Tag: house

Hope for the Housing Market as 2022 Draws to a Close

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With the recent uncertainty in the housing market, it can be hard to know when the best time is to sell your property writes Ricky Benwell. Whether you’re thinking of buying your first home, upsizing or downsizing from your current property, keeping a close eye on the local market and house prices is always a good place to start. After a slow start to October, we have seen a recovery in both properties coming to the market and sales going through to completion. Following a rise in mortgage rates, there…

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Local Housing Market Remains Busy

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According to national statistics, the average price for a property in the region is close to £47,500 more expensive than in the summer of 2020, after COVID-19 market lockdown, writes Benwell Daykin.  During the same period, the threshold for a prime market property in the region has risen by £60,000. Except for the Stamp Duty holiday fuelled markets in 2021, the first half of 2022 proved the busiest since 2016, with over 100,000 homes changing hands each month.  This activity pushed revenue from property taxation over the period to more than…

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Housing Market After Mini-Budget

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Last week, The Guardian newspaper reported that UK house price growth flatlined in September with a stronger slowdown expected in the coming months as a combination of soaring inflation and mortgage rates makes moving unaffordable for many writes Nick Aston of Ruddington’s Benwell Daykin Estate & Letting Agents. The latest snapshot from the building society Nationwide comes at the end of a torrid week for the housing industry as lenders pulled 40% of available mortgages from the market after Kwasi Kwarteng’s mini-budget (Friday 23rd September 2022). Lenders began suspending products after the Chancellor’s sweeping tax-cutting…

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Evaluating Your Mortgage Options

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At Benwell Daykin, we try to make our monthly posts to you as knowledgeable as possible, and try to keep them positive, so we apologise for this post about mortgage rates in advance writes Ricky Benwell. August has seen the Bank of England interest rate increase to 1.75 percent. This is the sixth this calendar year and is another attempt by the Bank of England to tackle inflation, with figures expected to potentially reach double digits by the end of the year! As of June 2022, the rate of inflation rose…

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Housing Slowdown Signs After Record June High

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The average UK house price hit a new record high in June but there are “tentative signs of a slowdown”, according to an index writes Nick Aston of Ruddington’s Benwell Daykin Estate & Letting Agents. The Guardian newspaper has reported that the growth of UK house prices slowed this month, an index shows, as the weakening economy, cost of living squeeze, and rising interest rates cooled the market Prices were up by 10.7% in June, slowing from 11.2% in May, Nationwide Building Society said. Prices rose by 0.3% in June, a notable slowdown on…

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Benwell Daykin’s Housing Market Update

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The BBC recently reported that the average UK house price hit a fresh record in April but that growth is set to slow this year as inflation and interest rates rise, writes Nick Aston of Ruddington’s Benwell Daykin Estate & Letting Agents. The Halifax said house prices rose 1.1% in April compared with March. While it said prices had grown for 10 months in a row – the longest run since 2016 – it said “the headwinds facing the wider economy cannot be ignored.” Hikes in the cost of living and higher interest rates will squeeze…

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Buy To Let Investments

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The Times newspaper had an article recently asking the question:  “Should I Invest in a Buy To Let Property in 2022?” They confidently replied with a resounding YES! …says Benwell Daykin. Two Nottingham postcodes occupied spaces one and two on their highest average yield locations in England, with NG7 giving 11.3% and NG1 giving 11.1% on average. Meanwhile, the same newspaper reports that banks are doing all they can to attract landlords in 2022 by offering low interest rates on buy-to-let mortgages (Mortgage Works, Nationwide’s buy-to-let arm, has a two-year…

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Happy New Year from Team Benwell Daykin

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The last twelve months have seen unprecedented times for many of us – and estate agents are no different says Benwell Daykin. This year has seen the property market flourish like never before. A continued increase in house prices and demand far outstripping that of supply are considered to be the main reasons for the continued robust price growth. Average UK house prices defied expectations and continued to climb over the last few months despite the phasing out of the government’s stamp duty holiday at the end of September. Nationwide,…

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How to Make Your Property More Appealing

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If you’ve got your house up for sale, a Ruddington estate agent has revealed some top tips to help impress prospective purchasers. Benwell Daykin strive to give your home maximum market exposure and get potential buyers to view your property. They do this through a proactive marketing strategy, tailored to your property, which may include: Digital viewings Virtual tours 3D Floor plans Professionally enhanced photographs Extensive database of potential buyers But what can YOU as the property owner do? Here are a few tips from Senior Valuer Nick Aston to…

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House Prices Increase by the Most Since 2007

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Mortgage lender Halifax has reported this week that house prices in the UK rose by the most in almost 15 years during September. This came as the stamp-duty holiday came to an end – and the Halifax predicts that prices will continue to climb to new record high levels. Prices rose by 1.7% from August, the biggest monthly increase since February 2007. In annual terms, house price growth also accelerated to 7.4% from 7.2% in August having slowed in each of the previous three months. The housing market in the…

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