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The housing market once again exceeds expectations as current research suggests that in 2022 almost a third (31%) of properties are now receiving offers within an hour of being viewed; compared to a mere 7% in 2018.*
Over a five-year period, almost one in five (17%) properties received an offer within one hour of a viewing. An even more notable 7% of buyers made an offer on a property without attending an in-person viewing, according to data from MPowered Mortgages.*
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Houses aren’t the only things seeing a rise in prices, as every area of the UK recorded a growth in rent prices during September. Greater London alone saw a 2.5% increase, which helped to drive the average rent in the UK to £1,159 per calendar month. This is a notable 1.4% rise from the previous month.*
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Buying a Home, particularly for the first time, can be a daunting prospect; however almost every house purchase that takes place follows the same process, even if the timings differ. Once you've found the house of your dreams, and your offer has been accepted, the first step is to instruct solicitors, or conveyances, so they can begin working on your behalf.
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It’s almost hard to believe that summer is over and already we find ourselves in these autumnal months. As days grow cooler and it becomes darker earlier having a well lit property can not only improve your time at home but also create a warm and inviting atmosphere for guests; or prospective buyers if you’re looking to sell.
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When investing in a house that you plan to live in for some time think not only about how it suits you now but how it might also suit you in the future. Increasingly we see buyers looking for homes that inspire and have scope for renovation; which may include offering the chance to change the layout and make it truly work for their lifestyle. This can be undertaken to various degrees from making the kitchen and living room open plan to adding an extension or loft conversion. It may also prove an interesting way to add value to a property, when the time comes to sell and move on.
