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The Property Podcast
TPP604: October Market Update
Oct 10, 2024
The Renters' Rights Bill is shaking up the property market. House prices are bouncing back, with Belfast showing remarkable gains. The new EPC regulations are pushing landlords to upgrade their properties by 2030. Tracker mortgages are on the rise as interest rates climb, changing the landscape for borrowers. Plus, find out why avocado bathrooms are making a comeback among young homeowners, alongside some must-see TV recommendations.
16:15
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Quick takeaways
- Recent data shows a recovery in house prices, with notable increases across various regions, especially urban centers like Manchester and Liverpool.
- The Renters' Rights Bill is progressing through Parliament, highlighting ongoing rental reform discussions and potential impacts on the market and property owners.
Deep dives
Current Trends in House Prices
House prices have shown a notable shift in momentum, with recent data suggesting a recovery in the market. HomeTrack reported a 5.1% annual growth in Belfast, while England's key areas like Manchester and Liverpool are also performing well. Interestingly, regions in the south, including London, are showing resilience compared to other areas in the southeast, likely influenced by the ongoing trend of migration back to urban centers. These trends are further supported by a drop in mortgage rates over the last 15 months, boosting market activity significantly.
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