Lincoln Property Owners Reap £3,809 Yearly Gains Since 2001
As we are now nicely into 2024, it’s certain the Lincoln housing market over the last 18 months has been a little more restrained than 2020, 2021 and early 2022, and I believe that the ‘steady as she goes’ outlook will continue into the rest of 2024 and beyond. As property ownership is a medium to long-term investment, it is…
2-Bed or 3-Bed Lincoln Homes: Which Sells the Fastest?
Understanding the nuances of property sales is essential for both homeowners and investors in the dynamic Lincoln property market. A few weeks ago, I stated that of the Lincoln properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 95 days to sell. Now time has moved on,…
Lincoln’s £1.29 Billion Inheritance from Baby Boomers Won’t Save Gen X and Millennials
Many Lincoln people I talk to in their late 30s to late 40s are relying on the inheritance from their baby boomer generation parents to help them in their home buying and retirement future. It is true there is £2 trillion (£2,040,861,524,790 to be exact give or take a few pennies) tied up in equity in the property of everyone…
The Lincoln Property Market Report for March 2024
As a practised estate agent based in Lincoln, I like to monitor the local property market, compare it to the UK property market, and then share it with Lincoln homeowners and landlords. For February 2024, the UK property market has seen a continuation of the solid start in the first month of the year. Therefore, in this article, I want…
How has the Spring Budget affected Lincoln Homeowners and Landlords?
The Spring Budget 2024 this afternoon has introduced some changes that could significantly influence your Lincoln property strategies and investment outcomes. Here’s a comprehensive mini update: Capital Gains Tax Cut: A major highlight is the reduction in the higher rate of property Capital Gains Tax from 28% to 24%. This tax is applicable when you profit from the sale of…
Lincoln’s Restless Homeowners: The 5 Year 39 Week Itch in the Lincoln Housing Market
There are 28.4m households in Britain, of which 17,693,200 are owned, worth a total of £5,127,807,837,600 (£5.1 trillion). When you add all the private rented homes and council houses, that figure reaches just over £8.5 trillion! Over the last six years, 76,669 UK properties have sold each month, meaning the average British homeowner moves every 16 years and 7 months.…
Is 2024 a good time to sell your Lincoln home?
As a seasoned estate agent serving the Lincoln community, I’ve always prided myself on offering transparent, informed advice to local homeowners. Today, I’d like to provide a balanced perspective on the current housing market trends and what they could mean for those contemplating selling their Lincoln homes. The housing market is an ever-evolving landscape, and recent forecasts present a mixed…
The UK Property Market in 2024: A Robust Start with Implications for Lincoln
As an experienced estate and letting agent based in Lincoln, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Lincoln. In the first 11 days of 2024, the…
Mortgage War Will Save Lincoln Homeowners £2,021 a Year.
In a recent financial turn, Lincoln residents are experiencing a wave of relief as mortgage rates across the UK take a surprising dip. This reduction, led by major lenders, signals a potential opportunity for the Lincoln housing market, directly affecting homeowners, landlords and first-time buyers in the city. Let’s delve into what this means for the local market, weighing up…
How the 25.2% Saleability Drop in the Lincoln Property Market Might Impact Your 2024 Home Moving Plans
The Lincoln housing market, like many others, has experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. Looking at independent data for the Lincoln area (LN1-LN6) … In 2022, 67.0% of properties that left the books of Lincoln estate agents agreed…
Navigating the Lincoln Property Market: The Art of Pricing Properties Right
As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in Lincoln’s property market has never been more pronounced. This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process. Lincoln’s Property Market: A Brief Overview Lincoln’s property market…
The Lincoln Property Market, and the importance of realistic pricing (if you want to sell).
The UK’s property market landscape has experienced a significant shift over the last couple of years. In October 2021, there were 424,809 properties for sale in the UK. That now stands at 664,780, a rise of 56.5%. Looking at the number of property sales in the UK in October 2021, 111,229 properties were sold subject to contract (stc). In October…
1 in 3.6 Lincoln Homes are in the Private Rented Sector:
As Lincoln strides into the future, the burgeoning private rented sector has continued to house many of its residents. The decade-spanning 2011 to 2021 saw a significant surge in the private rented sector, a testament to the enduring appeal and viability of the Lincoln property market. This growth has unfolded amidst a backdrop of housing challenges, underscoring the pivotal role…
The Resurgence of Lincoln’s Semi-Detached Houses: … a 397% Price Surge in 28 Years
In the realm of British suburban living, the semi-detached house has often been the subject of caricature, a symbol of safe yet uninspiring domesticity, epitomised by hit TV shows and movies like the Dursleys out of Harry Potter, the BBC show Outnumbered, Birds of a Feather and the ever-awkward son of Norwich, Alan Partridge. However, recent property trends in Lincoln…
Rental Market Dynamics: A National & Regional Overview with a Focus on Lincoln
The UK rental market has once again demonstrated its resilience and dynamic nature. Recent figures state that the average advertised rent for newly listed properties in the UK last month was £1,787 per calendar month. The average for the UK excluding Greater London is £1,211 per calendar month (and Greater London on its own is £2,989 per calendar month). In our…
An in-depth analysis of where Lincoln people are moving.
The consensus among economists and the wider public is clear: the remarkable ascent of Lincoln’s property prices over the previous twelve years has reached its peak and is now starting to drift downwards. Major national publications splash headlines filled with pessimism about the UK housing market, citing issues such as buyer affordability caused by challenges with average salary growth not…
140.5% More Lincoln Properties on the Market in Last 20 Months: How Lincoln Home Sellers are Navigating the Storm140.5% More Lincoln Properties on the Market in Last 20 Months:
In recent months, the British property market in certain parts of the country, has exhibited signs of cooling. As a result, homeowners selling their homes face increasing competition from more homes on the market. The increase in mortgage rates has played a pivotal role in this cooling, taking a toll on potential buyers’ incomes, thereby lowering affordability and demand. The…
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,…
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…
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
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…
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…