This is a summary of the latest update issued by Zoopla, which we think will be of interest to Landlords and property investors.
Average UK house prices rose by 0.9% in the three months to January, taking the annual growth rate to 7.8%, down from 8% in December. Statistics showed that 2021 was the busiest year in the housing sector, which contributed to the price growth; there are signs now that price growth is starting to ease.
The data collected by Zoopla shows that in late February, buyer demand for homes was 70% above the five-year average, and the total stock of homes available for sale was 43% lower.
However, the recovery in the levels of new supply is gathering momentum. In some regions, including the East Midlands, new listings over the last two months exceeded levels seen in 2017-2020 over the same period, signalling a turnaround in supply.
The house price index shows that for Nottingham, the annual % change in house price is up by 9.1%.
Other stats for Nottingham show:
This year, rising economic headwinds, including the increasing cost of living and increasing mortgage rates, will start to put the brakes on house price growth. The global uncertainty and volatility resulting from the invasion of Ukraine will have economic impacts around the world, including the UK.
We continue to expect 1.2 million home sales this year, down from 1.5 million in 2021, and that average house price growth will be between +2% and +4% at the end of the year.
If you are a landlord or a property investor and you would like some support with managing your portfolio, please do contact us by calling 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it.
We are running an online webinar that may be of interest to you. This is free to attend; click here to book on - Managing your property portfolio effectively.
Haidee is our Personal Tax Director and is a fully qualified tax adviser, having achieved the ATT qualification in 2006. Tax efficiency being her main concern. Specialising in taxation, Haidee provides clients with advice on personal tax, PAYE services, VAT and social security. She also provides guidance to new start-up businesses.
Call us today on01623 490120
or email info@watsonk.co.uk
When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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