Property Prices
How do interest rates affect the property market?
Property PricesThe Guild20th June 2024Why is the interest rate so important for the property market and homeowners? The fact is that there are only a handful of people who can purchase a property with cash. Most homeowners and potential buyers will be mortgage-dependent and therefore will require financial assistance from a lending institution to buy a home. As a result, the interest rate will affect most homeowners at some stage of their lives in some way. The Bank Rate, which is determined by the Monetary Policy Committee, is the most important interest rate in the UK. It determines the interest rate the Bank of England will pay to commercial banks to hold money. It influences the rates those banks charge people to borrow money. As the majority of the population is mo...
Then and Now: Guild Members Through the Decades
Property PricesThe Guild26th May 2022As Her Majesty The Queen celebrates her unprecedented 70 years on the throne with her Platinum Jubilee, we want to look back on how much the UK Housing Market has changed from when her reign began in 1952 to the present day. 70 Years Ago In the 1950’s, according to the Nationwide House Price Index, the average price of a house was around £1,891 (which is estimated to be approximately £65,000 in today’s money) as the average salary was roughly £10 a week, so buying a property was quite the task back then. Ken Bird, Owner & Managing Director at Renton & Parr, a Proud Guild Member established in 1952 in Wetherby, says; “Renton & Parr are one of only two names that remain in Wetherby over the last 70 years. Other independents at the time ei...
Should you buy, sell or trade up before Brexit?
Property PricesThe Guild19th October 2018There is no doubt that Brexit has already had an impact on the property market with many adopting a wait-and-see approach until the final deal has been made. As March 2019 and a final decision edges closer, many people are wondering whether they should take advantage of the current situation and buy or trade up, while house prices have subsided. On the other hand, some people are conscious that a hard Brexit could see the housing market slow down and are trying to decide whether now is a good time to sell. We asked Members of The Guild to give their advice about what they think homeowners should do. Here’s what they said: It remains a case of supply and demand Andy Goundry of Goundrys said: “Interestingly, where we are in Mid Cornwall...
House Prices in the South East
Property PricesThe Guild7th June 2017As part of our property spotlight series, we look at the South East Region considering average house prices, number of sales and the size of the market around the country. Using figures from Land Registry House Price Index data to give an indication of the region’s housing markets, below are 20 top areas with statistics on the total value of all property transactions in the past year. Market snapshot: The district with the largest market is Brighton & Hove which saw £1,590m worth of transactions in the year to January 2017. This was followed by Elmbridge with £1,304m worth of sales over the same period.The district with the highest overall average house price were South Bucks where prices sit at £605,000, which is 164% abov...
London House Prices
Property PricesThe Guild30th May 2017As part of a series of property spotlights, we take a closer look at London. In the series, we consider the average house prices, number of sales and the size of the market around the country. There is no one measure which provides a complete picture of the UK market, however using figures from Land Registry House Price Index data which provide an indication of the region’s housing markets, here are 20 top areas with statistics on the total value of all property transactions in the past year. Market snapshot: The district with the largest market is Wandsworth which saw £2,568m worth of transactions in the year to January 2017. This was followed by Kensington and Chelsea with £2,190m worth of sales over the same period.The d...
House Prices in the Eastern Region
Property PricesThe Guild24th May 2017The Guild take a look at the West Midlands region as part of a series of property spotlights. In the series, we touch on the average house prices, number of sales and the size of the market around the country. There is not a single measure which provides a complete picture of the UK market, however with figures from Land Registry House Price Index data to give an indication of the region’s housing markets, here are 20 top areas with statistics on the total value of all property transactions in the past year. Market snapshot: The district with the largest market is Bedfordshire which saw £1,511m worth of transactions in the year to January 2017. This was followed by St Albans with £1,132m worth of sales over the same period.Th...
