Latest Property News
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Navigating the Now: The Past Year in Frome's Rental Market
The last 12 months in Frome's rental market have presented their own set of unique challenges and opportunities. For landlords entrenched in the property market or those contemplating their first foray into property investment amidst a sea of unsettling headlines, understanding these recent changes is more crucial than ever.
Building on the insights from my previous analysis "A Decade of Transformation: Frome's Rental Market Evolution” four weeks ago, this update zooms in on the short-term fluctuations that have shaped the rental landscape in Frome over the past year. While the ten-year heat map provided a broader view of trends, this focused snapshot reveals the immediate impacts of current economic conditions, policy changes, and local developments on rental prices. Do send us a message if you want a copy of that 10 year rental analysis on the Frome.
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The Future of the Frome Buy-to-Let Market in 2024
The UK's property market is facing a significant challenge as the availability of homes for rent has plummeted to its lowest level in five years, exacerbating the difficulties tenants face in finding affordable accommodation.
This alarming trend was highlighted in a recent analysis, which revealed that in 2023, only 261,542 private rental homes were available per month in the UK, marking a steep decline from the 379,459 monthly average of rental homes available in 2020—a drop of 31%, underscoring a worrying trend that has been developing over recent years.
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Landlords update February 2024
This month is one day longer than usual, thanks to a Leap Year. But that doesn't mean there's less legislation news. Over the 29 days of February we will see Right to Rent fines increasing, bills progressing, and more consultations closing.
Right to Rent fines to increase
Letting agents must check that all tenants who occupy a landlord's properties have a legal status to live in the UK - called a Right to Rent check.
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1 in 6 Retirees Renting in Retirement
In the ever-evolving UK housing landscape, renting is not just for the young. In fact, just under 1 in 6 retirees (975,230 of the 6.36million retired households) live in private rented accommodation.
The golden years are seeing a surprising trend as more and more retirees are choosing to rent. This shift is influenced by soaring Frome house prices and the desire for flexibility in later life. While the dream of homeownership persists for many Frome people, the practicality of renting in retirement presents compelling arguments.
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5 Years of Growth: Deciphering Frome's Housing Market Dynamics
Frome's housing market has witnessed notable developments in the past five years, a period marked by evolving trends, a pandemic yet also opportunities. To capture and illustrate these changes, I have developed a detailed heat map that visually represents the shifts in house prices across different neighbourhoods in Frome during this timeframe.
This five-year heat map is not just a visual tool; it's a strategic asset that offers a nuanced view of our local housing market. It highlights the areas that have experienced different levels of growth in house prices.
Frome's housing market has been shaped by a variety of factors, including local developments and national economic shifts.
