Property Market News May 2023
Interest rates have increased again, 100% mortgages have been relaunched, and there’s welcome news for renters. Read on to find out the latest on all this and more.
Would you like to know how to skip a few steps on the property ladder?
Some people say the property ladder is disappearing. Many first-time buyers are no longer satisfied with a flat or humble two-up, two-down starter home.
Price It Right
8–14 days is the optimum listing duration for agents to achieve the best possible price for your home
Better than expected market surprises many as buyers return
Average new seller asking prices remain flat this month, rising by just £14 (+0.0%), the smallest ever increase from January to February and a sign that more sellers are heeding their agents’ advice to price right first time
Capital Gains Tax: Annual Exempt Amount
Individuals, trustees of settlements (trustees) and personal representatives who realise gains chargeable to Capital Gains Tax (CGT).
Acquisition of Red Hot Lettings
We at JWW (JW Wood Estate Agents) are pleased to announce that we have acquired the lettings business of Liz and David Hewitson, trading as Red Hot Lettings in Darlington.
Everything you need to know about selling a listed property
Listed properties are the types of homes you see in movies, or on a picturesque walk in the countryside. Their impressive and grand architecture, or their adorable cottage aesthetic are what makes listed properties so desirable, which is why they need extra protection.
How do you find a professional agent to let and manage your property?
Probably the biggest challenge in letting and managing property is staying up-to-date and compliant with the law. There are more than 400 separate rules and regulations, many of which are kept under review and can be updated or added to, sometimes at short notice.
A detailed review from one of our vendors
As promised, I would like to send you this acknowledgement of the superb professional, personal, and helpful service you have given me during the sale of my Dad’s property.
Market softens following economic and political turmoil
The number of new applicants registering per member branch and the number of viewings per branch has fallen slightly in October when compared with September, while the number of new properties put up for sale also dipped.
Student Lettings, What's happening?
Many students are attracted by the modern, purpose-built en-suite rooms and bedsits offered by PBSA, which are generally situated in luxury city centre buildings and often come with on-site amenities, such as a coffee shop, gym and laundry facilities.
Shortage sees rental growth accelerate to above 12%
There are now 24% more tenants choosing to extend their lease than in 2019, and the number is 13% up from last year alone.
