Housepresso 11 Apr 21
All you need to know about the housing market this week in one quick hit
House prices reach new highs
First Time Buyer Deposits reach £59,000
A report from Lloyds Bank this week reported that raising a deposit is still the biggest challenge for those looking to get on to the property ladder, but the average first home deposit has gone up by another £11,000 since the start of the pandemic to £59,000, putting homeownership out of reach for many.
London renters £5,000 worse off than London buyers
Whilst across the UK average buying costs are £824 per year lower than the average rental payments, in London this leaps to £4,788 an additional cost of almost £400 per month.
In the new world of working from home, this will cause many to question whether the cost of living within the bright lights of London is worth the extra cost.
Shortage of homes for sale
The Royal Institution of Chartered reported this week that there was a shortage of homes for sale. Although the UK housing market is buoyant, you might not be able to find what you are looking for. Around 4 in 10 people across the country know where they want to live next but there are far fewer homes on the market. So what do you do if the home you want to buy isn't on the market? Twindig can help because you can find and follow any home on twindig the 1 million currently on the market and the 27 million that aren't. If you follow a property we will update you on that property each month.
Simply visit twindig.com find the property or properties you are interested in by entering in either the street name or postcode, view the property and then follow it and we will take care of the rest
Be prepared to avoid the next stamp duty cliff edge
We all have love/ hate relationships with deadlines, most of us start off with good intentions but then end up panicking following a period of delay and procrastination.
The Conveyancing Association offered good advice on Radio4 this week: Be Prepared. Getting all your documents ready ahead of time can save you both time and ultimately save you money.
Twindig has details of all the documents you need if you are thinking of selling, so if you haven't already registered visit twindig.com claim your property and start preparing for your next move.
The Radio 4 interview about home selling begins around half an hour into Thursday's You and Yours program
Zara - you are a £100 Winner!
Zara from Stockport was the winner of last weeks £100 Prize Draw, but this week, it could be you - new users or existing Twindiggers referring a friend are eligible to enter this weeks prize draw
Are you next week's winner?
Refer a friend to Twindig or register yourself to claim your FREE Home Valuation Report and a chance to WIN £100 - Entry closes 4pm UK time Wednesday 14th April 2021