Latest Property News | Warwick Estate Agents

Details: Published: 26 March 2025; Hits: 322

Chancellor Rachel Reeves will deliver her first Spring Statement today and there are hopes for much-needed housing market support.

Reeves is facing the pressure of low economic growth and high inflation and while no major tax changes are expected, her policy plans could hit the market.

Timothy Douglas, head of policy and campaigns at Propertymark, said: “With housing playing a key part in the UK Government’s plan for change, the Spring Statement must ensure government policy protects the delivery of more social and affordable housing and local authorities have the resources they need across planning, enforcement and infrastructure.

“Policymakers must also fully understand the need to reform housing benefits so they reflect real rental costs, and the UK Government must continue to target resources to tackle the cladding crisis and improve building safety to help boost economic growth.”

With Stamp Duty set to increase from 31 March, reverting to pre-September 2022 thresholds, Jonathan Handford, interim managing director of Fine & Country is urging the Government to reconsider.

He said: “As one of the few tools available to stimulate the property market, he believes Stamp Duty should be reduced rather than increased.

“At a time when borrowing costs remain high, the additional burden of Stamp Duty acts as a deterrent, discouraging homeowners from moving.

“For many would-be movers, particularly families looking to upsize or older homeowners considering downsizing – the upfront tax cost is simply prohibitive.

“Reducing Stamp Duty would not only make it more affordable to move, but the resultant increase in transaction volume would likely offset any shortfall in per-transaction revenue for the Treasury. More importantly, it would deliver a significant boost to the broader economy.”

He is also calling for the Government to reintroduce a modernised Help to Buy Scheme.

Details: Published: 26 March 2025; Hits: 246

Vida Homeloans, a specialist lender, has made a number of enhancements to its product ranges, including reductions to its Residential products by up to 0.30% and Buy-to-Let products by up to 0.54%.

They have also announced a refreshed Fee Saver range with new products across Residential and Buy-to-Let, available for standard, HMO/MUB, and Expat cases. Additionally, they have decreased the minimum loan size to £150k for Buy-to-Let Limited Editions, allowing landlord customers more options for lower-value properties.

Ross Williams, head of mortgage product management at Vida, comments: ‘We’ve seen swap rates in the market drop over the course of January. We always endeavour to pass these savings on to our potential customers through rate reductions across our ranges.’

Vida has also expanded its list of accepted Scottish postcodes, now including 14 additional postal codes.

Meanwhile United Trust Bank mortgages has announced significant rate reductions across its Buy-to-Let mortgage product range with reductions of up to 176bps.

The specialist lender is particularly keen to attract more HMO, MUB and holiday let business with 5-year fixed rates for single dwelling AST products starting from just 4.99% and HMOs/MUBs from 5.29%.

Highlights include:

Standard (single dwellings on an AST)

• 2yr Fixed Rates from 5.69%

• 5yr Fixed Rates from 4.99%

Specialist (HMO and MUB up to 10 rooms/units)

• 2yr Fixed Rates from 5.69%

• 5yr Fixed Rates from 5.29%

Non-Standard (Holiday Lets)

• 2yr Fixed Rates from 5.89%

• 5yr Fixed Rates from 5.94%

UTB mortgage director Buster Tolfree says: “It has been a bumpy couple of years for landlords and BTL brokers with the sector having to deal with higher interest rates, tougher EPC requirements and uncertainty created by the Renters Rights Bill. However, in our experience landlords are a resilient bunch and with good quality rental property still in short supply, it’s a sector we’re committed to supporting for the long term. As a prominent lender in the specialist BTL space, we feel obliged to lead from the front.”

And Principality Building Society is implementing reductions across residential and Joint Borrower Sole Proprietor (JBSP) mortgages, with cuts of up to 0.29% on residential products and 0.35% on JBSP mortgages.

But selected rates will increase, including a 0.02% rise on some two-year fixed products.

And finally Roma Finance has launched RomaPRO, a buy-to-let product aimed at property investors and developers.

RomaPRO, suited for special purpose vehicles, offers loan sizes from £75,000 up to £2m. The product targets transitions from development projects, refinancing, or new acquisitions.

Key features of RomaPRO include commercial rates linked to the Bank of England base rate, top-slicing options, and suitability for HMOs, MUBs, holiday lets, and serviced accommodation.

Now available on Brickflow, a digital marketplace for property finance, this partnership allows brokers and borrowers to compare Roma’s offerings with other lenders.

The integration with Brickflow also enhances the process for brokers by simplifying funding proposals and opportunities to expand their services.

Details: Published: 06 March 2025; Hits: 419

The arrival of HS2 in west London is creating a new investment hotspot worth £10 billion to the local economy, it’s claimed.

The study, commissioned by HS2 Ltd, shows that construction of Old Oak Common station is driving a transport-led regeneration of the area, helping to create thousands of new jobs and homes over a 10-year period.

It claims planning applications in the 1.5-mile radius around the station site have increased by 22% since Royal Assent for HS2 was granted in 2017, and that HS2 will support the generation of over 22,000 new homes and almost 19,000 new jobs in the local area.

The study, carried out by the consultancy Arcadis, said that the promise of the new station had “galvanised investors, boosting confidence in the positive legacy high speed rail will create locally.”

HS2’s Old Oak Common station will be a super-hub linked to over 100 stations across the UK. The 14-platform station will be served by HS2 services as well as Great Western Mainline, Heathrow Express, and the Elizabeth Line – becoming the 42nd stop on the new London line.

HS2’s new station sits within the economic development zone where the Old Oak and Park Royal Development Corporation (OPDC) is delivering its masterplan for a new district in west London.

OPDC covers an area of 650 hectares and is working to maximise the regeneration opportunities, creating a positive legacy for communities.

An OPDC spokesperson says: “With some 70 acres of development land around the new HS2 station, we have plans for 9,000 new homes and 11,000 new jobs plus new high streets, workspaces, parks and community infrastructure, bringing huge improvements for local communities and substantial growth for the wider London economy.”

London property developers, City & Docklands, have already invested in the area, opening One West Point, London’s tallest residential tower outside of Canary Wharf, in 2022. As London’s 16th tallest building, the new development boasts 701 apartments, with extensive landscaped gardens, courtyards, and roof terraces.

Since its completion, City & Docklands has delivered a further 241 build-to-rent homes at Mitre Yard, together with the delivery of 208 units at adjacent development North Kensington Gate in May, 10 minutes’ walk from Old Oak Common station and has plans for more in the local area.

Imperial College London – a global top 10 university in West London – has identified Old Oak as an innovation zone. Imperial owns four sites, including One Portal Way and Victoria Industrial Estate, purchased in 2024 and announced as part of the UK Government Investment Summit.

The effect of transport led economic activity in the capital is not new – with the recently opened Elizabeth line being directly linked to the development and delivery of 55,000 new homes. Even now, after the line is fully operational, TfL predicts further development in areas connected by the brand-new line, including at Old Oak Common.

Details: Published: 18 February 2025; Hits: 383

More than 140,000 properties were listed for sale in January, the highest number on record for a decade – data from TwentyEA has found. 

The figures showed that supply was running at 7.3% higher than January 2024. This year-on-year growth was seen across all price bands, with the strongest rise of 12% seen for properties within the £350k to £1m price bracket. All UK regions saw an increase in supply with Inner London and the East Midlands leading the way with 11.3% YoY growth. 

In terms of demand (sales agreed), January 2025’s volume was just under 100,000 which is the highest level seen since January 2021 and is much higher than January 2024 by 17.1%.

All UK regions saw an uplift except for Northern Ireland. The strongest growth rate was seen in the East Midlands (27.2%) and the East of England (26.8%) while all price bands benefitted, with the largest YoY growth in the £350k – £1m (28%) price bracket, followed by £200k – £350k (18%). 

Katy Billany, executive director of TwentyEA, says: “Last year, two interest rate cuts and expectations of more to come boosted consumer confidence in the property market. Total transactions for 2024 exceeded 1.1 million, marking a 7.3% increase from 2023. The surge in supply and demand since January 2025 began, coupled with an additional rate cut, is great news for estate agents who have started the year with expanded portfolios and strong sales prospects. We believe growth in transactions will continue well into the year.

“While both demand and supply have increased across all property types, there are still notable nuances in the market. Houses, especially detached ones, are seeing growing popularity. The demand-to-supply ratio for this type of home has risen by 18.4% compared to the previous year, while for flats, it has decreased marginally since January 2024.”

The average original instruction price in January has fallen by 0.6% in the last year but risen by 24% since 2019. On a regional basis, instruction prices continued their 2024 trend and increased in the North and Midlands, while prices in the south were static or falling.

The North East had the largest instruction price increase year on year (9.9%) while Inner London was the only region to see year on year prices fall by more than 1% (-13.9%).

Price reductions on advertised properties were a key feature of the property market in 2024 and this trend has continued into 2025. In January alone there were more than 93,000 price reductions – the largest amount on record – however this was most likely related to the increased volume of supply. In January 2025, 36.6% of concluded listings had at least one price reduction but in January, this was slightly higher at 38.5%. 

Billany adds: “Compared with last year, the price reduction rate in January 2025 reduced in all price bands and in all regions (except for Wales) which is possibly a sign that some sellers are becoming more realistic and accepting that mortgage costs remain high.”

The time to sell in January 2025 increased to an average of 90 days which is the longest period observed in the last six years and 7.6% higher than January 2024 when it was 83 days. Every price bracket has been affected and on average, it now takes 127 days to sell a property for £1m+. 

Most UK regions except for Northern Ireland and the North East, have seen the time to sell increase. The South East observed the largest YoY increase of 14% (+11 days). 