Positive start to the year for the housing market
Increased demand from buyers and sellers is helping to get the housing market back on track this year.
Residential Property Review – February 2024
Monthly Archives: February 2024
Commercial Property Review – February 2024
2024 – a turning point?
The recently released UK Commercial Market in Minutes from Savills has identified 2024 as a pivotal year for the commercial property investment market. Expectations are for an uptick in investment volumes versus 2023, after a couple of years of falls, with some strengthening in prime yields also likely.
In the news
Gazundering in a buyer’s market
Research1 has found that, in 2023, there was a 97% increase in people googling the term ‘gazundering’ – when a homebuyer reduces their offer on a property at the last minute, often just before exchange of contracts. About a third of sellers were subjected to gazundering last year2, indicating the property market currently favours the buyer. Gazundering is less common in Scotland because, while it does still occur, Law Society of Scotland governs the activities of solicitors acting on behalf of property buyers.
Equity release bouncing back?
After a challenging few years, equity release is picking up steam again, with the market experiencing growth for the first time in a year, according to market statistics1.
Are you due a midlife MOT?
Just to be clear, we’re not talking about your physical health here (that’s the doctor’s remit). We’re talking about a check-up to assess your financial wellbeing.
In the news
Pension Tracing Service swamped
People who think they could be missing out on thousands of pounds in pension savings have flocked to the phonelines to try and track down their lost money. Through a freedom of information request, it has come to light that The Pension Tracing Service received a total of 251,733 phone calls between July 2018 and August 2023. Figures suggest the average lost pension pot is worth £9,500.
Sleep easy in 2024
If you’re losing sleep over your finances, you’re not the only one. According to research1, nearly half (45%) of UK adults are lying awake at night because they’re worrying about money.
Economic Review – January 2024
UK economy rebounds in November
Official statistics show the economy returned to growth in November, although analysts believe it remains a close call as to whether or not the UK will once again manage to avoid a recession.
Powering up your pension
Paying a lump sum into a pension can be a particularly effective way to save for your future. If you have accumulated extra money from a windfall, work bonus or through saving, now could be the ideal time to power up your pension with a single contribution.
In the news
Who wants to be an (ISA) millionaire?
The number of ISA millionaires – i.e. people who have built up a tax-free pot of £1m or more by investing in stocks and shares ISAs – has almost quintupled since 2017, with the figure now standing at 2,7601. With the first ISAs introduced in 1999 aimed at encouraging more people to save, the data certainly suggests the objective is being satisfied for an increasing number, with the most recent data suggesting around 11.8 million adults were subscribed to an ISA in 2021/22, making £66.9bn deposits in that tax year.
