Weekly Property News Round Up – 16.11.24

Welcome to this week’s edition of Property News Weekly, where we bring you the latest updates shaping the property landscape.

This week in property news, UK listings see a surprising increase as market activity picks up towards the end of the year. Forecasts predict a £10,000 rise in the average house price by 2025, with steady growth expected despite economic challenges. Meanwhile, the push to retrofit millions of UK homes highlights the growing demand for energy efficiency, but questions remain about the costs involved. Read on to uncover what these developments could mean for the market.

If you would like to speak to our experts for some industry insight on these important questions and discover the strategic opportunities this evolving market has to offer, reply to this article today.

Now, let’s have a look at the latest headlines that have caught our eye this week…

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Property News this Week:

A UK Property Market Update

29.5k UK listings this week (week 45), an unexpected increase of 0.9k listings from last week. YTD 2024, listings are 11% higher compared to 2023 YTD. In addition to this, percentage of residential sales stock being reduced (monthly): 13% of Residential sales stock was reduced in the last month. 14% last month and long term 5 year average 10.6%.

Average UK House Price To Rise £10,000 in 2025

A new forecast has suggested that the UK’s average house price is set to rise by 3% in 2025, followed by a further uptick of 3.5% in 2026 and 2.7% in 2027. Next year, this would bring the average house price to £300,000, or around a £10,000 increase on current levels. Estate agency Hamptons’s near-term forecasts have remained unchanged, but the longer-term view has been downgraded due to high interest rates and the tax landscape.

The Difficulty To Make Homes Energy Efficient

Around 29 million British homes require retrofitting by 2050, according to the UK Green Building Council, external, an industry body. Retrofitting might involve measures such as improving your home’s insulation, upgrading the heating system, or installing energy-generating devices such as solar panels, or even a private wind turbine. These adjustments can cost thousands of pounds up front, but, if properly executed, they could improve comfort and reduce people’s bills in the long-run.

That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply—I’d love to chat with you about the latest market trends and discuss your investment goals.

I’ll be back next week with more insights on the property market. Enjoy your weekend!

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