Latest Property News
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Labour’s Housing and Property Market Manifesto: What Frome Homeowners & Landlords Should Know
Now we know Labour will be taking the reins of government and ushering in a new era of policies and promises, particularly in housing and property markets. Their manifesto outlines ambitious plans to address the chronic issues of housing affordability, renters' rights, and homelessness. However, the practical implementation of these initiatives, especially in a local context like Frome, raises significant questions. Yet before we look at those, it is essential to see what has happened up to this election.
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Regional Round Up of the UK Property Market - 2024 vs 2023
As an estate and letting agent in Frome, it's always exciting to report positive trends in the property market. The first half of 2024 has shown remarkable growth compared to the same period in 2023, highlighting a robust and vibrant housing sector. Every region has seen growth in the number of homes sold stc.
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The Post General Election Frome Property Market
Despite the anticipations and speculations surrounding the UK General Election, its impact on the UK and Frome property market has been negligible.
Market trends, buyer interest, and property values have remained steady, showing no significant fluctuations attributable to the political climate. This stability suggests that factors such as economic fundamentals, interest rates, and housing supply continue to play a more crucial role in shaping the property market's dynamics than the election results.
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Homeownership Trends in the UK:
Insights for Frome Property Owners and Landlords
The accompanying graphic provides a snapshot of homeownership trends across the UK last year. Nationally, 65% of people own their homes, while 19% live in private rented accommodation, and 16% reside in social housing.
These statistics highlight the varied nature of the property market and offer valuable insights for both homeowners and landlords in Frome.
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Understanding the Property Market: £/sq.ft Trends in the UK, South West, and Frome
The property market in the UK is a complex and multifaceted entity, characterised by a myriad of factors that influence property prices and values.
One of the critical metrics often underutilised to gauge the value of property is the price per square foot (£/sq.ft). This figure provides a standardised measure, enabling comparisons across different regions and localities.
In this article, we will delve into the £/sq.ft figures for the UK as a whole, the South West region (and how that compares to other regions), the Frome property market and why this £/sq.ft metric is particularly significant.
