Tag: Lettings

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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Ruddington’s Latest Village Centre Arrivals

Graham Wright

Two more retailers have now begun trading on the eastern side of High Street – from the three storey premises recently built on the site of the old Barclay & Cook convenience store. The new arrivals are actually well established businesses already – expanding their offer into Ruddington village centre – namely Wolds Kitchens and Interiors and Tomlinson Estates. Both will be competing against similar, existing traders – nevertheless have decided there is sufficient demand in our ever growing village to accommodate their services, too. Wolds Kitchens and Interiors is…

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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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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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Update to Stamp Duty Thresholds

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Reduced ‘stamp duty’ rates on residential properties from the 1st July will be an added bonus to so many prospective home buyers says Benwell Daykin. It means that if you buy a residential property between July 1st 2021 and September 30th 2021, you start to pay Stamp Duty Land Tax on the amount you pay above the threshold of £250,000. From October 1st 2021 the zero rate band will return to the standard amount of £125,000. The rates from the October 1st 2021 are: Up to £125,000 – Nil The next…

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Should You Sell Your Home Before Looking for Another?

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A number of Benwell Daykin clients have expressed their exasperation at being ‘gazumped’, or seeing offers rejected on their dream home, due to not being in a position to proceed. As such this has raised the question: “Should I sell my home before I start looking for another?” Mora Sheard, from the Ruddington-based estate agency, advises that deciding whether to sell your home – or whether to buy a new home first – should be based on your finances, the market availability for properties that interest you, the house that…

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Guaranteed Mortgage Scheme Begins

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Following Benwell Daykin’s previous RUDDINGTON.info article in March, detailing the extension to the Stamp Duty Holiday and Guaranteed Mortgage scheme, they are now pleased to expand on this. From the start of this month, the government has provided guarantees to UK lenders who offer mortgages to buyers, to secure a loan with a 5% deposit on a property of up to £600,000 before the 31st December 2022. The UK’s top five banks have announced their support of the initiative and many will roll out their offers and initiatives from the 19th…

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Stamp Duty Holiday Extended & Guaranteed Mortgage Scheme

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Following the budget announcement on March 3rd, that the Chancellor extended the Stamp Duty Holiday, what does this mean for Ruddington residents? Well, the property purchase tax has been suspended on the first £500,000 on any property purchase, meaning you have the opportunity to save thousands of pounds if you complete your purchase before June 30th 2021. Nick Aston, senior valuer at Benwell Daykin Estate Agents on High Street, welcomes the extension: “This is great news for home buyers in the Ruddington area” he says. “With their savings on stamp duty,…

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January Record for Benwell Daykin

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The UK property market enjoyed a mini boom in the second half of 2020. The question on everybody’s lips is: “Why is this, and will it continue in 2021?” The property market in England is fully open in its entirety, meaning that Benwell Daykin is allowed to conduct in-person valuations and house viewings, meaning buyers are able to move home despite the ‘lockdown’ measures currently in place. Since the middle of 2020, the UK property market has been on the rise which has seen transaction numbers rise significantly. Provisional data…

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