News & Updates | Page 34 of 43

The number of properties for sale in Rugeley has fallen by 72% since this time two years ago (October 2019). One of the reasons is that many Rugeley buyers feel overwhelmed and fearful they will be made homeless if they sell their home and can’t buy another. So, I have decided to look again at the facts and give them to you in greater detail in this article.

How will these effects change the Rugeley rental market, and the rents tenants have to pay? If you are a Rugeley homeowner or Rugeley buy-to-let landlord, or thinking of becoming either, this article is for you.  

A recent report by Legal & General stated that, since the pandemic, many older homeowners had put their plans to move home 'on ice'. It said that fewer OAP homeowners are planning to downsize from their large family homes after the pandemic made them realise the actual value of their local community and space. 

With Rightmove announcing a national drop of 0.3% in average asking prices in August, some are asking if the steam has been let out of the property market. Yet with the gains we have seen in the last 12 months, is this just a minor bump in the road? Alarm bells normally ring when new homeowners coming to the market for the first time are having to lower their initial asking price when compared to the market as a whole.  So, what is actually happening in the national and local property market to asking prices and the number of properties for sale, and where does that leave Rugeley homeowners and Rugeley landlords?  

Should you sell or should you buy in this most interesting property market?  

The bungalow is a building that has represented a more leisurely, gentler way of life since the early 1900’s. Bungalows have been sold as an aspiration for those about to retire, saving them the annoyance of having to climb stairs. With an ageing population, one would think they would be building more bungalows, yet nothing could be further from the truth. In fact, this could be one of the main issues that is holding back many mature homeowners moving home thus creating a bottleneck in the Rugeley property market for the younger families who are being held back and unable to move into the larger homes they so need to grow their families.