date: August 27, 2024

Weekly Property News Round Up – 17.08.24

Date: August 27, 2024

How to Buy Property for £40K in the UK in 2024: Recap of Our Latest Webinar

Date: August 16, 2024

Where’s The Best Place To Invest In Property In 2024?

Date: August 13, 2024

Weekly Property News Round Up – 10.08.24

Date: August 12, 2024

How the King’s Speech Could Shape Property Investment: Key Updates for Investors

Date: August 6, 2024

Weekly Property News Round Up – 03.08.24

Date: August 5, 2024

Weekly Property News Round Up – 27.07.24

Date: July 30, 2024

Recent Posts

Weekly Property News Round Up – 30.11.24

Date: November 29, 2024

Weekly Property News Round Up – 23.11.24

Date: November 25, 2024

Get in touch with us by clicking below and submitting an enquiry.

if you have any questions or would like to inquire about our services, please click on the “Contact Us” button below to be redirected to our contact page. Our team is dedicated to providing exceptional customer service and will do their best to assist you with any inquiries you may have.