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the specialist agent - for special homes


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, 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


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%.


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).


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.


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.


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

Aboda Homes

The Elms, High Road

Wisbech St Mary


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


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.

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