Author: Benjamin

[openai_chatbot] rewrite this content and keep HTML tags as is: For the first time since September 2022, the average two-year and five-year fixed mortgage rates are identical, both standing at 4.52%, according to Rightmove’s daily mortgage tracker. This marks a significant shift in the market, with the two-year average now considerably lower than the 5.25% recorded at the same point last year. The narrowing gap reflects growing market confidence that interest rates will fall, with the Bank of England widely expected to cut the base rate next week. With borrowing costs already easing, further reductions in mortgage rates are anticipated…

[openai_chatbot] rewrite this content and keep HTML tags as is: Richard Donnell The value of all homes is over £10trn, according to Zoopla, that’s ten thousand billion, more than 3x the value of UK equities. Notably, 85% of this housing value is equity, mortgage free The taxation of housing varies across the world. Most countries have a form of council tax, on outdated values, and taxes on transactions. Nine countries have tried wealth taxes since 1990, but all but two have dropped them as they don’t deliver the expected outcomes. The tax raised from UK housing has increased over recent years. Most…

[openai_chatbot] rewrite this content and keep HTML tags as is: High-end property sales slowed in the second quarter of 2025, with the number of £5m-plus transactions marking the second-lowest quarterly total since 2020, according to Savills. A comprehensive analysis of the entire market – including both new builds and resales – shows just 103 sales completed in Q2, representing a 15% decline compared to the same period in 2024. The downturn reflects the continued drag from recent tax changes and wider economic uncertainty affecting buyer confidence at the top end of the market. However, sales volumes remain resilient by historical…

[openai_chatbot] rewrite this content and keep HTML tags as is: Zoopla has introduced new EV-specific search functionality to its platform, allowing buyers and renters to locate the nearest on-street electric vehicle chargers to a property and filter listings by home-charging availability. Zoopla is understood to be the first UK property portal to offer this feature, which has been developed in partnership with Vauxhall. The move comes in response to research showing that 40% of UK drivers consider proximity to EV charging a key factor when choosing their next home. A third (33%) of those surveyed said that a lack of…

[openai_chatbot] rewrite this content and keep HTML tags as is: Nearly half of recent homebuyers (49%) say that dealing with conveyancers was the most stressful part of their property transaction, according to new research from Smoove, a software provider in the conveyancing comparison space. The research, based on buyers who completed a purchase in the past 12 months, found this sentiment was equally shared among both first-time buyers and second-steppers, indicating that the issue isn’t linked to experience but to broader frustrations with the process. A significant factor behind the stress appears to be a lack of transparency and understanding.…

[openai_chatbot] rewrite this content and keep HTML tags as is: Guy Gittins Foxtons has released its trading update for the first half of 2025, reporting a 10% increase in revenue and a 31% rise in adjusted operating profit. Despite the strong performance, the agency’s CEO has signalled a more challenging outlook for the sales market in the second half of the year. Highlights are as follows: + Group revenue up 10% in H1 2025 to £86.1m (H1 2024: £78.5m) + Adjusted EBITDA up 32% in H1 2025 to £13.8m (H1 2024: £10.5m) + Adjusted operating profit up 31% in H1…

[openai_chatbot] rewrite this content and keep HTML tags as is: The average advertised rent of new properties coming onto the market outside of London has risen by 1.2% this quarter to a new record of £1,365 per calendar month (pcm), new data from Rightmove has revealed. Despite another new record, the average asking rent for a home outside of London is now 3.9% higher than this time last year, the lowest this annual growth figure has been since 2020. Average advertised rents for new properties in London also rose by 0.5% this quarter to £2,712pcm, a 15th consecutive record for…

[openai_chatbot] rewrite this content and keep HTML tags as is: National house price inflation has slowed to 1.3%, driven by a 12% increase in homes for sale and higher stamp duty costs for many buyers, Zoopla’s latest House Price Index has revealed. According to the data, buyer demand is up 11%, accompanied by an 8% increase in agreed sales. There are currently a record number of homes on the market, an average of 37% estate agent branch, with Zoopla suggesting that more buyers actively looking to finalise deals before the start of the school holidays and the August slowdown. Recent…

[openai_chatbot] rewrite this content and keep HTML tags as is: Dwelly has completed its fifth agency purchase in less than a year with the acquisition of Number 1 Letting in Pontefract, West Yorkshire. This latest move sees 850 fully managed units added to the Dwelly portfolio, with the company now managing in the region of 3,500 units, following previous acquisitions in Brighton, Essex, Yorkshire, and Suffolk, with a goal to surpass 10,000 units under management by the end of this year. Founded in 2008, Number 1 Letting will retain its brand and existing team, led by Tracey Brown, supported by Dwelly’s…

[openai_chatbot] rewrite this content and keep HTML tags as is: John D Wood & Co. appoints Shaun-Lloyd Griffiths Shaun-Lloyd Griffiths John D Wood & Co., part of Connells, has appointed Shaun-Lloyd Griffiths as its new head of client services. Griffiths brings nearly 15 years of experience in real estate and sales leadership to the role, having spent his career to date at Foxtons, where he most recently served as director of operations. His expertise lies in recruiting, cultivating and developing top tier talent. “I utilise industry insights and data-driven decision making to optimise sales performance and expand market share,” he…