News & Updates | Page 15 of 34

The Rugeley housing market over the last three months is now becoming more ‘normal’ after the last couple of years of insane demand when the lockdowns started a race for space! Even with the blackening economic doom-mongers forecasting a harsh slowdown in the British property market, the number of people buying and selling their homes is still very good for the time of year. Whilst many homeowners are reducing their asking prices, it is not the 20% (some even said 30%) drop some property commentators and newspaper journalists had predicted. Looking at the stats for Rugeley for the last three months since the disastrous Truss mini budget – they make good reading.  

More Rugeley homes are now coming up for sale. This is excellent news for Rugeley homebuyers and Rugeley landlords because as properties are no longer flying off the shelf as they did last year, the number of properties available to buy is beginning to return to long-term averages. This means there is greater choice for Rugeley buyers and this will reduce the pressure on Rugeley house prices and return us to a more normal Rugeley housing market for buyers (and sellers).

Falling Rugeley House Prices The Winners & Losers   The doom and gloom of the national newspaper headlines regarding the UK property market would make you think Armageddon has arrived, this being the second most interesting topic to the Brits ( the first being the weather! ).   So, what is happening in the British property market? As with most things in life, the devil is in the detail.

To answer that big question in the title of the article (is now a good time to buy a Rugeley home?), it comes down to three things.   How much will you get for your Rugeley home when you sell it? How much will you have to pay for your new home? How much will that move cost you in ongoing monthly mortgage payments?   To answer points 1 and 2 correctly, I need to address point 3, which relates to interest rates.

The number of properties available to rent in Rugeley has dropped from 85 to 47 since February 2020 The average rent a tenant has had to pay in Rugeley has risen from £657 to £854 since February 2020 Many Rugeley landlords have cashedin on the post-lockdown property boom of the last 2 years and sold their properties to owner-occupiers and not fellow landlords The supply of Rugeley rental property isn't nearly what it needs to be, which is of benefit to landlords not tenants The Rugeley rental property shortage is currently very evident. In this article, I will investigate why there is such a significant lack of homes available for rent across Rugeley and what it means for buy-to-let investors.

I often get asked what is going to happen to Rugeley house prices. Many things affect house prices, and it comes down to simple supply and demand. On the supply side of the equation, in the short-term, the number of people wanting to sell their property at any one time has a massive effect on house prices.