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The Property Skinny

Jul 24, 2023

Welcome to The Property Skinny, where we bring you the latest updates and insights on the UK property market. In this edition, we will delve into key developments, trends, and opportunities that have emerged in the past week. Let's dive right in!

1. Market Snapshot:

   - Property Prices: The average property prices across the UK have seen a steady increase of 2.5% over the past month, driven by strong demand and low mortgage rates.

   - Regional Spotlight: The South West and the North West have experienced notable growth, with prices rising by 3.2% and 2.9%, respectively.

   - London Update: The London market has shown signs of recovery, with a 2% increase in prices compared to the previous quarter.

2. Stamp Duty Holiday Extension:

   - Good news for homebuyers! The government has extended the stamp duty holiday until the end of the year. This move is expected to provide continued support to the property market and encourage more transactions.

3. Rise of Remote Work:

   - With the rise of remote work, there has been a noticeable shift in property demand. People are increasingly seeking larger homes with dedicated office spaces and outdoor areas. Suburban areas and countryside properties are gaining popularity among buyers.

4. Affordable Housing Initiatives:

   - The government has announced new initiatives to boost affordable housing in the UK. This includes incentives for developers to build more affordable homes and improved access to mortgage schemes for first-time buyers.

5. Sustainability in Property:

   - Green and sustainable properties are gaining traction in the market. Buyers are placing more emphasis on energy efficiency, eco-friendly materials, and access to green spaces. Developers are responding by incorporating sustainable features into their projects.

6. Rental Market Update:

   - The rental market remains robust, with a surge in demand for suburban rentals. Tenants are prioritising larger properties and proximity to green spaces. Landlords are advised to consider these preferences when marketing their properties.

7. Property Investment Opportunities:

   - As the market continues to evolve, there are several investment opportunities worth considering. Areas with upcoming infrastructure projects, such as improved transport links or regeneration schemes, hold potential for long-term growth.



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