As we proceed into 2025, UK property information continues to assert the headlines throughout a lot of the press. Let’s take a short look behind a few of these tales to look at the state of the housing market because the yr begins and supply clues about the remainder of the yr forward.
UK housing market “begins new yr with a bang”
The yr has began with a surge within the variety of properties showing in the marketplace, reported the Guardian newspaper not too long ago. There have been some 11% extra properties marketed on the market throughout this January than in the identical month final yr.
Heralding what is anticipated to be an particularly energetic market, the newspaper cited on-line listings web site Rightmove’s findings that common costs have additionally registered a notable leap ahead. A typical residence was listed on the market at £366,189 throughout January – a 1.7% enhance of £5,992 and the largest spurt in costs to start out any new yr since 2020.
Elevated confidence on the a part of potential consumers might assist to elucidate this renewed buoyancy available in the market. As rates of interest have already fallen to a point, consumers look like taking consolation from the prospect of additional cuts in rates of interest mixed with a attainable fall within the charge of inflation to 2.5%.
Regardless of these opening strengths of the market, common home costs nonetheless lag as much as £9,000 decrease than the all-time information achieved in Might of final yr.
15m properties gained £7,600 in worth over 2024
The New Yr’s overview of the housing market by on-line listings web site Zoopla on the 15th of January revealed that half of all UK properties – that’s round 15 million dwellings – elevated in worth by £7,600 or extra in the course of the course of final yr.
Not all properties fared so nicely, after all. Round one-third of properties – largely within the southeast of England – noticed a slight drop in worth as a result of the upper price of borrowing had decreased buying energy.
The general impression on costs throughout all 30 million properties was calculated as a median enhance of £2,400.
Probably the most sluggish of will increase – with simply 36% registering an increase in costs – have been in properties within the south of England; 62% of these within the north of the nation and Scotland noticed will increase; whereas 70% of these within the northeast gained in worth. The very best beneficial properties – of a median £4,400 – have been seen within the northwest.
The newest on the Renters’ Rights Invoice because it strikes to the Home of Lords
On the 14th of January, the landlords’ foyer group Propertymark criticised numerous amendments to the Renters’ Rights Invoice because it passes up from the Home of Commons to the Lords for additional scrutiny. Particularly, it argued in opposition to the proposals to:
- restrict to 1 month the quantity of lease landlords might cost tenants upfront;
- prohibit the power of landlords to repossess student-let property;
- charges raised from landlords getting used to fund the proposed new non-public rented sector Ombudsman; and
- the creation of a register of landlords and the upkeep of a landlord’s database.
Propertymark is anxious that whereas the amendments would possibly seem to favour tenants, within the longer run the disincentives for landlords may end in fewer and costlier properties within the non-public rented sector.
Petition calls for EPC equality for personal rental properties
A narrative in Landlord As we speak final month described a petition to the Home of Commons by a non-public sector landlord calling for the strict vitality effectivity necessities for rental properties to be utilized to all varieties of housing – regardless of the tenure.
The petitioner is making his bid following affirmation from Ed Miliband the Power Secretary that each one properties within the non-public rented sector might want to have an Power Efficiency Certificates (EPC) score of C – or higher – by the yr 2030.
