Bringing you the latest trends in the UK’s housing market with a detailed focus on our local market.
Rental market
At 3.6% UK rental price growth in the year to September is at its strongest since records began in 2016. Rental prices continues to rise across much of the UK, the ONS index based on both tenancy renewals and new tenancies.
Demand is set to outpace supply in the rental market for the foreseeable future as mortgage pressures impact the number of renters able to move into the owner occupation.
Economy
The Autumn statement will be made on Thursday 17th November. The Chancellor, Jeremey Hunt, has already indicated there will be spending cuts and tax rises as the government seeks to fill the so-called financial 'black hole'. At 5.7% wage growth in the year to September was at its strongest since 2000 (excluding post pandemic furlough), however when adjusted for rising prices wages fell by 2.7% (ONS). Unemployment remains low but is expected to rise.
"Your local property experts, our advice is free but our knowledge is priceless"
No comments:
Post a Comment