Second home sales have fallen off a cliff, a new analysis of property transactions has revealed, with higher mortgage rates and a council tax crackdown pushing the pandemic-fuelled holiday home boom into reverse. A record 26,290 second properties were purchased in 2021 as homeowners spent their lockdown savings and … [Read more...]
The Death of the Landlord
Spring is property auction season, when a motley collection of semi-derelict houses, flats with leases in the single figures and the homes of mortgage defaulters get sold off. This year, though, a scan of the catalogues of some of the UK’s leading property auction houses reveals a new class of property under the … [Read more...]
How the Bottom Fell out of the Country House Market – Again
As trophy homes go, the Grade II*-listed Glen Usk is hard to top. Set on the west bank of the River Usk in Wales, it is a white rendered neoclassical fairy-tale of a Georgian country house and its current owners have thoroughly renovated the eight-bedroom home, set in 35 acres. At the tail end of 2021 it went on the … [Read more...]
Saying Goodbye to Their Ancestral Homes Is a Necessary, Yet ‘Terribly Sad’ Affair
Skyrocketing energy prices and the upkeep of such a large properties is forcing some U.K. homeowners to sell estates that have been in their families for generations. Roderick Thomas has vivid childhood memories of days spent rampaging around Boulston Manor, his grandparents’ late-18th-century country home in Wales, … [Read more...]
Where cash buyers are snapping up discount properties
Huge interest rate rises have given cash buyers an even bigger advantage over borrowers. The share of cash buyers in the property market has risen to its highest level in eight years. Almost 40pc of purchases have been completed using cash so far in January, the highest monthly share since December 2014, when … [Read more...]
Here’s how we weathered the stormy property market
It has not been a great time to try to get on or up the ladder, but there are things you can do to beat the tough conditions. Homebuyers are facing tough times as runaway inflation, rising interest rates and government turmoil wreak havoc on the property market. Mortgage deals are becoming more expensive or being … [Read more...]
The high-risk cash buyer strategy that wins when house prices are falling
Factors to consider before you sell up: "Strategic view the "sell first, buy later" strategy works particularly well if you have something sought after to sell - a home with a sea view, say - and are looking for something more everyday such as a turn key apartment"; according to Carol Peett of West Wales Property … [Read more...]
West Wales Property Finders Look Into Their Crystal Ball at the 2023 Property Market
Properties in Pembrokeshire had an overall average price of £246,821in 2022 and sold prices in Pembrokeshire were 24% up on the 2019 peak of £199,843 according to Rightmove. In Carmarthenshire property prices rose 23% and in Ceredigion 32% from their peak in 2019. Demand, particularly for smallholdings and coastal … [Read more...]
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