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Another busy month on the property market and in HBF HQ. Similarly to last month Bank of England increased the interest rates to 1.25%, leaving many homeowners very nervous. There have been many mentions that the property market displays signs of cooling off but despite that, the newest ONS data shows that the average house price was £31,000 higher than this time last year! Mid-June HouseBuyFast has successfully launched a tool that helped many homeowners realise that their house is a secret earner! Now you can find out how much your house earns per hour, day, week or year. Property Earnings Calculator or PEC, as we call it, feeds on the newest governmental data to ensure accuracy.
It was also a debut month in Closer and Hello magazine!
In case you missed it, highlights below:
Estate Agent Today
To see house prices rising faster than the rate of wages in this way is bittersweet. On one hand it underlines, once again, the strong position those owning their own home now find themselves in.
Property Industry Eye
With house prices rising higher than the rate of wages, many young people will now really struggle to get on the ladder especially during a cost of living crisis. That’s why it’s vital we see effective Government policies designed to boost people’s chances of owning a property rather than recycled ideas like the right to buy gimmick we saw rolled out recently by the Prime Minister.
People also buy into a certain kind of lifestyle when they view a property – and many visualise themselves looking after a nice garden. Subconsciously, they’ll then prefer the property and may pay a bit more for it.
Unfortunately, games consoles are one of the costliest appliances to run in terms of their energy consumption. Playing for an hour every day will cost £20.55 per year – and just leaving the PlayStation plugged in and connected will add £7.85 annually, according to PlayStation’s figures.
When people walk into a house, pleasant smells can help them imagine themselves living there. A wildlife-friendly garden, full of fragrant flowers, can really contribute to this, potentially helping you sell the house quickly and for more.