Ignoring the Doom Monger Headlines
Navigating the property landscape, particularly in a city like Lincoln, requires more than just a reactive approach to the daily newspaper and social media headlines. As homeowners and potential investors are continuously bombarded with alarming whispers of plummeting house prices, coupled with rising interest rates and the heartache of negative equity, there’s a tangible atmosphere of anxiety and trepidation. Yet,…
Lincoln’s Property Market Pulse: Deciphering the Latter Half of 2023Lincoln’s Property Market Pulse:
Stepping into the world of the property market is akin to stepping into a rhythm. The beats of buying and selling, supply and demand form the underlying tempo. Lincoln, a city rich in history and character, is no exception. As we venture into the last quarter of 2023, it’s crucial to understand the current property market’s tempo and how it…
Understanding Lincoln’s Property Market: The Hidden Perils of Overpricing Your Home in Lincoln’s Cooling Market
👂Audio Version – www.walters-move.me/Audio In an age of soundbites and sensationalism, the UK property market — particularly here in Lincoln — often finds itself misconstrued by general narratives. While we cannot ignore the challenges of increasing mortgage rates and shifting buyer preferences, it is vital to appreciate the broader context to understand what’s happening in the Lincoln property landscape. The…
The Changing Landscape of Lincoln’s Housing Market
Exploring the Ethical Dimensions of Buy-to-Let Investment. 👂Audio Version – www.walters-move.me/Audio The city of Lincoln has witnessed a profound transformation in its housing landscape over the last few years and the surge in private renting has led to significant debates about the morality of the buy-to-let market. Let us look at the current statistics compared to 40 years ago to show…
The Emergence of Accidental Lincoln Landlords in a Slowing Housing Market?
👂Audio Version – www.walters-move.me/Audio A Lincoln landlord remarked to me the other day that he felt that there were more ‘posher’ up-market properties coming up for rent in the last six months compared to a couple of years ago. I stated that this was the case, and it wasn’t all down to the recent rental growth – it was the…
The Untold Story of Lincoln’s Terraced Houses
👂Audio Version – www.walters-move.me/Audio Call me old-fashioned and nostalgic, but I am fond of terraced houses. I’ve conducted some research that my fellow readers of the Lincoln Property Market Blog will find intriguing! Architecturally speaking, the terraced or townhouse has been prevalent in the UK since the late 1600s. It involves a row of symmetrical houses that share side walls. The…
14 Reasons Not to Fear Lincoln House Price Drops
👂Audio Version – www.walters-move.me/Audio We know that the media love to talk up unwelcome news, and we have an obsession in the UK about property prices, so a story about falling house prices is a media must have. However, Halifax Building Society, said the UK’s housing market was showing resilience, despite higher mortgage costs. The Lincoln property market experienced a boom…
As Lincoln Rents Smash Through the £800 a month Barrier, are Lincoln Landlords Profiteering.
The private rented sector for both Lincoln landlords and Lincoln tenants is facing immense challenges, with a shortage of available homes for rent putting renters under significant pressure. And you can see why when the average UK rent in 2021 was £1,381 and in 2023 it has been £1,706, an increase of 23.53%. Let’s look closer to home in the…
The Rise of Bungalows in the Lincoln Property Market
During the pandemic, the property market experienced a surge in demand for larger Lincoln homes with spacious gardens. However, the tides are shifting, and a new trend is emerging. The combination of an ageing Lincoln population, the post-Covid trend for early retirement and economic uncertainty has sparked a newfound love for downsizing. And surprisingly it is the bungalow, often overlooked…
Why Does it Take 185 Days to Sell a Home in Lincoln?
The average time to sell a house in the UK from start to finish is 170 days, equivalent to 24.3 weeks or 5.6 months from the first day of marketing to legal completion, whilst in Lincoln it’s 185 days. The actual time can vary depending on market conditions, location, property type, and pricing strategy, so in this article I delve…
Unlocking the Secrets of the Lincoln Property Market Across Different Price Ranges
As a Lincoln estate agent, I have witnessed first-hand how the Lincoln property market operates and the various factors that influence property sales. One intriguing aspect is the difference in saleability across different price ranges. In this article, we will delve into the dynamics of selling properties in relation to their price ranges and explore the factors contributing to varying…
Is Lincoln a Buyers’ or Sellers’ Property Market?
A Comprehensive Guide for Lincoln Homeowners In the ever-changing world of Lincoln property, the terms ‘buyers’ market’ and ‘sellers’ market’ are phrases bandied about. These property market conditions can significantly impact your ability to buy or sell a Lincoln property, regardless of which side of the fence you find yourself on. As a Lincoln estate agent, I will provide you…
Shocking Revelation: 1,568 Lincoln Properties Remain Empty, Leaving 557 People on the Council House Waiting List in Despair
There aren’t enough homes in Lincoln. The answer is clearly to build more properties – but that, unfortunately for those badly seeking to buy or rent a home in Lincoln, takes a lot of time and massive amounts of money. So, what other solutions are there? Whilst I am an Estate Agent providing a professional service to those who can…
Evolving Lincoln Property Preferences:
A Shift in Types of Lincoln Properties Purchased Over the Last Two Years The Lincoln property landscape is constantly evolving, shaped by societal, economic, and cultural factors. The type of properties people have bought in the last few years since Lockdown One has undergone some subtle changes, reflecting shifting preferences and lifestyle choices. This article explores the transformations in property…
I have £140,000 to invest – is a Lincoln rental property still worth the risk?
“We have recently inherited £140,000. We have contemplated purchasing a Lincoln buy-to-let property to support our early retirement. Considering that the Skipton Building Society offers a 4.25% return on their 18-month bond and the stagnant Lincoln property market, we are uncertain whether investing in a rental property is worth the trouble. Kind regards. Mr & Mrs A from Lincoln”. Dear…
Lincoln House Prices Have Risen by 3.97% Since Christmas.
Since Christmas, Lincoln first-time buyers and savvy Lincoln buy-to-let landlords have been more active than expected in the Lincoln property market. Rents in the Lincoln area have soared in the last two years, with the average Lincoln rent increasing to £798 a month, an increase of 16.3%. Because of these growing Lincoln rents, it has made homeownership more cost-effective for…
🏡Decoding Lincoln’s Property Market Puzzle!
Lincoln’s Property Market Enigma: Cracking the Code of Lincoln’s £214/sq. ft Puzzle for First-Time Buyers. This week, we present our blog in the form of a letter from a first-time buyer along with my response. “Dear Estate Agent My fiancé and I have been actively searching for our first home in Lincoln for the past month. Being first-time buyers, we…
First-time Buyers Keeping our Local Property Market Afloat
The Lincoln housing market is relativity buoyant, thanks to an unexpected group of people – Lincoln first-time buyers. Many Lincoln tenants are annoyed with competing for Lincoln rental properties at high rents. Therefore, over the last 12 months, many renters have been stretching their finances to get on the Lincoln housing ladder, despite sky-high mortgage rates. Using data from the Office of…
Lincoln Homeowners Worried About the Property Market?
The Latest Quarterly Data Might Surprise You! In my articles on the Lincoln property market, I like to provide an insight into the real story of what is happening in our local (and national) property market and address the misconceptions that some of the media have been spreading. Despite almost daily reports of a housing market crash since September 2022,…
Lincoln Property Market, is now a suitable time to buy, or should people wait?
As we go into the second quarter of 2023, there is significant uncertainty in the UK economy, leading to uncertainty in the property market. The number one issue is the fight against inflation and the cost-of-living crisis. The Bank of England is working hard to decrease inflation, and hopefully, in summer, we should see British inflation coming down. From that,…
Why Does it Still Take 123 Days to Buy a Lincoln House?
Are you tired of waiting for months on end to complete a property transaction in Lincoln? Did you know that it takes over 4 months to sell a property in our local area? In this article, we reveal the reasons why and offer practical tips to speed up the process. Local homeowners and landlords, this is a must read… As…
Buying a Lincoln Home is Still £72 a Year Cheaper Than Renting
With mortgage rates tripling over the last 12 months, one could be forgiven for thinking buying a Lincoln home as a first-time buyer would out of the question. Yet, what if I told you, it is £72 a year cheaper to buy a Lincoln home as a first-time buyer than renting, would you be surprised? The average 2-bed home in…
Unveiling the Secrets of Lincoln’s Housing Market: Insights from the 2021 Census
The property market is one of the most important economic indicators, as it can significantly impact the prosperity of both the local and national economy. Recently, new data from the Census 2021 has become available that sheds light on seldom discussed areas of property, such as the types of properties Lincoln has, together with how we live in and use…
Is it Now or Never for the Lincoln Property Market?
Traditionally, the first four months of the year are usually an estate agents’ busiest time for house sales. However, if the last three years have taught us anything, nothing is ‘normal’ and ‘usual’ anymore. The Lincoln property market is finding that with the friction of higher mortgage rates and the effects of inflation on household budgets; things are slightly different…
New tax rules for buy-to-let landlords from 2026
New tax rules for buy-to-let landlords from 2026 We at Walters Lincoln want to make you aware of some significant changes that are coming into effect from April 2026. The UK Government is introducing Making Tax Digital (MTD) for Income Tax, which will affect how landlords report their income tax to HMRC. The original plan was for Landlords income of…
Cautious Optimism in the Lincoln Property Market
As the British and Lincoln property market navigates the ongoing economic turmoil, many Lincoln homeowners and landlords may feel uncertain about the future. However, up-to-date data suggests that the 2023 property crash predicted by the many newspapers and the usual clickbait doom-mongers in the lead-up to Christmas on social media, may not be as bad as initially thought, and there…
Is your Lincoln home bigger than 925 sq ft?
Lincoln homeowners – do you know how big your Lincoln home is? What is the square footage of your Lincoln home? Don’t worry, most of us don’t – yet it could be fundamental as Lincoln home buyers search for new homes. Us Brits are obsessed with our homes, yet most Lincoln homeowners need to learn the square footage (those born…
50% of Lincoln house sellers in 2022 had only been in their old home on average only been in their old home on average.
The share of Brits moving each year has been declining since the late 1980s (when at one stage, people moved every eight years), yet since the pandemic’s beginning, something has appeared to upset that trend. Newspaper stories and social media posts painted a picture of homeowners moving from the city centres to its suburbs, from the suburbs to the towns and…
Is Buy-to-Let in Lincoln Still Worth the Risk?
Over the last five years, life has become a little trickier for Lincoln landlords, with changes to their taxation status, mortgage interest relief and an additional 3% stamp duty for a buy-to-let property and has made lots of Lincoln landlords ask themselves: ‘Is buy-to-let in Lincoln still worth the risk?’ Regarding taxation, in 2016, the Government added a 3% supplement in…
Lincoln Property Market Update: February 2023
As we enter February, the Lincoln (and British) property market is full of mixed messages. Whilst the Bank of England increased the base rate nine times in 2022, meaning they are now at 3.5% (3% higher than 12 months ago), mortgage rates are now dropping. The Lincoln property market rocketed over the last few years because of the imbalance of…
Lincoln Baby Boomers and their 684 Spare “Spare” Bedrooms
An additional 2,050 spare bedrooms have been locked out of the Lincoln housing market since 2011 as Britain’s ageing population means the country’s stock of homes is being used more unproductively. The number of spare bedrooms in Lincoln between 2011 and 2021 increased from 39,577 to 41,627. The number of Lincoln households living in properties with at least two spare bedrooms (i.e.,…
Is Mrs Thatcher’s Dream of Home Ownership Still Possible?
In her first conference speech as the Tory’s new leader in 1975, the grocer’s daughter from Grantham, Margaret Thatcher, asserted her conviction in a ‘property-owning democracy’. Although Thatcher didn’t conceive the saying – (that credit belonged to Conservative MP Noel Skelton in 1923), it encapsulated what she thought Britain should be. Through prudence, saving and hard work, she believed that…
Lincoln Property Market Holding Up Despite Doom and Gloom in the Newspapers
The Lincoln housing market over the last three months is now becoming more ‘normal’ after the last couple of years of insane demand when the lockdowns started a race for space! Even with the blackening economic doom-mongers forecasting a harsh slowdown in the British property market, the number of people buying and selling their homes is still exceptionally good for…
What Will Happen to the Lincoln Property Market in 2023?
The autumn of 2022 saw economic and political instability with the resignation of Boris Johnson as Prime Minister and the ill-fated Liz Truss 44-day premiership. Now as we go into 2023, the economic and political turmoil has subdued, offering a greater feeling of stability in money markets. So, on the back of that, what is the expectation for the British…
57% More Lincoln Homes are on the Market Today Than a Year Ago
More Lincoln homes are now coming up for sale. This is excellent news for Lincoln homebuyers and landlords because as properties are no longer flying off the shelf as they did last year, the number of properties available to buy is beginning to return to long-term averages. This means there is greater choice for local buyers, and this will reduce…
Inflation – Every Lincoln Landlords’ Saviour?
Some of you reading this will be old enough to remember the 1970s – the bell-bottom trousers, the huge collars, frayed jeans, disco glitter balls, maxi dresses, midi skirts but above everything else – HYPER-INFLATION. With inflation currently standing at 11.1%, many of us envy the last few years when we have been lucky to experience sub 2% inflation. But…
Falling Lincoln House Prices
The Winners & Losers The doom and gloom of the national newspaper headlines regarding the UK property market would make you think Armageddon has arrived – this being the second most interesting topic to the Brits (the first being the weather!). So, what is happening in the British property market? As with most things in life, the devil is in…
Lincoln tenants face further rent hikes, as the number of available rental homes drops by 19%
The Lincoln rental property shortage is currently very evident. In this article, I will investigate why there is such a significant lack of homes available for rent across Lincoln and what it means for buy-to-let investors. Anybody who enjoys surfing the property portals (Rightmove, Zoopla and On the Market) will have observed an emerging trend that the number of properties available to…
Is Now a Good Time to Buy a Lincoln Home?
🌐 Links to All our Service – walters-move.me/m/QuickLinks 👂 Audio Version – www.walters-move.me/Audio This is the question many people are asking right now, and the answer depends on your circumstances. I pride myself on my ability to provide objective, fact-based information on the Lincoln property market so potential Lincoln house sellers, landlords and buyers can make the best decision for themselves. My…
LINCOLN LANDLORDS, HOMEOWNERS & THE AUTUMN BUDGET 2022
The Chancellor, Jeremy Hunt, gave his Autumn Budget 2022 at lunchtime, intending to deal with inflation and keep mortgage rates down for homeowners. In this short and sharp post, I wanted to touch on what this would mean specifically for Lincoln landlords and homeowners thinking of buying and selling Capital Gains Tax Changes In previous articles about the Lincoln property…
What will Rishi Sunak as PM mean for Lincoln house prices?
I often get asked what is going to happen to Lincoln house prices. Many things affect house prices, and it comes down to simple supply and demand. On the supply side of the equation, in the short-term, the number of people wanting to sell their property at any one time has a massive effect on house prices. In 2007, the…
Could the humble ‘granny annexe’ help solve the Lincoln housing crisis for mature homeowners?
Most Lincoln homeowners born before 1960 have been in their homes for more than 25 years. Yet of all the properties sold in the UK since the first lockdown in the summer of 2020, 50% of those property owners had only been in their homes for six years and four months or less. That means we almost have a two…
Lincoln Landlords: Will Lincoln buy-to-let continue to be profitable in the next few years?
Being a Lincoln landlord is undoubtedly a challenge. The glory years of making money from ‘any old property’ are certainly in the past. With increased legislation and taxation from Government and the cost-of-living crisis (which will result in some Lincoln tenants struggling to pay their rent), times are challenging for many landlords. Then newspapers are full of stories of landlords…
Waiting for the Lincoln House Market to Crash will Cost you £31,178
Doom and gloom in the British property market or clickbait doom-mongers? Newspapers and clickbait 24-7 news websites, desperate for clicks, are peddling a story of a doomsday time for the economy, particularly the property market, as interest rates and inflation create the perfect storm for the UK property market. So, let us look at what is happening in the British…
Lincoln Property Market
What will the stamp duty cuts & interest rate rises mean for Lincoln homeowners & landlords? Last week the Bank of England increased interest rates to 2.25% and they are expected to be 3.25% by early next year. This increase will make the monthly mortgage payments more expensive for first-time buyers, an issue dubbed by some as the ‘property affordability…
Lincoln OAPs are Getting Jobs and Downsizing Properties to Beat the Cost-of-Living Crisis.
Lincoln OAP retirees have to make tough choices with the onset of the cost-of-living crisis. Growing inflation, unpredictable financial markets and the high cost of living mean many former retired Lincoln people are returning to work in what has been dubbed the ‘great unretirement’. Some are even bringing forward their downsizing house move. Looking at the changing job market, July…
Lincoln Tenants’ Spiralling Energy Bills are About to Become Lincoln Landlords’ Problem
As gas and electric bills rocket for Lincoln tenants, Lincoln landlords who do not start to make energy efficiency upgrades face lengthy void periods and will have to discount their rents. This is irrespective of the Government’s plans to change the rules on renting properties with low Energy Performance Certificate (EPC) ratings. Until six months ago, out of the thousands…
Why Aren’t Liz and Rishi Courting Lincoln’s Generation Rent?
With the cost-of-living crisis beginning to hit, the 20 and 30-somethings of Lincoln urgently need the help and support of the Government to help them get on the property ladder. For the last few weeks, we have listened to the debates and hustings of Liz and Rishi. Between them, they have told us how they are going to stop building…
What’s the Difference Between a Flat and an Apartment in Lincoln?
The word ‘Apartment’ derives from the French word ‘Appartement’, which comes from the Italian form of the word, ‘Appartamento’. The core of that Italian word ‘appartare’ means ‘to separate’, as in ‘separate a building’. The word comes from Roman times when housing costs were so expensive within the city walls of Rome. Savvy property owners split (or separated) their houses…
Lincoln’s ‘Generation Stuck’ and Their £2,883m Tied-up Equity
The predicament of the Lincoln 20 to 30 year olds who rent and their inability to get onto the housing ladder is often discussed in the press. There are 4.43m properties in the UK that are still in the private rented sector (compared to 2.13m in 2002). This group of people in their 20s and 30’s, who rent from a…
Will the Cost-of-Living Crisis Mark the End of the Booming Lincoln Property Market?
Lincoln house prices have risen on the back of several things, including changes in how people see their homes and how they live and work (i.e., working from home), a lack of properties on the market and government tax incentives (the stamp duty holiday in 2020). Yet, the tide could be beginning to turn as the number of houses coming…
Are Lincoln’s Millennials to Inherit £215,888 Each from Their Baby Boomer Parents?
The total value of homes owned by Baby Boomers in Lincoln alone is £2,883,700,998, and two-thirds of the Lincoln Millennials are set to inherit all that in the next few decades! Could this be the answer to the housing crisis? Could Lincoln Millennials live it up for the next few decades, safe in the knowledge they will get a huge…
Lincoln Property Prices Have Risen by 394% Since 1995
“Tell me what is happening to the Lincoln property market”, asked the friend of a friend at a recent do I went to in Lincoln (after finding out I was an agent in Lincoln). I always reply, “It depends if you are buying, selling or both”. The Lincoln property market is like a seesaw. For the last two years, it…
Lincoln Starter Homes are 35.4% Cheaper Today Than in 1989
Even though the average value of a Lincoln first-time buyer property has risen by 292.8% since 1989 to £180,350, the monthly payments Lincoln first-time buyers must make on their mortgages as a proportion of their take-home pay is 35.4% less today compared to 1989. Today, according to the Nationwide Building Society … the average Lincoln first-time buyer only needs to…
31.9% of Lincoln Property Sellers Reduce Their Asking Prices as the Property Market Starts to Return to Equilibrium
The last couple of years of the Lincoln property market has seen some amazing prices being achieved with multiple offers and many properties selling for way over the asking price. Yet, as I have been writing about the Lincoln property market over the last few weeks, the tide is beginning to turn, and the pendulum swing more towards a balanced…
The Shifting Lincoln Property Market
The Lincoln property market is on the cusp of a tipping point. It’s a tipping point that will influence Lincoln house prices, the number of properties available to buy, demand for those Lincoln properties and the lives of every homeowner and the property-owning buy-to-let landlords in Lincoln. This shift in the Lincoln property market is a big deal so let…
What Was the Average Lincoln House Price in 1952?
Well, what a weekend that was. Street parties, gatherings in the park, the bunting, egg & cress sandwiches, union jack flags, cheese & pineapple on cocktail sticks, and let’s not forget the trifle, a great Platinum Jubilee Party. And no decent party is worth its salt without a game or a quiz. So, if you have post-Jubilee blues, let me…
The 6 Reasons Lincoln Rental Properties Could Inflation-Proof Your Savings
The cost-of-living predicament is threatening the budgets of many Lincoln households. Inflation is running at 7.8%, yet the best savings rates in the market are only 2.75% (because of low Bank of England interest rates). This means that the value of people’s savings is falling fast. To add insult to injury, the possibility of a recession on the horizon could add another…
Lincoln Property Market to Crash in 2022?
According to some newspapers and pundits, the property market boom could soon be over with the increasing interest rates and inflation. In this article, I share the 3 fundamental economic reasons why things are different to the last property market crash. The insider’s way to find out if there will be a property crash. …and 4 reasons why buy-to-let landlords…
Lincoln Rental Homes Nightmare
There has been a rise in demand for rental properties and an 8.9% fall in the number of Lincoln private rented properties, which has caused Lincoln rents to rise by 5.6% in the last year, a new all-time high. The National Residential Landlords Association asked the respected economics think tank, Capital Economics, to carry out research on the UK rental…
Lincoln Homeownership Rockets by 1,806 Homes in the Last 5 Years
With the newspapers full of news about the death of homeownership and the growth in Generation Rent, it must surprise many (as it did with me) that the number of homeowners in Lincoln has grown. To give some context… the number of homeowners in Lincoln dropped between 2011 and 2017 by 184 households, yet between 2017 and 2021, that grew…
Did you know there are 12,817 Terraced Houses in Lincoln, Why Are They So Popular?
The terraced house is one of the most familiar styles of home in Lincoln (and the UK as a whole). 30.3% of Lincoln people live in a terraced home, interesting when compared with the national average of 22.7%. So, what is it about the humble terraced/townhouse us Brits love so much? In this article, I look at the history of…
Fifty-one percent drop in Lincoln Council Houses in the last 40 years
The ability of local authorities to build council houses came into law in July 1919 with the 1919 Housing and Town Planning Act. It was one of the most important pieces of domestic legislature passed after WW1 and was the first time in the UK that a nationally public funded system of providing homes was made for the masses. It…
Why does it take 114 days to get the keys when you buy a Lincoln house?
Nationally, the average length of time it takes from agreeing the sale of a property to the keys being handed over is 111 days (down from 117 days last year), yet in Lincoln, we are above the national average at 114 days. So why does it take just over 16 weeks, when all that is required is the lawyers to…
1 in 4 Lincoln Homeowners Unable to Sell
You would have needed to have been living in a cave since the end of Lockdown No.1, not to realise the property market has been on fire in Lincoln (and the UK as a whole) for the last 18/20 months. It has been very much a seller’s market, especially in 2021. Yet as we enter the second quarter of 2022,…
How Will Rising Inflation Affect the Lincoln Property Market in 2022?
The UK is currently experiencing its highest inflation rate since the early 1990s. This increase in prices has primally come about by the combination of an increase in demand for goods and services from consumers following lockdown last year together with global supply chain disruptions. Most economists weren’t too concerned about this increase in the inflation rate as the very…
1 in 17 homes are sitting empty in the Lincoln Area.
• 2,784 homes in the Lincoln area are empty, which represents 1 in 17 homes. • 491 of those have been empty for more than six months and are worth £86million. • Why are those properties standing empty and deteriorating and why could that become an issue for the whole of Lincoln? A couple of weeks ago was National Empty…
Lincoln Household Heating Bills Set to Rise to £66,885,718 in 2022
The energy bills of every Lincoln resident will rise in April as the price cap increases to account for the global increase in the cost of gas. Those not on the gas mains will still be hit as the UK uses gas to make 45% of its electricity. So, what can Lincoln residents do to reduce their energy consumption and…
Why Are There So Few Lincoln Homes For Sale?
There are 406 properties for sale today in Lincoln; roll the clock back exactly a year, and the figure was 686 – there’s been a drop of 41%. This drop is being dubbed ‘for sale board crunch’. The ‘for sale board crunch’ has left many prospective Lincoln home buyers stressing to find the right Lincoln property as the number of…
2,069 Lincoln Landlords Could Be Hit With £14k Bills and Red Tape in Tory ‘Levelling Up’ Plans
Are these proposed changes another nail in the buy-to-let coffin for Lincoln landlords? On the face of it, yes, it could be seen as another attack on the humble Lincoln landlord, having to spend money on their properties and get tangled up with red tape on a register and then having no-fault evictions removed. Yet, as always, the devil is…
10,203 Lincoln OAP Homeowners Could Be Forced To Sell Their Homes As Their Energy Bills Rise
The wholesale gas price has tripled in 2021. Even if you aren’t on gas at home, half the UK’s electricity comes from burning gas so, this affects everyone. Even though domestic bills have been protected from the majority of this with the Government’s price cap, energy bills will rise by at least 50% in April. This means the average energy…
Lincoln Homeowners Pocketed £166k Each in the Last 20 Years
Since 2001, UK average house prices have risen by an astonishing 187.2% across the UK, while in London the figure is 247.6%. Looking back at the people that bought in those first few years of the new Millennium, few of those buying or selling property in 2001 could have forecast the massive financial impact that their decision then would have…
The 7 Things Lincoln Home Sellers Should (& Shouldn’t) Do in 2022.
Did you know 4,743 Lincoln homeowners are considering selling their Lincoln home between now and the summer of 2023? Reports in the press suggest 1 in 5 homeowners are considering moving home in the next 18 months. This will change the dynamics of selling your home in Lincoln, meaning there are certain matters that you, as a Lincoln homeowner, should…
So, What Will Happen to Lincoln House Prices in 2022?
Traditionally, if you had not sold your Lincoln home by the first week in November, you would normally have to wait for the house sellers to return in the famous Boxing Day rush on the portals (Rightmove, Zoopla etc) to get potential buyers interested. Yet matters have been different this year as the various lockdowns have caused a surge in…
Are Lincoln People Addiction to their Spare Bedrooms?
The Housing Minister, Chris Pincher, has suggested older homeowners are “rattling around” in their homes as they are too big for them. He implied they are selfish and should sell up and move to a retirement home when he spoke to a committee in the House of Lords. He stated that many British homes are “under-occupied” and could be better…
Should Lincoln Landlords Be Worried About New Rental EPC Regulations?
Everyone should be doing their bit to help reduce the UK’s carbon footprint on the globe – yet the question is, is that burden being put too much on the shoulders of Lincoln landlords with potential bills of £7,600+ in the next four years? The background – the UK has obligated itself to a legally binding target to be carbon…
With Lincoln Tenants Deposits Totalling £7,371,230, how will ‘Lifetime Deposits’ Change the Lincoln Rental Market?
The Government’s scheduled publication of their White Paper for the Renter’s Reform Bill, which incorporates proposals to forbid Section 21 evictions and introduce ‘Lifetime Deposits’, has been suspended until 2022. The additional time is required to give a chance to create a level playing field to reforms for both landlords and tenants in the private rented sector in England. In…
Is the Lincoln Property Market Running Out of Steam?
In recent articles on the Lincoln property market, I have been talking a lot about house prices over the last 12 months and 5 years in Lincoln. When it comes to newspapers talking about the property market, the headline most people look at is what is happening to house prices. However, as 2 in 3 (65.1%) of Lincoln home…
BASE RATE RISE?
The base rate of interest is set to rise in the ‘coming months’ as the Bank of England acts to control the UK economy. The Bank voted to keep the base rate at its historic low of 0.1% in November, but with inflation 3.1% and predicted to rise to as much as 5% in the first half of 2022, a…
Would You Re-mortgage?
How far would you go to help your child get on in the world? Many Lincoln parents move area to ensure their child gets into the best primary school, or to fund their university costs. Many of you reading this have even helped your children with the deposit for their first home from savings. However, I have come across many…
Lincoln Homeowners to Face Post-Lockdown Mortgage Rate Rise of £600 a Year
With grocery, energy and other household prices/costs rising and hitting everyone’s back pocket, inflation (rising prices) may feel like an unimportant issue when it comes to the cost of keeping a roof over your head. Yet nothing could be further from the truth for many Lincoln homeowners and Lincoln landlords. Because inflation over the long-term is bad for the economy,…
Are Lincoln House Prices Set to Fall this Autumn?
The stamp duty tax holiday is over, furlough finished at the end of September, unemployment is due to rise, and inflation is rife … is this the end of the post lockdown Lincoln property boom? Surely, we are heading for house price correction? Forecasting what will happen in the Lincoln property market this Autumn may not be as simple as…
Buyer Demand Swells
The property market continues to ride the wave as we head into autumn. Buyer demand per property is more than double pre-pandemic levels (Rightmove). Rightmove report a 14% increase in new listings at the start of September*, but the number of available properties for sale remains low and competition for properties remains strong. 37% of properties sold for above their…
Lincoln Buy-to-Let Market on the Rise as Returns Rise by 38.1% in 5 Years
Lincoln landlords are becoming progressively more self-assured about expanding their rental portfolios; as Lincoln rents rise, mortgage interest rates fall and demand for decent Lincoln rental properties outstrips supply. Several reports nationally would suggest around a third of UK ‘portfolio’ landlords (i.e. landlords with more than one rental property) are actively looking to expand their rental portfolios in the next…
Why Are More Lincoln OAP Homeowners Deciding Not to Move Home?
A recent report by Legal & General stated that since the pandemic, many older homeowners had put their plans to move home ‘on ice’. It said that fewer OAP homeowners are planning to downsize from their large family homes after the pandemic made them realise the actual value of their local community and space. Historically, many OAPs move home to…
Lincoln Homes Asking Prices Down 1%
With Rightmove announcing a national drop of 0.3% in average asking prices in August, some are asking if the steam has been let out of the property market. Yet with the gains we have seen in the last 12 months, is this just a minor bump in the road? Alarm bells normally ring when new homeowners coming to the market…
Lincoln Homeowners Have Turned to the Rental Market to Cash in by £13,100 Each
Should you sell or should you buy in this most interesting Lincoln property market? I have calculated that at least 220 Lincoln house sellers have rented a home to break their house chain in the last 12 months, although at a cost as they face paying many thousands of pounds in rent. There are several reasons behind this. One is…
Students in the private rental sector
435,430 first time students have a confirmed place at university in the UK in 2021, this is 5% higher than results day in 2020. During university, 29% of students live in the private rental sector. Dataloft estimate that 570,000 students will be living in the private rental sector during the next academic year. In the UK, excluding London, students in…
How Many Days Does It Take to Sell a Lincolnshire Home?
Whether you are a Lincoln homeowner, first-time buyer, or landlord; the last 15 months has been a roller coaster ride when it comes to the Lincoln property market. With 213,120 UK house buyers and 58,580 UK tenants moving home in June, the summer has been manic for many people. Meaning some Lincoln homeowners are asking if they should be staying…
Only 1 in 19 Lincoln Properties are Bungalows, Despite an Ageing Population. Why?
The bungalow is a building that has represented a more leisurely, gentler way of life since the early 1900’s. Bungalows have been sold as an aspiration for those about to retire, saving them the annoyance of having to climb stairs. With an ageing population, one would think they would be building more bungalows, yet nothing could be further from the…
Lincoln’s Love (and Hate) Affair with the Semi-Detached House
The Semi-Detached House – the icon of middle-class aspiration, the pinnacle of liberalism yet at the same time compromised individuality, the ‘semi’ as it is colloquially termed is, for many Lincoln homeowners, the highpoint of modern domestic bliss. Britain’s gift to architecture is the humble ‘Semi-Detached House’. This type of property has been exported around the world with – the ‘Doppel…
The Average British tenant moves every 4yr 3mth.
Moving home is the ultimate double-edged sword. Of course, you get to enjoy new neighbourhood, perhaps a bigger home, and all the excitement that comes with making your Lincoln home your own. Yet to get that point, there is the weeks and weeks of changing utility suppliers, weeks of packing and several sleepless nights wondering if you have done the…
Lincoln Home Moves Hit Record High in June
as 184.7% more people sell in June compared to the Lincoln area 10-year average June 2021 was the busiest month ever for UK estate agents, home removal companies and conveyancers since monthly records began, as HMRC logged 213,120 residential transactions in June, a jump of more than 216% nationally on the same month last year (when the housing market had just reopened after…
Why Savvy Lincoln Buy-to-Let Landlords Don’t Use 10-Year Mortgages.
And the reason you shouldn’t either I know of many Lincoln buy-to-let landlords who fell into property investing by accident. Many didn’t want to sell their family home when the Lincoln housing market crashed in the Credit Crunch of 2009/10, yet still needed to move (often for work). They thought they would keep their Lincoln family home in case they…
£323,520 – ‘Wood’ You Pay That for a Lincoln Terraced House?
The value of an average Lincoln terraced house has increased in value by £13,185 in the last 12 months, an increase in value of 8.64%. Yet the costs of building a Lincoln home have shot up even more in the last 12 months, meaning the price of Lincoln new homes and any building works you do to your Lincoln home…
Is Lincoln Heading Towards a House Price Crash?
Lincoln house prices rose by 1.4% last month, according to the Land Registry. This means the annual rate of house price growth in Lincoln has increased to 7.1%. Looking at the national figures, many people were concerned the UK property market was overheating as spring saw annual growth of 9.9%, the highest rate of house price growth documented since June 2007 (when national…
Lincoln Buy-to-Let Landlords Owed £1,615,303 in Unpaid Rent.
Rogues or Saviours? There is no getting away from the fact that the rise in the number of buy-to-let properties in Lincoln has been nothing short of astonishing over the last twenty years. As a result, many in the press have said Britain is a broken nation, with many twenty and thirty-somethings unable to buy their first home. The press…
How Eco-friendly are Lincoln Homes?
And how new Gov’t rules will mean draughty low-eco Lincoln homes will drop in value ‘It’s Not Easy Being Green’, was the song that Kermit sang on Sesame Street. Yet now being green is a normal way of life for most of us. Walking or cycling places instead of taking the car, recycling and even shunning meat are some of…
Your Great-Great Lincoln Grandfather Would Have Only Paid £269 8s 9½d for his Lincoln Home in 1871
Would it surprise you even more when I said the ratio of house prices to wages are still lower today when compared to 1871? Yes, you read that correctly, as a proportion of average wages British house prices are 17.6% proportionally cheaper today than they were in 1871. I wish to talk about the last 150 years of the British…
Demand v Supply
Now is a great time to sell your home as there is a huge shortage of properties available for sale, and house prices are higher than ever. Housing market demand is up 28.6% yet listed properties to buy are down 20.8% (YTD vs 2020, Zoopla). This is putting upward pressure on house prices, with Nationwide reporting a 10.9% annual increase.…