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Rental market expected outperform sales market over next 5 years

  1. An average of economists and housing market commentator forecasts over the next 5 years expect the rental market out perform the sales market, at 3.3% compared to 0.9% per year.
  2. The sales market could see falls in average prices of homes by -7% by the end of 2024 but growth is then expected to return and average 3.8% per year between 2025 and 2027.
  3. In contrast, the rental market is anticipated to see its strongest rates of growth in 2023 and 2024 (4.4%) before stablising at 2.5% per year for the three year period 2025 to 2027.
  4. Housing markets that are less reliant on mortgage finance could record higher than average levels of growth. Improvements to the cost of borrowing may also result in a boost in demand in the sales market.Source: Dataloft, OBR, HM Treasury (Independent average), JLL, Savills, Knight Frank, CBRE, Rightmove, Zoopla

House prices have gone through the roof in recent years, but they are now falling amid soaring inflation and rising interest rates. Whilst landlords are raising rents to try and counter increased mortgages, they are still managing to find tenants capable of paying these higher rents. Ultimately, with the cost of living crisis, many people just can’t afford to get onto the property ladder to own their own homes.

Buying V Renting

Whether to buy or rent a home to live in is hard to decide. There are members of the public who prefer to rent as it can provide a chance for the individual to reside in a house in a premium area which would otherwise cost a lump sum if bought. A purchase can take on average 3 months whereas renting allows a prospective tenant to be in their new home within a couple of weeks. When you own a home, any repairs or maintenance are down to you and could be costly. When renting, in most circumstances, the repairs and maintenance do not cost the tenant.

One of the main reasons to buy a home is that it is a long-term investment. With every monthly payment, you are one step closer to paying off your loan, rather than simply paying your landlord. Another significant benefit of buying your own home is that you don’t have to worry about the risk of your landlord suddenly asking to end the tenancy. Buying your home offers more security than renting, which can help you to feel more comfortable. Having the thought in the back of your mind that you might have to move home at any time can make it hard to get attached to a property.

Rental market forecast:

Looking at the above figures, for the next few years you will see the rental market thriving with its increase of 4.4% in the next couple of years then stabilising to 2.5% With prospective buyers still struggling to save deposits, if demand for rental property remains high and prices keep rising in 2023 the opportunity for landlords to generate higher rental yields will continue to increase.

Whether you are renting or you are thinking of buying, there is an ideal property for everybody. You will have to look at it on your own personal merit and circumstance. If you want and can afford to own your home, bricks and mortar still remains a great long-term investment and in most instances, mortgage payments can often be cheaper than paying rent.

Leigh Thomas – Truuli Property Expert

Could downsizing your home save you half a million pounds?

For many homeowners, downsizing from a large home to a smaller abode can be an excellent opportunity for those looking to save money. By capitalising on their home equity – the difference in prices between selling a larger property and purchasing a flat or smaller abode – substantial savings can be made. According to data the average price difference between a 3+ bed house and a 2-bed flat is £161,728 with some regions having an even greater release of over half a million pounds! Whether it’s for financial gain or lifestyle reasons, downsizing to a smaller home can provide numerous benefits. 

The Monetary Benefits of Downsizing 

The release of equity through downsizing is particularly dramatic in London where the average equity released by this method is an impressive £516,436. This figure rises significantly for other regions too; the South East has an average release of £342,291 while all other UK regions have at least £100,000 equity released via downsizing (with just one exception). These figures demonstrate how shrewdly trading up or down can yield significant monetary benefits; not just in terms of providing more financial freedom but also offering unparalleled convenience in terms of space and location. 

Other Benefits of Downsizing 

Aside from the monetary benefits of downsizing there are numerous non-financial advantages to relocating to a smaller home that should not be overlooked. With less space comes less responsibility; fewer rooms to clean and maintain as well as reduced bills due to lower energy costs. Additionally, you may find yourself with extra time on your hands now that you don’t have such large amounts of cleaning or gardening work that need doing – allowing you to focus on other activities such as spending time with family or friends, taking up new hobbies or even travelling more frequently. Furthermore, depending on where you choose to move there may be additional advantages such as being closer to amenities like shops and leisure facilities or being able to access better transport links than previously available.  

When considering whether downsizing is right for you it’s important to weigh up both the financial and non-financial implications carefully before making any decisions – however there’s no denying that when done correctly it can be an incredibly beneficial process. From releasing substantial amounts of equity from your current property (particularly in London & South East regions) to gaining extra time by reducing workloads around cleaning; upkeep; there are multiple advantages associated with trading down for those looking for convenience as well as financial freedom. In conclusion, if done correctly downsizing could prove very beneficial – so why not explore your options today?

UK pet ownerships reaches all time high

  • Father Christmas keeps reindeer as pets and although not many UK household own reindeer, we are still a nation of animal lovers.
  • Nearly two-thirds (62%) of UK households now own a pet, up from just 41% two years ago, ‘pets’ is a top 5 search term for renters.
  • More than 1 in 3 households (34%) own a dog, while 28% of households own a cat. Indoor birds, rabbits and hamsters make up the top 5 most popular pets.
  • 50% of renters think being pet friendly is an important requirement in a property, with more than 1 in 4 liable to rent for longer if they were allowed to keep a pet. Source: Dataloft, Statista, Rightmove, Property Academy Renter Survey, 2022, HomeLet Renter Survey, 2022

Pets have always been the go-to companions for many people in the UK. They can help to combat loneliness and, in some cases, help with people’s mental health. According to dataloft figures, 1 in 3 households owns a dog, and just under 1 in 3 owns cats with indoor birds, rabbits and hamsters making up the top five most popular pets.

As someone who is an avid fitness fanatic, when I am out in my local park jogging I tend to see the same faces out exercising with their pets and large groups are meeting up regularly, along with their dogs, to socialise. I call them the doggy daters as it’s their regular meet-up, and the dogs all play with each other whilst their owners make small talk. 

According to dataloft there has been a 20% increase in owners of pets in the last two years, with pets being a top 5 search item on the internet. Understandably, the most suited properties for dog and cat owners are properties with gardens, however, this doesn’t limit to just freehold houses – flats with communal gardens still provide homeowners with somewhere for their pets to go outside and stretch their legs. If buyers cannot get a property with a garden due to finances, then being close to local parks will also benefit them for the reasons mentioned above. 

Leigh Thomas – Truuli Property Expert

Were the wise men better off gifting property instead of gold?

The story of the Three Wise Men gifting gold to the baby Jesus has been told for centuries, but what if one of them had given him something else? Had the Magi known about the value of property, they could have given the gift of a house and it would have grown in value much faster than gold has done over the past 10 years. Let’s explore the numbers and take a look at why property might be a better investment than gold.

The Average Price of Houses in The UK
The average price of a house in the UK is currently £294,559, according to Dataloft. That’s 73% higher than it was 10 years ago when it was £170,295. In comparison, the value of gold has only risen by 37% over that same period. This means that if you had bought an average priced home in 2012 and sold it now, you would have made more money than if you had invested in gold over that same time frame.

Forecasting House Prices Over The Next 3 Years
Price growth is expected to slow down over 2023 and 2024 as there are concerns about a potential housing market correction due to economic factors such as rising inflation. However, according to the Office for Budget Responsibility (OBR), growth is expected to resume from 2025 onwards as confidence returns to the market and prices start to rise again.
It’s important to remember that while this forecast is based on current data trends, it can still change due to external events so it’s important not to make any long-term investments decisions without doing your own research first.

As we can see from these figures, property investments may offer greater financial rewards than gold investments over certain periods of time – although like all investments there are risks involved which need careful consideration before making any commitments. It’s always wise to speak with financial advisors or estate agents before deciding whether or not investing in property is right for you – they’ll be able to provide advice tailored specifically towards your circumstances which will help you make an informed decision about your finances. By taking their advice into consideration and researching both markets thoroughly, you should be able to make an investment decision with confidence.

The Growing Demand for Garden Space in Homes 

  • We grow around 7 million Christmas trees in the UK each year. 2240 ha of land would be needed to grow that many trees, the equivalent of 120,000 average-sized UK gardens.
  • Nordmann Fir remains the most popular Christmas tree in the UK, accounting for 80% of trees sold.
  • Gardens and green space are paramount for home movers and renters alike. 87% of home movers and 72% of renters say a garden is an important feature in a property when moving home.
  • A garden continues to be in many buyers’ wish list, ranked in the top 5 of Rightmove’s key search terms. Source: Dataloft; bctga.co.uk; Property Academy Home Moving Trends Survey, 2022; Property Academy Renter Survey 2022; ONS. Median UK garden size is 188m2

Gardens and green space are becoming increasingly important features for home movers and renters alike. According to recent surveys by the Property Academy, 87% of home movers and 72% of renters state that a garden is an important factor when looking for a new property. This trend has been further supported by Rightmove’s latest data, which ranks gardens as one of the top five key search terms used by prospective homeowners. In this blog post, we will look into why gardens have become such a sought-after feature and how it continues to influence the housing market today. 

Why Are Gardens Becoming So Popular? 

Gardens are becoming increasingly popular for many reasons; from the need to get outside during lockdown restrictions to wanting more outdoor activities to do with family and friends. As people spend more time at home, they are looking for ways to bring nature into their living spaces, from creating wildlife-friendly habitats to growing vegetables in raised beds or containers. A garden provides many opportunities to enjoy the outdoors safely, including taking part in recreational activities, enjoying meals al fresco, and spending quality time with loved ones away from technology. 

The Benefits of Investing in a Garden 

Having a garden can add value to your property through increased marketability and higher sale prices. It can also be used as an additional leisure space or area for entertaining guests. Research has also shown that spending time outdoors can help reduce stress levels and improve overall mental health. Furthermore, it is an excellent way of connecting with nature and encourages people to take part in environmental initiatives such as reducing plastic waste or planting trees. 

How Does This Trend Affect Homeowners? 

This trend towards outdoor living has had a positive impact on homeowners across the UK as more buyers are willing to pay extra for properties with garden space compared to those without. The median size of gardens across the UK is 188m2, so even smaller spaces provide ample opportunity for potential buyers looking to make use of their outdoor area. For example, if you own a small flat or terraced house without access to green space, you could consider adding decking or paving stones and some plants or shrubs that attract birds or butterflies – these types of features can be relatively low cost but will still increase your property’s market value significantly when it comes time to sell up.  

Since moving out of lockdown restrictions and into 2023, there is no sign that this trend towards outdoor living is going away anytime soon – if anything it looks set only increase! Homeowners looking for ways to add value to their properties should definitely consider investing in some form of garden space – even something as simple as adding some decking or paving stones can go a long way when it comes time to selling up! With its proven benefits on mental health, connection with nature and increased marketability – investing in green space may well be one of the best decisions you make.

New Home Building is on the Rise

  • As households across the nation dust off the age-old recipe for gingerbread houses, we’ve taken a look at what house builders have cooked up recently.
  • Close to 200,000 new homes were registered in the year to the end of September 2022, the highest total since before the Global Financial Crisis.
  • 44,729 new homes were registered in Q3 of 2022, up 33% on Q3 2021, with private new home registrations up 26% year on year.
  • More than half of home movers would consider purchasing a new build home; energy efficiency, lower running costs and a lack of maintenance or refurbishment are considered the major benefits. Source: Dataloft, NHBC, year to end of September 2022, Property Academy Home Moving Trends Survey, 202


According to recent reports, 193,658 new build homes have been registered this year alone. This is the highest total of new builds since before the Global Financial Crisis. In light of this news, let’s take a look at why new build homes have become so popular and what benefits they offer to home movers.


The Benefits of a New Build Home
When it comes to buying a home, energy efficiency is often top of the list for many potential buyers. When it comes to new build homes, this efficiency is guaranteed due to improved insulation techniques and modern materials used in construction. This means that not only will your energy bills be lower than ever before but you’ll also be reducing your carbon footprint as well!

Another benefit of buying a new build home is that there are no hidden costs when it comes to maintenance or refurbishment – something that can be hard to predict with older properties. And with an ever-changing climate, homeowners needn’t worry about their property being able to withstand extreme weather conditions due to modern building standards that are now in place.

Finally, one of the biggest benefits of buying a new build home is that they come with warranties and guarantees from developers which provides peace of mind for buyers if anything goes wrong with their property down the line.

It’s clear from recent reports that more and more people are opting for new build homes over existing properties – and it’s easy to see why! With improved energy efficiency, lower running costs and fewer maintenance issues, there are plenty of advantages for those looking for a stress-free move into their dream home. So if you’re looking for your perfect property, why not give us a call to get an update on what developers have built recently? You might just find your perfect match!

75% of home movers rate local community as important…

  • Humans are social animals, forming societies and seeking contact with others for well-being purposes. It is not therefore surprising that buyers and renters look for a sense of community in their new home search.
  • Three quarters of home movers rated the local community as ‘Important’ when searching for a new home to buy. Pleasant neighbours were viewed as important by 87%.
  • A sense of community in a local area would also encourage 72% of renters to rent for longer and, 69% would rent for longer if there was a sense of community within their building.
  • Neighbourhoods or streets where homes rarely come up for sale are a good indicator of a strong community, as is the number of neighbours a resident knows by their first name. Source: Dataloft, Property Academy Surveys 2022 (including over 10,400 home movers, over 6,800 renters)

One of the things I have enjoyed the most about working in Thornton Heath is that the area has always had a very strong community feel about it. It’s one of the main reasons I still live and work in the area. The local community always gets involved with local and major societal causes such as when the Olympic torch passed through the area coming down the popular Brigstock Road. If you know the area you will know Brigstock Road is one of the main roads in the area, stretching from Thornton Heath High street to London Road. To see the whole community gather and cover both sides of the street waving their British flags, and cheering the torch on has remained a lasting memory.

Historically, many local roads have had annual street parties to celebrate things such as the Queen’s jubilee and other similar events. I personally love the street parties and how the neighbours come together and share good times with food, drink and laughter.

The local leisure centre is also a popular social hub as they run many weekly clubs such as swimming, judo and keep fit which many of the locals frequently enjoy.

If you are thinking of becoming a local resident in Thornton Heath or the surrounding areas, please call one of our local property experts on 0330 0430002 who will be able to help you with all your property needs.

Leigh Thomas Truuli Property Expert 0330 0430002

Stamp duty cuts offers fresh savings.

  • Stamp Duty has been abolished on the first £250,000 of any property purchase, (up from £125,000), making an immediate saving of up to £2,500 for home buyers. Close to half (47%) of all sales in England over the past year were under £250,000.
  • First-time buyers could save up to £6,250, because they will now be exempt from stamp duty on the first £425,000. The purchase price at which they can take advantage of this relief has been raised too, from £500,000 to £625,000.
  • Second home owners and overseas purchasers will still be required to pay the 3% Higher Rate Additional Dwelling Tax and 2% non-resident surcharge respectively.
  • The Chancellor’s announcement only applies to England. In Wales, from October 10th no Land Transaction Tax will be payable on homes priced up to £225,000 (current threshold £180,000), a saving of £1,575 on a property priced £225,000. Those paying over £345,000 are set to pay more.
  • For now rates in Scotland remain unchanged, the threshold in Scotland is £145,000. Source: Dataloft, HMRC, Land Registry, Welsh Revenue Authority, Revenue Scotland

We are now a few days into the new stamp duty changes and I am already noticing the difference in the market, such as prospective purchasers who had stopped seeking a suitable property to purchase commencing viewings again. 

Even though interest rates have increased in recent times, the stamp duty reductions announced last week by Kwasi Kwarteng have given prospective purchasers fresh impetuous. With us servicing numerous boroughs such as Croydon, Merton and Lambeth, where there are still affordable properties, we have noticed a large portion of properties we are marketing have been getting a lot more interest over the past week. 

The stamp duty reductions will help assist in selling various styles of properties from flats to houses. Properties which previously did not have great interest shown in them are now receiving more viewings. In Thornton Heath, I personally think the 3-bed housing market will benefit the most from the reductions, this is because the average three-bedroom home falls within the £425,000 price bracket.

If you are interested in knowing how much you can save on stamp duty, please get in contact so we can point you in the right direction. Alternatively, if you are looking to buy your first home please get in touch and speak with one of our Local Property Experts on 0330 0430002.

Leigh Thomas – Local Property Expert

Are homes near Woodlands more popular?

  1. 94% of households within England and Wales are within one mile of an accessible woodland, despite the loss of almost half our ancient woodlands in the last 80 years.
  2. Access to woodlands isn’t just limited to the countryside. Across built-up areas there are, on average, 5.4 woodlands accessible from each household.
  3. Households in major towns and cities such as Milton Keynes and Harlow enjoy excellent access, with an average of 13.1 and 11.5 woodlands within one mile of home.
  4. Forests and woods are known to boost physical and mental wellbeing. The vibrant colour changes of autumn make this the perfect time for a visit. Source: Dataloft, Natural England, Open Street Map, ONS

Croydon is a large borough in Surrey with a  population of circa 386,710, making it the second largest London borough and fifteenth largest English district.

It is one of the hearts of culture in London and the South East of England and has large portions of the area bordering woodlands. South Croydon, in particular, has many famous wooded areas such as Croham Hurst Wood, Addington Park and Addington Hills.

Houses close to woodlands tend to have a higher asking price compared to those that are a bit further away as people are drawn to having green spaces nearby, providing ample space for dog walking, jogging and picnics and an array of further activities. These areas also occasionally host family events and fun days, bringing the community together.

If you live near any of the Woodland areas that Croydon has to offer or you are thinking of moving to the area, please get in contact with one of our friendly local experts who will be more than happy to discuss your requirements and provide necessary guidance.

Leigh Thomas – Truuli Property Expert

What is the most popular search criteria…

  • ‘Bills included’ is the most popular search term for renters seeking to find a new place to call home. Renters are keen to have certainty on their monthly outgoings as the cost-of-living squeeze continues.
  • While in 6th position in 2021, ‘bills included’ has now overtaken those prioritising pet-friendly properties or those looking for outside space, either a balcony or garden.
  • A survey of over 12,000 renters by HomeLet and Dataloft found nearly half of renters currently use or are interested in buying a utilities package from their letting agent, a far higher proportion than those using or interested in contents insurance or a tech package.
  • The new Prime Minister has confirmed energy prices will be capped for households until 2024, which could curb inflation growth by up to 5%, and bring inflation back down below the government’s target sooner. Source: Dataloft, Rightmove, 2022, based on Keyword Sort, August 2022

In 17 Years of estate agency, I have always noticed that the criteria renters most look for seems to be close to a station to get to work. Then I would say a property being able to take pets would be next as it seems everyone has a pet these days.

I am surprised to see bills included is the most popular search, i can though now see why it would be high up in the search criteria as lot of people may be working to tighter budgets and would want a place that comes with the bills included.

Our lettings department has been very busy over the last year or so, if you are thinking of renting out your proeprty or looking for some where to rent please call 0330 043 0002 and speak with one of our local property experts.

Leigh Thomas – Truuli Property Expert

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