Property market trends in 2024
As we approach the new year, Zoopla has highlighted trends in the UK property market in 2024.
Residential Property Review – December 2024
Topic: Property
Many young mortgage holders do not have life cover
Research has found that 28% of young UK homeowners do not have life insurance1.
It is estimated that 1.7 million adults aged 18-40 do not have appropriate cover in place, despite having a mortgage. This oversight puts their dependants in a precarious financial position in the event of their death.
Residential Property Review – November 2024
Budget caused uncertainty in the market
There was some uncertainty within the housing market ahead of the Autumn Budget at the end of October, which was reflected in muted consumer activity.
In the news
Northern cities surge in mortgage searches
As buyers consider more affordable housing options beyond the capital, the six major Northern cities of Leeds, Bradford, Manchester, Liverpool, Sheffield and Newcastle have witnessed a significant increase in purchase mortgage searches and now account for almost 11% of all mortgage search activity, up by two-thirds on last year1. This surge in demand highlights a broader shift for affordability and life improvements.
The new Renters’ Rights Bill – what does it mean?
The Labour government has designed a Renters’ Rights Bill, aiming to improve the rights and protections for tenants.
Changes have already been made to improve rights in Scotland and Wales, so the proposed Bill will be applicable to renters in England, with some elements stretching to Wales.
Residential Property Review – October 2024
Improving conditions in the residential market
Activity in the residential property market is picking up as house prices continue to show modest growth, according to Savills.
Residential Property Review – September 2024
Recovery in the residential market
Recent data indicates that the residential property market is continuing to recover.
Residential Property Review – August 2024
First cut in Bank Rate in over four years
The Bank of England has reduced Bank Rate for the first time in more than four years.
Buying a new build – what to consider
Are you thinking of buying a new build? The good news is there are more regulations than ever that protect buyers of newly built homes. It can be difficult to keep up with these changes, so here’s what you need to know.
Residential Property Review – July 2024
A new Labour government – what next for housing?
Following the Labour Party’s landslide election win, what changes might be in store for the UK housing market?
