Category: Property Market

The UK lost a net 10,800 millionaires in 2024, the second highest exodus of any country behind China, and it accounts for a 157% increase in the number of millionaires leaving compared to 2023. Most prominent among those choosing to leave are Charlie Mullins, founder of Pimlico Plumbers; Richard Gnodde, senior banker at Goldman Sachs;...

Responding to the ongoing events happening on the global financial scene, many mortgage lenders have slashed a number of buy-to-let mortgage schemes. A consequence of this is a rejuvenated sense of competition among mortgage lenders, each motivated to capitalise on this unique window of opportunity to attract more customers. This direction will benefit many within...

According to the National Residential Landlords Association, 41% of the landlords surveyed are planning on reducing their rental portfolios over the next year. By comparison, only 5% of the landlords surveyed intend on expanding their rental portfolios during the same period. Mounting financial pressures are causing some landlords to contemplate whether to remain in the...

The whole planning approval process has recently come under scrutiny. The latest report conducted by the Home Builders Federation has highlighted the bureaucratic inefficiencies that have persistently slowed down property construction. Considering demand continues to rise across the UK, these inefficiencies are causing significant disruption in securing the development of well-needed properties.   Time is now...

A persistent issue in the property market is the generally slow transaction process. According to the Homeowners Alliance, almost a third of adults surveyed believed that the transaction process should be faster. What is further alarming is the reported 300,000 annual fall throughs in property transactions, which cost sellers around £400 million.  As a result,...

Buyer activity is currently surging in light of the 1 April deadline, after which point stamp duty thresholds will be lowered from £425,000 to £300,000 for first-time buyers and £250,000 to £125,000 for second-time buyers. Such activity underlines the trepidation customers and industry experts have towards the post-April property market – a period that property...

Despite Zoopla forecasting that the overall property market in London is likely to show signs of low economic growth in 2025, market activity in the capital city continues to hold firm. As the latest data by Savills underscores, the performance of the London property market continues to struggle, yet the one area London is doing...

A striking change will happen at the start of April 2025: stamp duty thresholds will be lowered from £425,000 to £300,000 for first-time buyers and £250,000 to £125,000 for second-time buyers. Reversing the stamp duty thresholds set in September 2022 is going to have a noticeable impact on the performance of the property market. Given...

Based on the UK economy growing for the first time in three months by 0.1%, the case is beginning to be made around the Bank of England lowering interest rates in February. Constitutive with this discourse is the trajectory of property prices across the UK. Fortunately, there is a general optimism that national property prices...