Nottingham Letting Agent Property Blog

The Nationwide announced property prices rose by 0.6% in February compared to January, marking the first monthly increase since November but warned this may only be temporary. It thinks the rise in house prices may be due to first-time buyers looking to take advantage of the stamp duty holiday before it expires on 24 March. If this is the case then house prices may hold up in the short-term before cooling again over the summer. The average home costs £162,712 which is an increase of £1,529 compared to a year ago, but is £6,019 less than the recent high which was...

More than a third of homes for sale have had their price reduced at least once since being listed, with Glasgow, Blackpool and Maidstone being the worst affected. The average discount from the original selling price is £19,580, or 7.5% which is £1,000 more than price reductions seen this time last year. According to Zoopla, homeowners are slashing their prices in an effort to attract buyers, and apparently if all these reductions were added up they would total around £2.5 billion. The current levels of discounted properties are at a new high as sellers come to terms with the fact that...

The Halifax has just released the results of its quality of life survey, and has revealed that Hart in Hampshire is the best place to live. The survey takes into account the local housing markets, environment, education, health and the employment market. Apparently Hart residents enjoy good health, low unemployment, a low crime rate, an additional three hours more of sunshine than the national average, and benefit from a number of other factors such as a good broadband connection. Residents in Hart also earn more than 40% above the national average, a fact that is reflected in the fact that house...

The latest report from the RICS makes for gloomy reading, as house prices are expected to continue their slow descent. The property market is still likely to be constrained by a lack of mortgage availability, concerns over the economy, and worries over property deflation.  This is in spite of the fact that numbers of potential homebuyers have increased for the last three consecutive months, with 5% more RICS agents expecting sales to increase in the New Year. However 17% of RICS members reported house prices dropping in November as opposed to increasing, although this was a little better than the previous...

Last month saw house price falls in nearly a third of the country, with the average property price dropping by 0.2% according to research from Hometrack, and it's forecasting this rate of decline could increase during the coming months. Figures from the Hometrack Monthly National Housing Survey show property prices have fallen consecutively during the last 16 months, and this year could see the lowest number of house sales for 40 years. However this price decline has been slight as prices are down by just 2.3% compared to last year.Hometrack is basing these predictions on several factors, one of which is ...

The Housing Minister, Grant Shapps has announced plans to get Britain building again, and this will include a number of new measures including releasing thousands of acres of public land and planning reforms. He has acknowledged a report warning that the housing market is in a bit of a state, due to high property prices and falling ownership levels.The National Housing Federation has forecast that home ownership in England will drop to just 63.8% over the next decade, which is the lowest level since the mid-1980s. According to the Federation, social housing waiting lists are at an unacceptably high level, and...

A study by Zoopla.co.uk shows that 80% of the 3.5 million properties bought since 2006 are now worth less than their purchase price. However a lot of owners are unwilling or unable to sell for less than they bought and are asking unrealistic amounts for their homes. This is resulting in an awful lot of properties being stuck on the market.Those who bought between 2007 and 2008 have been hardest hit, and the situation is worse in the north-east with some 93% of properties bought since 2006 now being worth less than the amount paid for them. According to Zoopla, the...