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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, 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








By Alex at Aboda, Oct 2 2017 07:46PM

Wisbech home values are still up 8% over the last 12 months and up 31% over the last 5 years - continuing to out-perform the national average of 5% over the last 12 months despite an 11% decrease in local transaction levels in the Wisbech area


Mortgage approvals have spiked by 11% nationally possibly by the impending interest rate hike


House prices across the UK rose by 5.1% in the 12 months to July according to the ONS, unchanged on growth in the year to June. Average prices are currently rising most strongly in the East Midlands which has seen 7.5% growth in the last year.


Mark Carney, the Governor of the Bank of England has indicated that interest rates will rise in the "relatively near future". Interest rates have remained at their historic low of 0.25% for over a year despite rising inflation. The Monetary Policy Committee who set interest rates will next meet on 2nd November.


1.09 million property sales took place in the year to end of March 2017, netting the Treasury £8,590 million in Stamp Duty Land Tax revenue. Revenue was up 11% from 2015/16 while transaction levels were down 8%. A substantial part of the increase is the impact of the 3% additional levy for second properties introduced on 1st April 2016, which contributed £1,705 million.


Mortgage approvals recorded a substantial annual increase of 11.3% in July, however this increase should be viewed with caution as it compares with the period immediately after the UK voted to leave the EU. Approvals were up 5.2% on June levels, however, suggesting a greater stability in the market than some expected to see.


Average rents across Great Britain rose by 1.6% in the 12 months to August, slightly down from the 1.8% growth recorded in the year to July. As well as currently seeing the highest rates of annual house price inflation, the East Midlands region is currently seeing the strongest annual growth in average rents at 2.8%.


Over the last 12 full months there have been 1,035 sales in Wisbech PE13 & PE14. This is a −11% change on the previous 12 month period. The average sales price was £172,034.


53% of homes sold were detached and 83% of homs sold were less than £250k


READ OUR FULL REPORT HERE

By Alex at Aboda, Sep 26 2017 08:11PM

Research by the Resolution Foundation think tank has found that young people are spending three times more on housing than their grandparents did.


At the age of 30 millennials spend 23% of their annual income on housing costs, compared to those born 1926–1945 who, aged 30, spent just 7%.


The post war baby boomers now benefit from record levels of outright ownership, but there are now as many young families (aged 25–34) living in the private rented sector as owning a home or living in the social rented sector combined (36%).


While the number of mortgage loans issued to first-time buyers over the past year is at its highest level since pre the financial crisis, the average age of a first time buyer looks set to continue to rise over the coming years.



By Alex at Aboda, Sep 3 2017 08:56PM

Headlines: Wisbech home values are still up 9% and continue to outperform national average despite 7% decrease in local sale transaction levels - shortage of available homes continues to drive increase in home values - contact Aboda Homes Estate Agents Wisbech if you wish to discuss your home's current value or the market in general


Read our full report at the link below:










By Alex at Aboda, Aug 16 2017 12:29AM

Over the last 12 months there have been 1093 property sales completed in the Wisbech PE13 & PE14 area with an average value of £170,543 - generating an average annual price growth of 9% - and 30% growth over the last 5 years - check our snapshot below for more detailed analysis! :-)

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