Rising House Prices in the UK: Key Drivers and How to Prepare

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As 2024 unfolds, the UK housing market is poised for potential price increases, driven by a combination of limited supply, economic recovery, and government incentives. Whether you’re buying or selling, understanding these factors is crucial for navigating this competitive market.

What’s Driving House Prices Up?

1. Limited Supply and High Demand

The UK’s persistent housing shortage remains a key factor behind rising prices. Urban areas and commuter belts, including regions like Essex, continue to experience high demand, with new construction struggling to keep pace. This imbalance pushes prices upward, especially in areas with strong buyer interest.

2. Economic Recovery and Incentives

Improved consumer confidence and government schemes, such as Help to Buy and stamp duty reductions, are further fuelling demand. Affordable borrowing rates also encourage buyers to act now, intensifying competition for properties, particularly in regions offering a blend of value and convenience.

How to Navigate the Market

For Buyers

Acting sooner rather than later could save you money as prices rise. Understanding your budget, securing mortgage pre-approval, and staying informed about market trends will help you move quickly when the right property appears.

For Sellers

With house prices climbing, it’s an opportune time to sell. Ensuring your home is well-presented and accurately valued can maximise your return. Expert advice can also help you position your property effectively in a competitive market.

At Ashton White, estate agents in Billericay, we’re here to provide tailored guidance, whether you’re buying or selling. Our team’s expertise in Essex and beyond ensures you’re well-prepared to make informed property decisions.

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Landlord Fees

One Months Rent plus VAT (of the achieved monthly rent)

  • Advertising and marketing
  • Arrangement of required safety and compliance certificates
  • Accompanied viewings
  • Negotiating tenancy offers
  • Full credit/reference checking of potential tenants
  • Collecting first months rent and deposit from the tenant
  • Arranging signature of the tenancy agreement by the tenant
  • Provide copy documentation to landlord and tenant
  • Provide tenant with method of payment information for future rents

Set-up fee 60% inc VAT (of the achieved first first months rent)

Rent Collection Fee 8% inc VAT per calendar month, gross rents due.

  • Advertising and marketing
  • Arrangement of required safety and compliance certificates
  • Accompanied viewings
  • Negotiating tenancy offers
  • Full credit/reference checking of potential tenants
  • Collecting first months rent and deposit from the tenant
  • Arranging signature of the tenancy agreement
  • Collect and remit the monthly rent received
  • Deduct commission and other works
  • Pursue non-payment of rent and provide advice on rent arrears actions
  • Make any HMRC deduction and provide tenant with the NRL8 (if relevant)
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