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Welcome to my blog

 

Here you can read all my advice, tips and property market knowledge about buying and selling a high value home in the Wisbech Town & Village area

By Alex at Aboda, Feb 1 2018 09:49PM

House prices across the UK increased by 5.1% in the year to November according to the latest UK house price index.


This compares to an annual rate of growth of 5.3% a year ago.


While prices are rising fastest across the West and East Midlands, in the Wisbech PE13 & PE14 area we are experiencing DOUBLE the annual house price growth compared to the national average at 10%!


Click here to view our full report!


And if you'd like to know the TRUE current value of YOUR home - do get in touch!


Alex



By Alex at Aboda, Jan 2 2018 07:46PM

Just wanted to share with you my top tips and trends on the national & regional property market and in my local Wisbech PE13 & PE14 area of Cambridgeshire, Norfolk & Lincolnshire.


HEADLINE THIS MONTH: Wisbech PE13 & PE14 home values are still up 9% annually compared to national increases of just 4.5% - despite a decline of 16% in transaction volumes annually in the local area - and up 35% over the last five years! (see pages 2 & 3 of the report at the link below)


Why??? - this is likely to be due to the continued imbalance of lower numbers of available homes for those buyers looking to move around and into the local area


Take a look at the full report at the link below


CLICK HERE TO READ ON ISSUU


It's a brief yet informative summary of the key market data and trends affecting the national property market and economy and what's going on locally in my area.


I hope you find it useful and informative!


Please let me know if you wish to discuss anything about the market or your home - I'm always happy to help!


Thanks - Speak soon!


Alex


By Alex at Aboda, Nov 22 2017 09:52PM

The Chancellor has announced that stamp duty is to be abolished for all first time buyers on properties bought up to £300,000, effective from today. In addition, first time buyers purchasing properties up to £500,000 will pay no stamp duty on the first £300,000.


In his Budget, Philip Hammond announced that 80% of first time buyers would pay no stamp duty at all. With 358,000 first time buyers in the last year, this means that at least 24% of all sales in the UK’s housing market are set to be charged 0% tax. Once other exempt sales under £125,000 are taken into account, this figure will be even higher.


Two thirds of properties bought so far this year across the country have been under the new threshold but there are large regional variations. In Wales and the North East, over 90% of sales in the last year have been over £300,000 while just 17% of sales in London were for less than £300,000.


While good news for first-time buyers, this will further squeeze investors in the sub-£500,000 market who are already suffering from increased taxes. What's more, it does not, give any encouragement to owners higher up the chain to downsize.





By Alex at Aboda, Nov 5 2017 07:35PM

For the first time in more than ten years, the Bank of England have raised interest rates. But, there is no need to panic, the new rate of 0.5% still remains the second lowest rate on record.


While a number of banks and building societies have already announced that they will pass on the rate increase to borrowers, the impact of a rise will be minimal.


UK Finance report that over the last two years, over 90% of new mortgage and re-mortgage loans have been on fixed rate deals, and over half of all outstanding mortgage loans are now on fixed rate deals.


But for the 5 million borrowers on variable rate mortgages, some increase in their monthly mortgage is to be expected.


Nationwide estimate that the 0.25% rise will increase the monthly mortgage bill by £22 for home owners with an average £175,000 mortgage on their base mortgage rate deal.


However, since the introduction of the Mortgage Market Review in 2014, new borrowers from April 2014 are more prepared for a rise than they might have been in the past.


UK Finance estimate that, of mortgages lent since 2015, 92% were stress tested for an interest rate of at least 3% above their current rate - protecting those borrowers, lenders, and the housing market, from any shock to the system from this small increase in interest rates.


Historically, however, any hints of an interest rate rise have usually encouraged a flurry of home purchases from people looking to secure their home now, before any further rate rises occur.


So...if you are considering a home move in the near future, perhaps we should talk sooner rather than later!


You can contact me any time you wish to discuss your plans for moving home - I will always be happy to help and offer advice


Speak soon


Alex


By Alex at Aboda, Oct 30 2017 10:03PM

House prices


House prices across the UK rose by 5.0% in the 12 months to August according to the ONS, up 0.5% on the revised figure for July of 4.5%.


Economy


The UK economy appears to have held its own over Q3 2017: latest data shows the economy grew by 0.4% over the quarter to end September which is exactly in line with the average quarterly growth rate over the last 3 years. This equates to a solid annual economic growth of 1.5% (latest quarter on the same quarter a year previous).


Transactions


There were 100,850 residential property transactions across the UK in September according to the HMRC, the ninth consecutive month of over 100,000 sales. Transaction volumes have fallen marginally over the past few months with September seeing the lowest monthly total since May.


Demand


The level of mortgage approvals dipped slightly in September although remortgaging figures picked up, indicative of an anticipated rise in interest rates. While lower than in August 2017, the number and value of loans were both higher than a year ago.


Investment


Average rents across Great Britain rose by 1.6% in the 12 months to September, unchanged from the growth recorded in the year to August. The East Midlands region is currently seeing the strongest annual growth in average rents at 2.9%, followed by the South East 2.5%.


Local Market


Over the last 12 full months there have been 886 sales in Wisbech PE13 & PE14. This is a −5% change on the previous 12 month period. The average sales price was £175,603.


We'd love to hear from you at our branch. Get in touch!


Alex Doggett

03333 440773

alex.doggett@abodahomes.com

Aboda Homes

The Elms, High Road

Wisbech St Mary

Wisbech

PE13 4RA








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