Spring tips for UK homebuyers
Spring brings more listings and competitive pricing, with 70% of homes listed in February and March completing quickly. Buyers benefit from stable mortgage rates (4.75%) and a wider selection of homes, averaging 51 days to sell. Early preparation, including securing a mortgage agreement, is essential. Researching local prices ensures informed decisions in a competitive market.
One in five UK homes suffer storm damage
Between 2020 and 2024, one in five UK homes suffered storm damage. Extreme weather is increasing, with many households affected. Homeowners are urged to review insurance and take proactive steps, like clearing gutters, to protect against future damage
Data has revealed the most affordable places to live in the UK
Scotland’s Cumnock and England’s Shildon are 2024’s most affordable UK towns. The average home is 3.79x more than the average national household income. Affordability has improved in Southern England, but Beaconsfield remains the priciest area at 12.43 times household earnings
Short-term mortgages – in demand?
Two-year fixed mortgages lead searches at 47.73%, with fixed-rate products accounting for 92.51% of all mortgage searches. Consumers favour shorter terms, likely due to anticipated interest rate reductions. What’s right for you will depend on your personal circumstances and preferences.