House prices fell annually for the second month, but the market remains more resilient than expected.
The Land Registry reports the average house price fell 1.2% annually in Oct, with the average house price now at £287,782. Looking forward, the local market looks promising!
Tax System Deters BTL Landlords…
NRLA said 71% of landlords reported increased tenants demand in Q3. To address the imbalance, they suggested removing the 3% stamp duty levy to increase supply by 900,000 homes over 10 yrs.
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New Build Demand Hits Record Low!
The Fed of Master Builders reports demand at its lowest since 2015, with the planning system being the top major barrier, followed by issues with mortgage lending.
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'99 construction startups were established in Chesterfield in 2022, 10% more than 2021 (90) and 55% higher than 2012 (64).' https://t.co/6vprr6dzIq @dom_stevens#CIS23
Latest Nationwide house price index shows a 5.3% fall in the year to September.
The economic affects of the last three years are now beginning to have a market impact, as it returns to more normalised market conditions.
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Wishing the Spireites The Very Best Of Luck Today at Wembley and a safe journey to all those travelling, from all the Team at Lime Living Estate Agents!
COYB!!!
🔵⚪⚽
A pleasure to attend the launch for the new Grade A office building down on Waterside Place. With two floors already let, it’s positive signs for commercial business in the town!
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Latest Halifax house price index reports house prices fell for a fourth month in a row. Growth down by -1.5% in December.
Industry feedback puts this down to buyers being more cautious and a reduction in supply.
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