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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…

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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…

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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,…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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.…

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Will the Lincoln Property Market Continue to Boom? All the signs are that the Lincoln housing market is sat on good foundations, yet one key hazard could still scupper the market. ‘UK Property Prices Rising at Record Levels’ is the headline of many newspapers. In the last few weeks, the Halifax reported they had grown by 6.5% in the last…

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Will Lincoln House Prices Fall in 2022? As 1 in 6 Lincoln homes are selling within a fortnight of coming to market. One of the most astounding things that has happened in the last 12 months was something that did not happen. Even after the country saw the deepest recession since the Great Freeze of 1709 with GDP dropping 28%…

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Most people pay Stamp Duty Tax when they buy a property, house, apartment or other land and buildings over a particular price in the UK. The Chancellor, Rishi Sunak (quickly followed suit by the Welsh and Scottish Governments), announced last July that Stamp Duty was partially being suspended on all English property transactions up to £500,000 (£250,000 in Wales and Scotland)…

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When William the Conqueror invaded our fair shores in 1066, like all good kings, he needed to buy loyalty and raise cash to build his castles and armies. He did this by feudal law system and granted all the faithful nobles and aristocrats with land. In return, the nobles and aristocrats would give the King money and the promise of…

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New Official Walters-Property Twitter account now live. Covering Lincoln and surrounding areas since 1790, and now in 21st century. https://twitter.com/Walterslincs

Tenant demand is rising substantially. For agents in the lettings market, the busy season is approaching. Analysis of tenancy start dates based on data from the past 5 years indicates the market starts to accelerate in June, with nearly one third of all tenancies starting between July and the end of September. The demand for rental properties increased significantly in…

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Rental values are significantly higher across all regions of the UK, except London, than they were a year ago. Excluding the capital, the average monthly rent is £853, up 6.2%. A shortage of supply and growing demand is helping support rental values. New instructions were 9% lower in the first three months of 2021 compared to 2020. Although London has…

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The cost of borrowing remains historically low according to new data released by the Bank of England, the average mortgage rate just 2.09%. This rate has remained unchanged since the start of 2021, with gross mortgage lending in March hitting its highest ever monthly total at £35.6 billion. Mortgage approvals remain over 20% higher than the long term (5 year…

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If you’re considering making a move, now is the time to act. Demand for property is soaring. Spring sunshine, the extension to the Stamp Duty holiday and the relaxation of restrictions has continued to support buyer demand. Properties sold faster in the first two weeks of April than ever previously recorded according to Rightmove, 23% of properties sold in March…

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“In this week’s article on the Lincoln property market, I review what has happened to Lincoln house prices and what is likely to happen in 2021. Looking back at the Lincoln property market for 2020, it can certainly be seen as a frenetic game of two halves, albeit with a very long half time in the spring. Between the General…

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With the banks reducing the number of low deposit mortgages (i.e. deposit of 10% and below) since Covid-19 hit in the spring, this has meant that the number of Lincoln first-time buyers has been decreasing quickly, meaning many of those would-be Lincoln buyers wanting to make the first step on the Lincoln property ladder will stay in the Lincoln rental sector. This…

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With the second lockdown starting on the 5th November 2020, does this mean Lincoln landlords can wave goodbye to their Lincoln buy-to-let investment and see it go up in smoke on the bonfire of buy-to-let dreams. With many Lincoln tenants at risk of losing their jobs after the furlough scheme ends next March and as the reverberations of the coronavirus…

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What will a no deal Brexit on the horizon, the end of the stamp duty holiday in March, mortgage payment holidays coming to an end, unemployment set to rise after furlough and ongoing on/off coronavirus restrictions do to the Lincoln property market and the value of your Lincoln home? In the late spring of 2020, every man and his dog…

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Lincoln homebuyers and Lincoln landlords purchasing residential property have saved £453,690 since the Chancellor reduced Stamp Duty on 8th July 2020, yet many more Lincoln homebuyers could miss out. My analysis of properties sold in Lincoln from the Land Registry between the introduction of the Stamp Duty holiday on 8th July 2020 and 14th August 2020 (which is the most…

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Boris Johnson has attracted both praise and horror in equal measure with a new plan for 95% mortgages to help beleaguered first time buyers to get on the property ladder, but would that expose UK taxpayers to too much risk? In this article I discuss the implications of what that would mean both nationally and locally in Lincoln. With the…

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For the last thirty years, the Government have passed the responsibility of housing the masses from local authorities (i.e. council housing) to the estimated 1.5 million British buy-to-let landlords. However, since 2015/16, Lincoln landlords have faced increasing tax burdens as each year goes by, with the removal of mortgage interest rate relief on income tax (Section 24), the introduction of the…

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Post lockdown, the need for Lincoln families who want bigger homes has meant Lincoln homebuyers must now pay considerably more to trade up to that larger home… One thing that has come out of lockdown has been the inexorable movement of Lincoln households wanting to upsize to a larger home. Often considered to be first time buyer properties, the smaller…

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The Lincoln property market is an enigma and chock-full of contradictions. Notwithstanding an economic recession and forecasts of property values dropping, nobody seems to have informed the Lincoln homeowners selling their homes and those Lincoln people looking to buy them. As I have discussed in many recent articles on the locality, the Lincoln property market is booming and property values…

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The 1st July 1948 heralded a new dawn in how property was built, as the Town & Country Planning Act 1947 came into force, meaning no property could be built without the say so of the local authority. Boris Johnson announced a substantial change to that, by in effect, ending planning permission. The decision of what gets built, and what…

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Getting your initial asking price right is key to getting sold and moved before the end of the stamp duty exemption Cast your minds back and see if you remember when on th 8th of July 2020, the Chancellor announced the first £500,000 of any property bought was exempt from Stamp Duty until 31st March 2021. This also included buy…

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… and the six reasons that will make you want to become one! The buy-to-let market in Lincoln is about to enter a challenging 12 to 24 months. Yet by looking back at the last recession and what is happening now, there are vital lessons all Lincoln landlords can learn to protect themselves, and in fact create opportunities for themselves…

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Going into lockdown in March, the Government proclaimed a ban on tenant evictions, pledging that no tenant in a private rented home, who had lost their wages due to Covid-19 would be kicked out of their private rented home until the late summer. Fast forward to August and the press were being briefed as late as Wednesday 19th August that…

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Roll the clock back 20 years and any self-respecting late 20/early 30 something would never say on their first date that they lived with their mum and dad. It was seen as a sign of immaturity being tied to your mother’s apron strings as a failure to leave the family home. Yet over these last two decades, the age of…

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With only around 1 in 6 Lincoln house sellers actually selling their home in the last month, Lincoln sellers and buyers will need to continue to be pragmatic if the surprisingly strong current levels of activity in the Lincoln property market are to be sustained. To start, we had the once in a lifetime event of the credit crunch in…

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Lincoln families house moves on hold An immediate fallout of the Coronavirus pandemic is that it has placed many Lincoln families’ house moves on hold. Government guidelines state all home buyers and home sellers who are in the process of selling their Lincoln home and moving to a new home must adapt to these temporary arrangements, adjusting their usual practices,…

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