House prices increased by 37.2% in the last decade

The last decade saw a large up and down movement with property prices across the UK.

London saw the highest rise across the UK with property prices increasing by 72 per cent – more than double the UK average. However, this is now slowing down and property prices are beginning to dip in the city.

The average house price across the whole of the UK increased by 27 per cent. This equates to £47,647. The overall average is now £233,000.

East Midlands property prices

Looking locally within the East Midlands, house prices increased by 37.2 per cent over the last ten years. According to Rightmove, the average price now stands at £216,600.

The highest price growth in the East Midlands was Corby with an increase of 65 per cent. The lowest was West Lindsey at 22 per cent.

Low interest rates

This decade has also had very low interest rates which has helped keep mortgage payments down for many people. This has helped first time buyers are those looking to upsize.

Looking to the next decade

House prices are forecast to increase by another 15.3 per cent over the next five years.

The East Midlands is actually thought to grow more than this, with an average increase expected of 18.2 per cent.

How much is your property now worth?

Considering selling your property in 2020? Find out how much your property is worth by calling 0115 924 3304 or by using the form below. There is no obligation to use our estate agency services.

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All information and figures sourced from This Is Money.

Nottingham rental prices rise fastest across the UK

The cost of renting a home has risen faster in Nottingham than any other UK city. A survey conducted by Zoopla, and publicised by the BBC, showed that rents rose by 5.4 per cent in the last year alone.

In comparison, the average rental increase across the country was just 2 per cent.

The average rental price in Nottingham is now £631 for a two bedroom property in the city. In comparison, Birmingham sits at £703, Liverpool at £503 and Leicester also at £631.

Rent actually becoming affordable

Despite rises in rental costs, renting a home is actually becoming more affordable for most.

Average earnings are rising at twice the rate of rental prices, meaning tenants should not have an issue in paying their rent on time and in full.

Zoopla suggests that renters spend nearly one third of their earnings on rental payments.

Reasons for rental increases

It has been suggested that Selective Licensing is the biggest reason for the rental price increase in Nottingham. Most landlords have decided to offset the cost of a licence at £780 by asking their tenants to pay more every month.

How long does it take to rent a property?

According to the report, the average time it takes to rent a property is currently 17 days. This is measured by the time the advert first appears online to the time it is marked as let agreed.

The average time a tenant also spends in a rental property is currently around 4 years.

It appears that the rental market is stronger than ever, despite political uncertainty.

How much is your property worth?

Considering renting to tenants? Need an up to date rental valuation? Call us on 0115 924 3304 or use the form below.

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Estate and Lettings regulated for your piece of mind

Walton & Allen Estate and Letting Agents are now regulated by Propertymark. You will see the ARLA and NAEA logos across our website which now emphasises our focus on consumer protection.

What is Propertymark?

Propertymark is the UK’s foremost professional and regulatory body for estate agents and letting agents. It represents over 9000 members. Propertymark regulates us as an agent by ensuring your money held by us is kept safe at all times.

ARLA stands for the Association of Residential Letting Agents and NAEA stands for the National Association of Estate Agents.

What does being a member of Propertymark involve?

Our membership includes:

  • Client money protection scheme
  • Regular industry training
  • Government approved redress scheme
  • Regular updates on legislative changes
  • Professional indemnity insurance

Benefits of choosing a Propertymark protected agent

There is no mandatory regulation for estate and letting agents. This is why it is important to choose one who are happy to be part of a voluntary scheme such as Propertymark. By doing so an agent demonstrates transparency and provides evidence that they are at the forefront of all developments within the property industry.

So, how does using a Propertymark protected agent benefit you?

  1. Integrity – Propertymark agents are experienced and trained professionals who abide by a nationally recognised code of practice
  2. Complaints Procedure – Handled by independent ombudsman services and regulated by Propertymark
  3. Peace of Mind – We hold all the correct insurance and protection to give you peace of mind
  4. Compliance – Registered with HMRC to ensure compliance with money laundering regulations

Need to sell or let your property?

Talk to our team today on 0115 924 3304 or email info@waltonandallen.co.uk. We’d be happy to help you!

Nottingham Property Prices Spring 2019

Our latest property price report is here and Nottingham still sits top for property price growth across the country.

Nottingham property price growth

Following the latest report from Hometrack, Nottingham is once again third for property price growth across the whole of the UK.

Property prices in the city are up 1.4% in the last three months, making the average Nottingham property price £153,700. In addition, property prices were up 0.6% in the last month alone in Nottingham.

This puts us in joint third for price growth, along with Manchester and Sheffield.

Above Nottingham was Newcastle with 1.8% growth over the last three months and top was Liverpool with 2.4% growth.

If you bought a home three months ago at £200,000, it could now be worth £2,800 more already!

The UK property market as a whole

The UK property market is looking positive, despite the current political climate. More sellers are bringing their property to market than this time last year according to Rightmove.

This is closing the gap between huge buyer demand and a shortage of available properties which we reported on a few months ago.

Mortgage deals

Many people are taking advantage of the great mortgage deals on offer as interest rates have generally remained the same.

Money saving expert Martin Lewis has reported on some of the best 5 year fixed rate mortgage deals since March 2018.

Lenders are now offering deals with interest rates below 2%. If rates go up after Brexit this could be a great result for home owners who have switched to these deals.

As always, mortgage deals are different for everyone so please check with a qualified mortgage broker before you switch. You can talk to our recommended broker free of charge by calling 0115 924 3304.

How much is your property worth?

What is your property now worth since prices have risen? Find out by calling us on 0115 924 3304 or using the form below.

With the large influx in buyers now may be a good time to sell.

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5% deposit mortgage rates falling for first time buyers

If you’re a first time buyer looking for a 5% deposit mortgage then you’re in luck. Rates have fallen dramatically for low deposit mortgages according to What Mortgage.

Research by moneyfacts.co.uk shows that rates on a 5% deposit mortgage are currently at 3.30%. This is compared to rates of 4.19% which were recorded in October 2017.

How will this 5% deposit mortgage rate help first time buyers?

These days most first time buyers struggle to save a large deposit. This is why the 5% deposit mortgage is so popular.

Previously, those looking to get a mortgage with a low deposit where subject to higher interest rates. This means that the monthly repayments were usually higher.

Now that rates are falling this should mean that mortgage repayments for first time buyers are a little lower.

5% deposit affordability is still strict

Whilst this is good news for those looking to get a mortgage with a low deposit, What Mortgage reports that affordability is still strict. First time buyers will still have to jump through several hoops to ensure they can afford a mortgage.

The best advice would be to speak to a mortgage broker to find out if you could be eligible to get a 5% deposit mortgage with a low rate. You can talk to our recommended mortgage broker free of charge by calling 0115 924 3304 or use the form below. He will be able to advise you either over the phone or during an appointment in person.

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

UK interest rates on hold

There’s potential good news for those with a mortgage as interest rates are put on hold by the Bank of England.

Interest rates were last year raised to 0.75% from 0.5%, but the Bank’s Monetary Policy Committee voted to keep rates as they are due to the timing of our EU withdrawal.

When asked whether interest rates would move up or down when the time is right, the MPC stated that they could move “in either direction”

How this could impact mortgage rates

When the interest rate rose to 0.75% last year, a rise in mortgage rates also followed. This meant that most who were not on a fixed mortgage deal were soon asked to pay more towards their mortgage every month.

As interest rates remain the same, mortgage repayments should also remain the same for the time being.

Need some advice on your mortgage?

If you’re not on a fixed rate deal, it may be a good idea to do so. This should protect you if interest rates raise any further.

Our recommended mortgage broker can talk you through this during a free appointment. Just call 0115 924 3304 or use the form below.

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Mortgage and protection advice is provided through our association with the mortgage brokers at Premier Mortgage Services (Nottingham) Ltd. Their mortgage brokers have been providing advice for over 20 years on all types of mortgages and circumstances.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home. 

Estate Agents Beeston – Property Valuations

Estate Agents Beeston

Walton & Allen estate agents Beeston have recently been selling property around the Beeston and Bramcote areas with great success.

Did you know? Walton & Allen have been voted as one of the top 3 estate agents in Nottingham by ThreeBestRated. Find out how we can sell your house here.

Talk to us today to find out how much your Beeston property is worth. Call our expert Senior Valuers on 0115 924 3304 or use the form at the bottom of this page.

We operate a no sale, no fee policy so it is completely free to get a valuation if you are looking to sell your property within the next few months.

Beeston Property

Beeston is an extremely sought after area when it comes to buying property, particularly for first time buyers. There is a wide range of property available, all at varied prices. The most popular properties for sale in Beeston in the last year were semi-detached houses.

Recently we sold a property in Bramcote on Ewe Lamb Lane. This had 84 viewings and 7 offers, proving just how popular the area can be!

estate agents beeston bramcote

We also just sold a terrace house on Derby Road, very close to Beeston and Bramcote village. This had 8 viewings and sold within 14 days of coming to market! View a 360 tour of this house below. Ensure you watch through the YouTube app if you’re reading this post on mobile.

About Beeston, Nottingham

Beeston as a whole has had approximately 106 completed sales in the last 12 months according to Zoopla. House prices are also on the up by 4% over the last year and up 17% since 2007. The average sale price can vary from £59,950 up to £1.25million, with property prices increasing further in nearby Beeston Fields.

With great links to the QMC hospital and Derby, plus the A52, M1 and tram links, there is so much to offer for those living in the area.

The Beeston high street is a thriving community with shops, bars, restaurants and a local college.

Beeston Property Valuations

If you’re looking to sell your property in Beeston or Bramcote, use the below form. We provide free property valuations in Beeston, as well as property sales, lettings and Beeston mortgage advice.

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Mortgage Advice Beeston

Walton & Allen estate agents also offer initial free, independent mortgage advice. This will help you choose the best lender and hopefully the best deal for you, depending on your financial circumstances. Use the form below to book an appointment with our mortgage advisor, or to request some advice over the phone. You can also call us on 0115 924 3304.

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Beeston Landlords

If you are a Landlord with a property to let in Beeston then we are here to help. We manage properties for hundreds of Landlords which involves finding tenants, collecting rent and managing maintenance issues.

Beeston is a brilliant place for Buy To Lets as plenty of students live nearby and there is no requirement to have a Nottingham Selective License.

If you’d like to find out what we can do for you on our Landlord fully managed service then get in touch. We can also provide up to date rental valuations on any Beeston property. Just call 0115 924 3304 or use the form above.

About Walton & Allen Estate Agents Beeston

Established in 2000, Walton & Allen Estate Agents are an independent, family run sales and lettings agency. We provide property for sale, to rent, mortgage advice, block management and maintenance services across the whole of Nottinghamshire.

Our expert team has over 100 years combined property knowledge. We will always attempt to get the best possible price for your Beeston property, and sell it in as quick a time as possible to help you move.

We’re a friendly team and always happy to help!

Walton & Allen Property Investment Club

Property Investment Club: Helping our buy to let investors

Walton & Allen have launched an exclusive property club for landlords and investors. Those who join for free gain access to:

  • Exclusive email notifications on investment properties with high potential gross yields
  • Free initial investment mortgage advice
  • Exclusive deals on lettings management fees
  • Free advice on Nottingham Selective Licensing applications
  • Free property investment advice

Join other Nottingham landlords and investors by joining our Property Investment Club. It’s completely free to become a member.

To join and take advantage of these exclusive investment offers, use the form below.

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Mortgage Approvals for Buying Increase Dramatically

Mortgage approvals for those buying houses have hit the highest level since January 2018. This is according to The Times.

Bank of England data shows that in October banks approved 67,086 home loans. This is up 2% on a monthly basis.

Previously remortgage levels had dominated the market but these remained fairly flat at 49,399. This highlights the fact that more first time buyers are also looking for properties.

How does this affect those looking to sell?

Despite uncertainty with Brexit, these figures show that property purchases remain fairly unaffected. If you were waiting on Brexit to put your house on the market then there may now be no reason to wait at all.

Along with mortgage deals going up, Rightmove also report that property sales agreed are also up by 1%. People are still looking to buy and deals are still going through.

In addition to this, house prices in Nottingham are also up 3.7% on this time last year.

Find out how much your property is worth and how quickly you can sell

Interested in knowing the facts about selling before the end of 2018? Call us now on 0115 924 3304 or use the form below to ask any questions.

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We also have an instant valuation tool to find out how much your property is worth.

Up to date Nottingham Property Prices

Up to date Nottingham property prices – How do they compare?

Nottingham property prices have risen well over the last 12 months and they continue to grow.

The average Nottingham property price now is £149,800; up 0.4% in the last month and up 1.8% in the last 3 months. Property prices are up 5.1% in the last year. (Hometrack, June 2018 figures).

According to Rightmove, the number of properties coming to market is also up by 8.6% compared to the same month last year. This shows more home owners are confident in the housing market and are ready to sell. Miles Shipside, Rightmove Director, says ‘most regions in the middle and north of Britain have brisk market conditions where buyers eagerly soak up extra supply of suitable property coming to market, and where there is enough momentum to support an increase in prices’.

East Midlands Property Prices

The average property price in the East Midlands is up 1.5% on the previous month, now at £226,310. Compared to the previous year, East Midlands property prices are up 4.8%. Many other areas around the country are seeing a slight drop in prices and Nottingham could soon follow suit. Watch this space to find out.

The East Midlands is still seeing quick property sales at an average of 51 days, only beaten in England by the West Midlands at 46 days.

Mortgage Payment Increases

If you haven’t already heard, the Bank of England raised their base interest rate earlier this month from 0.5% to 0.75%. Several banks have already raised mortgage repayments for those on tracker or variable rate mortgages. If you are within 6 months of coming to the end of your current mortgage deal then we would certainly recommend looking at a fixed mortgage deal. This means your repayments will stay the same despite any further increases. You can find out more about this here. Talk to us today by using the form below, or calling 0115 9243304.

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A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Selling Nottingham Property

At Walton & Allen Estate Agents Nottingham, we are determined to get the best price possible for your property in as quick a time as possible. This is why we value property at the correct market rate, to ensure stock isn’t sitting on the market for months without any interest.

Considering selling your property? Figures show now is a great time to sell. Talk to us today about how we can help you. Call 0115 9243304 or use the form below.

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