News & Updates | Page 3 of 34

As an experienced estate and letting agent based in Rugeley, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Rugeley. In the first 11 days of 2024, the UK property market recorded 22,402 homes sold subject to contract (stc). This figure represents a significant increase compared to the first 11 days in 2023, where only 15,735 properties were sold stc.

Why didn’t Rugeley  House Prices Crash in 2023? As I review the performance of the Rugeley property market in 2023, it's evident that despite the challenges, the housing sector in the town has shown remarkable resilience. At the beginning of the year, many commentators in January 2023 suggested house prices would drop like a stone in 2023. The Halifax thought there would be an 8% drop, Savills suggested 10%, and the respected Nomura Bank 15%, yet according to the Land Registry, they ended 0.5% higher. Looking at the Land Registry figures for Rugeley…

The Rugeley housing market, like many others, has experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. Looking at independent data for the Rugeley area (WS15) …

As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in Rugeley's property market has never been more pronounced.   This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process.

Renting with a Residential Mortgage In the Rugeley area we have a busy rental property market, 'Consent to Let' is a crucial concept for homeowners considering renting out their property. This short guide demystifies the process for homeowners and underscores its importance.

In the ever-changing landscape of the Rugeley property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that significantly impacted household finances, reminiscent of the challenges not faced since 2008. The average rates for fixed-rate mortgages have dramatically risen, notably from late 2021. This hike in the Bank of England base rates has led to a substantial increase in monthly mortgage payments, consequently affecting people's ability to purchase new homes.