The countryside was in hot demand in 2020-21, but cities are now the go-to rental destinations, meaning rural rents are becoming more affordable.
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The demand for 3 and 4-bedroom family homes has peaked as buyers with reduced budgets look for cheaper properties and apartments.
Our Value of Housing report tracks the value of 29 million homes in the UK. Here are the types of properties and locations that are losing value in June 2023.
Our Value of Housing report for 2023 finds that 11.1 million UK properties have fallen in value by at least 1% over the last 6 months.
Two-thirds of homes have gone up in value in the last year. Could yours be one of them?
Falling mortgage rates over H1 2023 boosted sales and led to firmer prices. This is set to reverse in H2 as higher mortgage rates hit buying power at a time when sellers are having to accept larger discounts to asking prices.
After a relatively buoyant start to 2023, recent mortgage rate rises are hitting buying power and more sellers are now offering discounts.
Nearly a third of landlords are being hit by higher mortgage rates, risking a further squeeze on the number of rental homes available.
Annual rental inflation for new lets is up 10.4% year-on-year, with rents taking up the highest proportion of earnings in a decade at 28%. Meanwhile, 51% of landlord sales are happening in London and the South East.
