moving home for the first time

House prices took a dip in March, marking the first decline in six months, as per the latest figures from Halifax. The lending institution reported a 1% decrease in prices, attributing it to the impact of higher mortgage rates on affordability for potential buyers. On average, house prices dropped by approximately £2,900 to £288,430. Nevertheless, Halifax noted that despite the monthly decline, house prices were still higher compared to the previous year. March showed a 0.3% increase in prices from the same time last year, although this was a slowdown from the 1.6% annual rise witnessed in February. Kim [...]

Ipswich has been revealed as an up-and-coming location for first-time buyers in the Halifax report (October of 2023). With an average first-time buyer purchase price of £249,338, this means buyers are paying -25% less than the regional average (e.g. NW, East Midlands, Scotland, Wales etc.). So, what are the qualities that make Ipswich so attractive, and a place young people gravitate towards? It’s stated in the Halifax report that the number one priority for first-time buyers is affordability. Maintaining a price less than the regional average naturally increases demand from buyers as they feel their money is going towards [...]

Are you considering putting your home on the market? Spring might just be the perfect time to do so! As the weather warms up and nature bursts into bloom, here are five compelling reasons why listing your home for sale in spring could be a fantastic decision: Ideal Weather: Spring brings with it mild temperatures and longer days, providing the ideal backdrop for showcasing your home. With sunshine casting a warm glow on your property, potential buyers will be able to appreciate your home's exterior and landscaping in its best light. Kerb Appeal Blooms: One of the undeniable charms [...]

The proposal of stamp duty cuts by the government has created considerable debate among experts, leaving many home buyers and sellers giving thought to the potential implications. While opinions may vary, it's evident that grasping the outcomes of these cuts is vital for anyone contemplating a property transaction in the near future. If implemented, stamp duty cuts could offer home buyers a chance for savings on their property purchases. By reducing the upfront costs associated with buying a home, these cuts would effectively lower the barrier to entry into the housing market, potentially making homeownership more accessible for many [...]

The demand for home ownership in the housing market has been on the rise, offering an alternative path to homeownership for many individuals. Recognising the need for better-informed decisions in this complex process is a significant development that has taken place with the establishment of the New Shared Ownership Council. This council aims to empower people seeking shared ownership, ensuring they have the knowledge needed to navigate this unique homeownership opportunity. In this blog post, we will delve into the role of the New Shared Ownership Council and how it contributes to a more informed homebuying experience, we will [...]

While many people are decorating Christmas trees and wrapping presents, some homeowners might be wondering if it’s a good time to put their house on the market. The answer is yes! Contrary to popular belief the festive period is an excellent time to list your home for sale. In this blog, we will delve into all the reason why listing your home now is a great idea and how many studies have shown a surge in people actively looking for homes on Boxing Day. Many sellers wait until spring or summer to list their properties as they believe this [...]

Have you heard of the term ‘title guarantee’? This is usual in conveyancing transactions, where the seller will sell their property with a ‘full’ or ‘limited’ title guarantee. During this process, it is important to be aware of this and the potential consequences that may arise. There are three types of title guarantee; Full title guarantee, Limited title guarantee, and No title guarantee This blog will provide reassurance on the meaning of the three types of title guarantee. Full title guarantee; Essentially, this maintains that the seller observes the right to sell the property. The seller will dispose of [...]

Conveyancing is the process of legally transferring property ownership from one party to another. Searches in conveyancing provide essential information about the property being bought or sold, helping both buyers and sellers make informed decisions. What are conveyancing searches? Conveyancing searches involve the thorough investigation of various aspects related to a property and its surrounding environment. These searches provide critical information that helps both buyers and sellers make informed decisions throughout the transaction. A property search normally takes between 2 and 8 weeks to complete, but every transaction is different and can be longer or quicker. Local authority search [...]

Breaking News! The Bank of England have confirmed that interest rates will remain the same, which is a welcomed announcement for the property market. Interest rates have been gradually rising year on year since COVID, making mortgage repayments more expensive and slowing down the housing market as a result. Since 2020 the average interest rate has risen from 3.11% to 5.25% in 2023, with the Bank of England raising interest rates over 13 times. Thankfully the Bank of England finally hit pause in August of this year and the interest rate has remained at 5.25%. This recent announcement means [...]