Welcome to the Basingstoke Property Blog

As we move into the traditionally slow summer holiday period, has the Basingstoke property market ground to a halt. In the past week, two large estate agency chains have reported dismal results. Countrywide reported a decline in profits for the first half of 2017 to £6.5m from £28.3m the year before. Foxtons similarly announced a 64% decline in profit for same period. There are many contributors to these results: • The rush to purchase properties before the changes in stamp duty came into force in April 2016 which are reflected in the 1H2016 figures • Continued uncertainty in the market due to the general election, Brexit and overall political uncertainty • This has resulted in a continued slowdown in the sales market month on month during the first half of 2017 In the case of Foxtons who are largely London based, whilst their lettings business remained largely resilient to these market conditions, their sale revenue declined 29% and their sales volume by 33%. By cont...

Brand New Apartments Open Day - YouTube Video

According to the Halifax House Price Index released in July, UK average house prices fell by 1.0% in June, with house prices in the three months to June down 0.1% compared to the previous quarter. This brings the average price of a house or flat down to £218,390. This is the third successive quarterly decline.   Measured on an annual basis, the average growth in house prices fell to 2.6% which is the lowest rate since May 2013.   Nationally, house prices are now 9% above their peak in August 2007, and 41% higher than their low point in April 2009.   The volume of house sales dropped by 3% between April and May, however, however sales in the three months to May were actually 1% higher than the preceding three months. We are likely to see a similar drop between May and June due to the general election.   Mortgage approvals between April and May edged up 0.2% suggesting that house sales are likely to remain steady over the coming months. ...