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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.
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It almost goes without saying that location is, and will always be, one of the most important factors to consider when moving home; whether you are relocating to the house next door or thinking about a move across country. From schools to shops, transport links to countryside spaces each element needs to align to your way of life before you take your next steps on the property ladder.
Durden and Hunt sponsor Jade Goody Memory Walk for the trust for complementary cancer rehabilitation
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Durden and Hunt are delighted to sponsor the Jade Goody Memory Walk for the trust for complementary cancer rehabilitation on Sunday 25th September.
Here, Local Councillor Jaymey McIvor greeted James Gibbon, Ongar Branch Partner, with one of our specially designed boards to raise awareness for the charity and upcoming walk. The boards will be seen across Essex in the lead up to the event and Durden and Hunt will be making a donation to the charity for each.
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Buying a property can sometimes feel like a long and overwhelming process, especially when purchasing a home for the first time or as a solo buyer. Perhaps unsurprisingly recent research (by Money Box Home-Buying) suggested over three in five home owners felt they were ‘winging it’ when they bought their own home with 61 percent feeling that, due to their lack of knowledge about the process, they were underprepared.
However straightforward the process could prove to be, when you are confronted with an abundance of terms and phrases you do not know or understand it is easy to see how it could start to feel like a lonely undertaking, where second guessing yourself or what you are reading becomes the norm. This appears evident in the study reporting 48 percent of these homebuyers admitted they were left feeling anxious, hoping they’d not missed or misunderstood anything important.
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When the stamp duty holiday came to an end, it was expected that the home buying frenzy would tail off, however, prices and demand continue to soar.
There are currently 24% fewer homes on the market than this time last year, with higher than average enquiry levels and interest per property listed.**
Even when SDLT savings dropped from £15,000 to £2,500 earlier this summer, house prices were 11% higher when compared with August 2020, as increased demand led to competitive offers from buyers.*
For August 2021, the average price sat at £248,857. That has risen by 13% since the start of the pandemic, and an increase of £5,000 in the space of one month.*
