Weekly Property News Round Up – 30.06.24

Welcome to this week’s edition of our Property News Roundup, where we bring you the latest insights and trends shaping the real estate landscape.

As we navigate the dynamics of a market influenced by political events, you’ll find a detailed look at how election news is impacting buyer behaviour and property prices in London.

Additionally, we’ll explore the growing interest in new-build investments, highlighting the key benefits attracting buyers. Stay informed on the market’s resilience and the strategic opportunities it presents for your investment decisions.

Now, let’s have a look at the latest headlines that have caught our eye this week…

Ep 82: How Urban Regeneration Can Skyrocket Your Property Investment
 
The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

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

Property News This Week

Property Market Surges Despite Election Uncertainty 
Property transactions have increased compared to last year, indicating sustained buyer interest despite the upcoming General Election, according to HMRC data. In May 2024, residential transactions rose by 17% year-on-year and 2% from April 2024.
 
Jackson-Stops director Crispin Harris noted a stable market with hopes for growth into summer, supported by a 1.1% annual increase in UK house prices. Jackson-Stops also saw a 34% rise in new instructions year-on-year. Non-residential transactions increased by 6% from May 2023 and 1% from April 2024. Andrew Lloyd from Search Acumen highlighted resilience in commercial property, suggesting a potential market turning point.

London House Prices Up 1.4% Annually Amid Election-Driven Surge 
The average asking price for a house in London is £695,079, down 0.3% from May but up 1.4% annually, according to Rightmove.
Despite strong demand leading up to the general election, high mortgage rates are limiting buyers’ budgets.
 
The average five-year fixed mortgage rate is 5.04%. Camden saw the highest annual growth in asking prices at 9.7%, while Brent experienced the largest decline at 2.9%. Rightmove’s Tim Bannister noted a dip in new sellers, especially at the top end, but overall market activity remains steady. Estate agents report increased buyer confidence following the election announcement.

New-Build Investments Rise Due to Energy Efficiency and Perks 
Investing in new-build properties remains popular in the UK, with a Knight Frank survey showing a 13% rise in interest, particularly in off-plan purchases. The top benefit cited by over 60% of buyers is energy efficiency. Another 46% appreciate the absence of a seller chain, while a third value the ability to influence design.
 
New-builds are sometimes cheaper than existing homes, offering advantages like financial incentives, warranties, and better safety standards. Energy efficiency is a major draw, with new builds showing a 56% annual energy cost saving over existing properties. The number of new homes with top EPC ratings is also increasing significantly.

That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply—I’d love to chat with you about the latest market trends and discuss your investment goals.

I’ll be back next week with more insights on the property market. Enjoy your weekend!

Popular Posts

Dubai Weekly Property News Round Up – 13.07.24

Date: July 16, 2024

Weekly Property News Round Up – 13.07.24

Date: July 16, 2024

Dubai Weekly Property News Round Up – 07.07.24

Date: July 8, 2024

Weekly Property News Round Up – 07.07.24

Date: July 8, 2024

Dubai Weekly Property News Round Up – 30.06.24

Date: July 8, 2024

Weekly Property News Round Up – 30.06.24

Date: July 8, 2024

Dubai Weekly Property News Round Up – 22.06.24

Date: July 8, 2024

Weekly Property News Round Up – 22.06.24

Date: July 8, 2024

Dubai Weekly Property News Round Up – 15.06.24

Date: July 8, 2024

Weekly Property News Round Up – 15.06.24

Date: July 8, 2024

Labour’s Victory in the 2024 UK Elections: Implications for the Property Investment Market

Date: July 5, 2024

Dubai Weekly Property News Round Up – 08.06.24

Date: June 11, 2024

Weekly Property News Round Up – 08.06.24

Date: June 11, 2024

Dubai Weekly Property News Round Up – 01.06.24

Date: June 11, 2024

Weekly Property News Round Up – 01.06.24

Date: June 11, 2024

The 5 Best Areas For Student Property Investment In Leeds

Date: June 11, 2024

19 Property Investment Tips For Beginners

Date: June 11, 2024

Dubai Weekly Property News Round Up – 25.05.24

Date: May 29, 2024

Weekly Property News Round Up – 25.05.24

Date: May 29, 2024

The Impact of Major Events on Property Demand

Date: May 22, 2024

calculating roi

How To Calculate Buy-To-Let ROI

Date: May 21, 2024

best student areas in nottingham

The Best Areas For Student Property Investment In Nottingham

Date: April 24, 2024

blog post banner graphic

The Best Areas For Student Property Investment In Liverpool

Date: April 5, 2024

off plan property dubai blog graphic

Off-Plan Property Dubai: An Investor’s Pocket Guide

Date: April 5, 2024

best area for student property manchester graphic

The Best Areas For Student Property Investment In Manchester

Date: February 23, 2024

best buy to let areas in bolton graphic

The Best Buy-To-Let Areas In Bolton

Date: February 13, 2024

best buy to let areas in burnley graphic

The Best Buy-To-Let Areas In Burnley

Date: February 13, 2024

The Best Buy-To-Let Areas In Preston

Date: November 28, 2023

The Best Buy-To-Let Areas In Sunderland

Date: November 28, 2023

The Best Buy-To-Let Areas In Brighton And Hove

Date: November 28, 2023

Recent Posts

Dubai Weekly Property News Round Up – 13.07.24

Date: July 16, 2024

Weekly Property News Round Up – 13.07.24

Date: July 16, 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.