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Gap narrowing between buyers’ and sellers’ expectations.

In Q4 2019, Savills conducted analysis on its prime regional markets to come up with a list of top factors likely to influence the residential property market in 2020.  Almost three quarters (72%) of Savills regional sales teams identified Brexit uncertainty as a major challenge for 2020, while 54% said that a lack of housing…

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Edinburgh is best city to live in as a young adult.

Comparison site, Compare the Market, recently rated the Scottish capital as the best place to live for 18 to 35-year-olds. The site analysed aspects such as rental costs, living expenses, mental wellbeing and nightlife to come up with the final list.  Manchester, Bristol, Liverpool, Newcastle and Glasgow also made it onto the top 10 list.…

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Britain’s most affordable commuter towns revealed.

On 2 January, Rail fares increased by an average 2.7% across the board, meaning that commuters could be paying up to £132 more for their season tickets this year.  Your location can have a huge impact on your travel costs, as recent research from property website Zoopla has shown. The study combined the average cost…

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Experts’ predictions for 2020 — ‘cautiously optimistic’

The Conservatives’ general election win and increased certainty on the direction of Brexit have led property experts to predict growing confidence in the housing market in 2020. However, their optimism is cautious, according to researchers at Savills who have predicted a 1% rise. The Royal Institution of Chartered Surveyors gave a more confident prediction of…

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Conservatives win a majority.

This election briefing is provided strictly for general consideration only. The information contained in this briefing is produced by TOMD and is based on their understanding of the election results (as at 12/12/19), which may change. For information only. Always seek professional advice before acting. The result is in. Following six weeks of intense campaigning,…

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Postcode lottery in estate agent’s fees

Extract from Redwood Financial’s Property Review November 2019 New research from Get Agent, the online estate agent comparison site, has found that selling your home through a high street estate agent can vary by as much as 261%, depending on your postcode.  The researchers analysed data from over 40,000 branches, listing properties in more than…

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Mortgage broker outlook is confident.

Extract from Redwood Financial’s Property Review November 2019 According to the latest Mortgage Market Tracker survey from the Intermediary Mortgage Lenders Association (IMLA), 91% of brokers said they were either ‘very confident’ or ‘fairly confident’ about the outlook for the mortgage industry.  Executive Director of the IMLA, Kate Davis, said: “Continuing political uncertainty has failed…

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First-time buyer numbers hit a 12-year high

Extract from Redwood Financial’s Property Review November 2019 Numbers of people buying their first home reached a monthly high in August, achieving a level not seen since 2007, before the financial crisis. The average first-time purchaser borrowed £175,361 or around 80% of the property value. The amount borrowed equates to a multiple of 3.52 of…

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Price growth strong in Scotland and Wales

Extract from Redwood Financial’s Property Review October 2019 The latest UK Housing Market Update from Savills, states an expectation that average house price growth will remain flat throughout 2019, revised down from a predicted growth of 1.5%, made in November 2018, under an assumption of an orderly Brexit.  The update states that uncertainty has increased…

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BREXIT saga rumbles on

Extract from Redwood Financial’s Economic Review August 2019 With the second deadline now less than 60 days away, it remains unclear how the Brexit saga is ultimately going to play out, although the chance of a no-deal scenario continues to rise. While efforts to negotiate a new Brexit deal are continuing, the current position is…

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